Ethereum Classic to Remove the Difficulty Bomb via Fork

Difficulty Bomb will be removed from Ethereum Classic Mainnet at block 5,900,000 in order to avoid collapse of the network
04 April 2018   4604

Ethereum Classic, a continuation of the original Ethereum blockchain, is a decentralized platform that runs smart contracts: applications that run exactly as programmed without any possibility of downtime, censorship, fraud or third party interference.

This ECIP new monetary policy of Ethereum Classic proposes removing Difficulty Bomb from Ethereum Classic Mainnet at block 5,900,000 in order to avoid collapse of the network. The growing Difficulty Bomb above 20% of standard difficulty is dangerous, and the latest safe block to enable new hardfork would be 6,100,000 with 550Gh of extra difficulty. Although considering the hardfork boundaries proposed by Ethereum Classic developers, block 5,900,000 was chosen for the hardfork.

Ethereum Classic fork infoEthereum Classic fork info

Block 5,900,000 is expected in May 2018 and will require 137Gh of additional difficulty. It’s an optimal block under current circumstances. It is worth noting that there will be no "free coins" with this fork, as it is a network improvement.

Implementaion:

if (block.number >= diffuse_block) {
    extra_difficulty = 0
} else {
    explosion = PREVIOUS_FORMULA
    extra_difficulty = int(2**explosion) 
}

block_diff = parent_diff 
      + parent_diff / 2048 * max(1 - (block_timestamp - parent_timestamp) / 10, -99) 
      + extra_difficulty

At the moment of press, these are main market parameters of Ethereum Classic:

  • Average price: $13,94 
  • Marketcap: $1 406 839 671
  • 24h volume: $99 729 900

Emerald 1.0 Ethereum Classic Wallet Released

Version 1.0 of this ETC wallet contains a lot of cool new features
26 June 2018   229

The Ethereum Classic team presented the first full version of the Emerald (v 1.0) wallet.

From the previous alpha and beta versions, the new release features a number of new features. This includes, in particular, the transaction history, the calculation of the balance in the account in the currency, the notification of updates and the dialog box in the presence of network errors.

Emerald Wallet
Emerald Wallet

The launch of the mobile version of Emerald Wallet is scheduled for 2018. Check GitHub for more info.