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Ethereum Classic (ETC) is somewhere in the middle ground between Bitcoin and Ethereum. POW powers ETC, it is programmable, and it is digitally scarce. Noteworthy, Charles Hoskinson, a long-time supporter of Ethereum Classic, lends a unique level of insight and experience to the project. He is not new to ETC as he used to be a member of the initial advisory board during 2018.
Mantis: For those who are new, Mantis is available in two versions. One is a fully-featured client and a desktop wallet. Mantis has been developed from the ground up, and it is written in Scale for Ethereum Classic Network. IOHK has created it to provide the required robustness and variety to the ETC client range. Mantis also offers optimizations and upgrades which will improve network security, sustainability, and performance in the long term. The software works through the Ethereum Classic Specification Roadmap and implements the ECIPS – Ethereum Classic Improvement Protocols. In addition, there is a formal process which the ETC community uses to manage the ECIP changes.
Magneto Hard Fork: Exchanges, Miners, Wallets, Infrastructure, and other ETC services were prompted to update their ETC node software for the Magneto Hard-fork ASAP.
Running nodes for ETC becomes easy because of the Mantis Client. The Mantis_IO EthereumClassic wallet runs a Mantis client behind the scenes, and the client synchronizes with the chosen network as soon as it starts. Thus, those who are not comfortable with CLI can run the ETC network nodes using a GUI experience.
The ETC team is now preparing for the Magneto Network Upgrade, which is set to be inclusive of the Berlin Upgrade features. Ethereum Berlin upgrade has a series of EIPs that optimizes gas and transactions that have implied security enhancements that are crucial for the network.
ETC Call 17 is the protocol meeting where the ETC developer teams met to discuss the magneto upgrade. They eventually concluded to move the magneto proposal, which has been described in the ECIP-1103, to the last call status. After the last call, it has been fully accepted, and they are proceeding with the upgrade.
The upgrade will be subject to successful Testnet activation, and this might be subject to change. An upgrade is essential from all ETC consumers to make the forking successful. The upgrade is essential to make sure that all participants support the Magneto hard fork. The upgrade will be activated at a particular block number, and those who do not upgrade will be stuck on an incompatible chain.
