Ethereum Classic (ETC) to receive a new network upgrade ‘Thanos’

Ethereum Classic (ETC) to receive a new network upgrade

Two Ethereum Classic (ETC) teams — Ethereum Classic Labs and ETC Core — announced a new hard fork yesterday, November 23rd. The fork will bring forth a new network upgrade known as Thanos. The move came after reaching a community consensus, and it is expected to take place in only a few days, on November 29th.

Ethereum Classic will enable a new upgrade, Thanos

Just as Ethereum moves towards finally launching Ethereum 2.0, Ethereum Classic is getting ready for its own new upgrade, Thanos. Thanos will actually make an important milestone for the project. The ETC network aims to keep driving innovation, and to support its existing miners, while also trying to awaken interest in new, potential miners.

At the same time, Thanos will allow ETC to remain compatible with Ethereum.

ETC had major problems with 51% attacks recently, and to solve them, it implemented a finality algorithm, MESS, recently. Now, the project is ready to keep growing and distinguishing itself as it increases functionality for users.

The project’s Chairman and founder, James Wo, also said that Thanos will be the network’s natural next step, as it will reduce the DAG size and help cultivate a healthier and more distributed mining ecosystem.

More than that, it will help increase the hash rate, it will allow miners to keep mining, and it will attract new miners to the ETC network.

Thanos was already successfully implemented on the ETC testnet, and is currently in preparation for the Mainnet integration. It will be activated at block 11,700,000, expected to be solved around November 29th.

Another thing worth mentioning is that consumers are advised to upgrade their node software to a version compatible with the fork — Core-geth v1.11 or later.

The post Ethereum Classic (ETC) to receive a new network upgrade ‘Thanos’ appeared first on Invezz.

Publication date: 
11/24/2020 - 07:51

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