Expanding Ethereum Classic Functionality and Cultivating a Distributed and Healthy Mining Ecosystem
SAN FRANCISCO- Ethereum Classic Labs (ETC Labs), and its ETC Core developer team today announced that Ethereum Classic (ETC) will undergo a network upgrade named, “Thanos” (ECIP 1099), following a community consensus, which is estimated to occur on November 29th, 2020. The Thanos hard fork marks an important milestone for ETC as the network continues to drive innovations that will support existing miners and attract new ones, while continuing to maintain compatibility with Ethereum (ETH).
“After the successful implementation of MESS, the finality algorithm that provides 51% protection, we continue to see Ethereum Classic innovate and grow in a way that distinguishes itself and increases functionality for its users,” said James Wo, Founder and Chairman of Ethereum Classic Labs. “The Thanos hard fork is the natural next step for the network, reducing the DAG size to help cultivate a more distributed and healthy mining ecosystem, increasing hash rate, and allowing for miners to continue mining ETC and for new miners to join the ecosystem.”
The Mordor Testnet has successfully implemented the Thanos upgrade, and now the ETC Core development team is preparing for Mainnet activation. The Thanos hard fork schedule is as follows, although estimated dates are subject to change as the network moves closer to the activation block.
- Mordor Testnet activation at block 2,520,000, successfully activated on October 18th, 2020
- Ethereum Classic Mainnet activation at block 11,700,000, or around November 29th, 2020
To ensure a successful fork, it is recommended consumers upgrade their node software to a fork compatible version if they have not done so already to Core-geth v1.11.16 or later. A full Thanos hard fork monitoring dashboard is available, here. The Thanos hard fork follows the successful Phoenix, Atlantis, and Agharta hard forks in the past year.
About Ethereum Classic Labs (ETC Labs):
Ethereum Classic Labs (ETC Labs) is the leading supporter of the Ethereum Classic blockchain, a public blockchain with a market cap of $1.5B. Working with the ETC Core development team, ETC Labs builds and maintains key applications, solutions, and tools to ensure a secure and thriving Ethereum Classic ecosystem. Through its accelerator program, ETC Labs invests in projects and initiatives that further financial inclusion, women’s participation in technology, and wildlife conservation. As part of these social impact efforts, ETC Labs issues grants to propel research and development in scalability, storage, interoperability, and adoption in the greater blockchain economy. For more information visit, http://www.etclabs.org.
DISCLAIMER: This is an emergent and evolving highly technical space. If you choose to implement the recommendations in this post and continue to participate, you should make sure you understand how it impacts you. You should understand that there are risks involved including but not limited to risks like unexpected bugs. By choosing to implement these recommendations, you alone assume the risks of the consequences. This post and recommendations are not a sale of any kind and do not create any warranties of any kind including but not limited to any relating to the Ethereum Classic network or the Ethereum Classic clients referred to herein.