Ethereum Classic has announced to perform a hard fork on May 29. Difficulty Bomb is going to be addressed with the fork. The Difficulty Bomb is an artificial increase of mining difficulty of Ethereum blockchain. It was introduced to incentivize developers to migrate to Proof-of-Stake consensus algorithm. Initially, EIP-2 introduced it into Ethereum Homestead.
As Ethereum Classic Mainnet is not going to migrate to PoS in the near future, it was decided to remove the feature for good. The actual removal is a simple task, but being a part of consensus rules makes it to be a Hard Fork. All the existing ETC peer implementations need to be updated along with providing time to allow miners, exchanges and the likes to upgrade.
Thus the Hard Fork boundaries are as follows:
- earliest block is 5,700,000 in April, 2018;
- latest block is 6,100,000 in June, 2018.
Block 5,900,000 shall mark the start of the Hard Fork. At the moment of publication, Ethereum Classic market characteristics are as follows:
|Average price||15.14 USD|
|Market cap||1,541,672,706 USD|
|Volume (24H)||188,177,000 USD|