Efficient Blockchain Fork claimed by Ethereum Classic

So-called "difficulty bomb" has been obviated by Ethereum classic: the upgrade took place at block 5,900,000, according to network data and project developers
30 May 2018   1999

Created to increase the difficulty of mining its blockchain through the time, the basic code was a feature of the original ethereum codebase (which later was divided into ethereum classic and ethereum) in 2016. Though it is hard to account for exact percentages in terms of how many nodes renewed their software, developers of the project declared that mainly exchange nodes and mining pools reported about updating their software long before the fork.

There were no features of any fails or bugs in the hours directly after the fork. The upgrade is awaited to reduce the amount of time it takes to create a block. Therefore, the upgrade states both technical and ideological difference between the ethereum classic and ethereum blockchains.

Because the ethereum community stays attached to passing to a proof-of-stake consensus system, the ethereum classic supporters have chosen to go on using proof-of-work, as its members maintain that, of the different methods to achieve consensus over block validation, it resists centralization best.

Especifically, advocates contend that proof-of-work systems demand their validators (miners) to continuously invest in hardware and  consequently in the blockchain. Deliberation on the fork began as early as 2016, and because of the broad  discussions, the upgrade was not expected to be complicated or controversial.

SK Group to Invest $10M in ConsenSys

SK Group chairman and the 3rd most wealthy man in country believes digital technologies will play an important role in the further development of the company
03 July 2019   304

SK Group has invested $ 10 million in leading Ethereum-based solutions developer ConsenSys. This is reported by the local news agency Chosun.

As noted, in his today's speech at the technology event in Seoul, the chairman of the board of SK Group and the owner of the third largest fortune ($ 3.4 billion) in South Korea Chey Tae-won expressed his interest in the blockchain technology and the tokenized economy, expressing also the opinion about the need for digitalization of approaches practiced by traditional businesses.

According to him, digital technologies will play an important role in the further development of the SK Group.

It is also reported that in February of this year, the telecommunications division of the conglomerate SK Telecom entered into a partnership agreement with Deutsche Telekom to create a blockchain solution for customer identification.

In April of this year, the media passed information that ConsenSys is going to attract $ 200 million in funding from outside investors with a market valuation of $ 1 billion. To this end, the company began distributing presentation materials to Chinese investors. They say that ConsenSys expects to receive $ 50 million in revenue this year, mainly due to contracts with corporate clients and government agencies.