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   2255

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

Ethereum Classic to Issue Emerald Mobile Wallet Beta

The beta version of Emerald Mobile Wallet will be released in April 2018
28 March 2018   292

Ethereum Classic 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, and ETC is also a continuation of the original Ethereum blockchain.

ETCDEV Team, an independent team of software engineers and professionals in software development, which works full time on core Ethereum Classic projects, has publish the ETC Development roadmap with plans for 2018-2020. In general, the goals enlisted include introduction of scalability through sidechains, IoT, helping 3rd party developers to build apps on top of ETC, better security, encryption and interoperability with other blockchains.

As for the plans for April 2018, beta version of Emerald Mobile Wallet will be released pretty soon, though the exact date is not announced yet. Moreover, the developers plan to disable the "difficulty bomb" of ETC in the nearest future. The long-range goals also include the launch of a working prototype of Sidechain and enabling of new Opcodes for compatibility with ETH.

Check the parameters of Ethereum Classic at the moment of press:

Average price: $16,49
Marketcap: $1 662 347 466
24h volume: $172 161 000