Ethereum Classic (ETC) Phoenix Hard Fork Set June 2020

By Maheen Hernandez May 17, 2020 Off
Ethereum Classic Phoenix hardfork ETC

The ETC Phoenix Hard Fork demonstrates the robust development underway on the ETC.  This is the 3rd hardfork and reflects a strong community consensus among ETC stakeholders.

Of note, recently Donald McIntyre, founder of Etherplan broke down the current layout of the Ethereum Classic ecosystem.  The 40/50 the Ethereum Classic Ecosystem Explained clearly described the dynamic among the development teams, nodes, miners, service, sponsors, investors, and volunteer contributors.

Ethereum Classic tweeted:  “The upgrade adds several “opcodes” already functional on the Ethereum network to the ETC chain, thus ensuring that the Ethereum and EthereumClassic networks are entirely compatible for the first time. Ethereum Classic Phoenix Hard Fork Set June 2020.”

The recent update states that 88% hash rate is confirmed for Phoenix.  The mining pools and miners are giving their best and long-term support.

ChainBridge will facilitate users to secure their ETC to further transfer its value to Ethereum to mint Synthetic ETC. It is a two-way function which helps users to transfer assets, which they have gained after making an investment in DeFi to EthereumClassic.  The Ethereum Classic Labs have announced their support for ChainBridge project.

Sydney Ifergan, the crypto expert tweeted:  “Is #tribalism in the #crypto space beneficial or do we need to find a way to give and take constructive criticism? By Bob Summerwill of ETC Cooperative is worth listening to.”

Eth_Classic shared their progress and roadmap for $ETC with the community at the Consensus Distributed Foundations.

Ethereum Classic (ETC) Tribalism in the Crypto Space

Bob Summerwill when talking about tribalism in the crypto space, he stated Tribalism is a manifestation of our animal defaults, and we need to be bigger and better, we need to be aware of it. We need to essentially be fully aware of base instincts. Squabbling over small differences is becoming very common on blockchain based topics on the social media.

Early this month Bob clarified on the differences between Bitcoin with smart contracts (ETC) and World Computer (ETH2).

Ethereum classic is Ethereum technology with Bitcoin philosophy. He described how they are like Bitcoin and they differ from Bitcoin.  Unlike Bitcoin, ETC has rich statefulness with a deterministic Turing Machine bounded by gas (EVM).

He tried to talk more about why anyone would care about Ethereum Classic.  When talking about the value proposition of the resurgent ETC protocol in 2020, he stated that it will provide all the good Ethereum technology like developer tools, smart contract frameworks, state channels, optimistic rollups, but none of the bad things.

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