Ethereum Classic developers announce upcoming hard fork

On Monday, the developers of Ethereum Classic (and many more) Blockchain Announce The hard fork to implement the latest version of the project is now scheduled to be launched in late July.

The upgrade that the community calls “Magneto King” will include four Ethereum improvement proposals or EIPs, which will appear for the first time in Ethereum’s Berlin upgrade Earlier this year.

These proposals are aimed at Promote Network security, while saving fuel costs by storing addresses and keys in one place for users to access through a single transaction.

Beta testing of ETC’s Morder and Kotti testnets started on June 2nd and June 9th, respectively. Once these tests are over, the Magneto fork will be officially released.

Stevan Lohja, Developer Relations Manager at Mantis — a full-featured Customers and wallets For Ethereum Classic-tell the ETC community:

“In order to ensure a successful fork, we require ETC consumers to upgrade their node software to a Magneto compatible version, if they have not done so. If you do not operate nodes or services, but use ETC through other services, please check this Services to ensure that they support the Magneto hard fork.”

Ethereum Classic was originally created in a difficult environment in 2016. The agreement from Ethereum (Ethereum) Mainnet due to $60 million in hacking A project called “DAO” for short-an early Decentralized autonomous organizationAfter exploiting the vulnerability, the developers of Ethereum decided to roll back the malicious transaction in an attempt to circumvent the hacker and return the stolen funds to its proper owner.

Some people believe that revoking these transactions will actually overturn one of Ethereum’s core principles-“code is law.” These users believe that it is best to accept the loss and learn from the engineering mistakes that allow hackers to steal funds. Therefore, the Ethereum Classic project was forked from Ethereum in an effort to retain what some believe is the most accurate project blockchain representation.

As early as May 2021, some Ethereum classic lovers Jokingly called this project The “wrong ethereum” because the price has soared by more than 300%-probably because new crypto traders confuse it with ETH.