Rejecting Today’s Hard Fork, the Ethereum Classic Project Continues on the Original Chain: Here's Why
Ethereum hard forked today. As per what seemed to be the popular demand, the protocol rules have been updated incompatibly with the existing Ethereum protocol. Users have essentially moved to a new blockchain and left the old one behind. At time of publication, well over 90 percent of hash power on the Ethereum network had moved to the new chain. This....
Related News
Ethereum Classic is all set to get a hard fork of its own soon to counter the sustained DOS attack. Ethereum Classic is on its way to get a hard fork in the next two days. Ethereum recently split into two blockchains following a hard fork introduced by the Ethereum development team a few months ago. The hard fork resulted in two versions — Ethereum (ETH) and Ethereum Classic (ETC). While Ethereum continued to operate on the new fork, a portion of the cryptocurrency community decided to continue with the original Ethereum blockchain, calling it Ethereum Classic. Ethereum recently came under....
The controversial debate over the justification of the Ethereum network’s hard fork immediately led to the creation of Ethereum Classic, an alternative project developed to maintain the original non-forked chain of Ethereum. July 20, Ethereum completed its first hard fork to recover approximately 12 million ETH drained from the DAO by an unknown hacker, due to the underlying vulnerabilities and bugs of the DAO protocol. The successful completion of the hard fork was celebrated and praised by the majority of the Ethereum community, but was heavily criticized by Bitcoin developers and....
Minergate, a mining pool and the developer of GUI mining software that supports various mining various cryptocurrencies including bitcoin and Ethereum, is including support for Ethereum classic, the blockchain based on the original Ethereum platform’s consensus before the hard fork. Although the original Ethereum blockchain was officially abandoned following a hard fork that was triggered as a result of the DAO Ahack, a group of community members have since come together to implement the Ethereum blockchain’s original consensus. The project, known as Ethereum Classic, was announced last....
After the successful execution of the Ethereum network’s first hard fork, mainstream media outlets, including the Huffington Post, criticized the supporters of Ethereum Classic, calling the project aimed to maintain the original chain of Ethereum “another Bitcoin scam.” David Seaman, the author of an article entitled “‘Ethereum Classic,’ Another Bitcoin Scam,” laid out a series of irrational arguments to supposedly prove the invalidity of Ethereum Classic, both philosophically and economically. Because some people lost too much money? The first argument presented was the justification of....
Though Coinbase has warned its users about Ethereum network instability and some Bitcoin experts have begun to criticize the its security measures, the planned Ethereum hard fork at block 2463000 will still go as expected. According to Kraken Exchange, the fork which will introduce “changes to help protect against the recent DOS attacks on the network,” which will expectedly be reached on Tuesday October 18th 2016 PDT and it may pose a little risk for Ethereum Classic users. “The fork is expected to go very smoothly with the DOS-protected fork quickly becoming the dominant chain while the....