Hard Fork Testing Stage Near Completion Will Go Live Soon
The differences between Ethereum and Ethereum Classic are growing by the day. The Ethereum team is gearing up towards the Ethereum 2.0. The Ethereum Classic team on the other hand, is concluding its test phase of the Atlantis hard fork.
Split between Ethereum & Ethereum Classic occurred during 2016 following a major hack on the Dao which was built on the blockchain. Ethereum committed a "rollback" to recover stolen funds and through a series of protocol upgrades. A portion of Ethereum's community refused a rollback and continued on the same blockchain, which became Ethereum Classic.
Atlantis Hard Fork
The Ethereum Classic team & community has been testing the Atlantis hard fork since its announcement on June 19th. The purpose of Atlantis to primarily increase the functionality and security of Ethereum Classic. In addition to that, Atlantis is supposed increase compatibility between similar blockchains.
One of the reasons for this hard fork is most likely the 51% attack Ethereum Classic experienced in January.
Unlike many other hard forks, Atlantis has full community support and Ethereum Classic's Blockchain will not be split. Node operators that will not upgrade, will simply not receive block awards. The hard fork is due September 12th.
REMINDER - ETC's Atlantis hardfork is due Sep 12th. If you are running a node yourself you MUST update your software before the fork to stay on the right branch of the ETC chain. There is no contention here. Just tech updates. Thanks! https://t.co/t54RVr3Z6b— ETC Cooperative (@ETCCooperative) September 5, 2019
Will Ethereum Classic Move?
Sometimes hard forks increase the price of a cryptocurrency in the short term. It can be hard to say whether there will be a big short-term pump as the result of this upgrade. It may however enrich the Ethereum Classic ecosystem in the long term.
Ethereum Classic is #17 on coinmarketcap currently. It is trading at $7.01 at the time of writing this article. It is one of the few currencies to take ground on both Bitcoin & the U.S. Dollar. This could hypothetically be due to hype regarding the fork. Should Ethereum Classic keep its upwards momentum, it could overtake TRON in the near future.
Written by Jonathan Ganor
Writer & cryptocurrency aficionado