Ethereum Classic

Ethereum Classic Readies New Fork 

Ethereum Classic Readies New Fork 

Ethereum Classic is now set to introduce a new fork that would mitigate a feature designed to increase mining difficulties – essentially committing the blockchain to proof-of-work protocols.ethereum classic

Ethereum Classic (ETC) is now set for a hard fork that will further diversify its presence from the mainstream Ethereum (ETH) blockchain, as devs look to disable a ‘difficulty bomb’ that would render mining increasingly unprofitable over time.

Occurring at block 5,900,000, Ethereum Classic will move to disable a native feature that would increase mining difficulty ahead of a change to proof-of-stake consensus.

While Ethereum plans to usher in its planned ‘Casper’ consensus change and adopt proof-of-stake, the news effectively means that Ethereum Classic will commit to proof-of-work mechanics for the foreseeable future.

In a statement to CoinDesk, Anthony Lusardi – the developer and director of ETC Cooperative – stated that “There’s a lot of new algorithms being proposed like proof-of-stake, delegated proof-of-stake and byzantine fault tolerance, and within our community we’re not convinced that these newer versions of consensus are any more decentralized and we’re somewhat afraid that they may be more centralized than say proof-of-work.”

The decision has been mulled for months – discussions as to whether Ethereum Classic would maintain its proof-of-work system began in 2016, while the project’s community implemented a fork to delay the difficulty bomb in 2017.

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