Ethereum Classic rose by almost 40%

Cryptocurrency Ethereum Classic showed a notable price jump by 39,86% within past week
09 November 2017   1949

Ethereum Classic (ETC), a cryptocurrency which currently takes 11th place in top coins list ranked by market capitalisation was moving in a positive direction during last 7 days, rising by almost 40%. At the moment of press, the coin has a market capitalisation of $1,3 billion and is traded at $14 price, although the beginning of week was marked by not very high price of less than $10.

Ethereum Classic Charts November 2017Ethereum Classic Charts

Ethereum Classic faced some ups and downs during past several month, for instance in July 2017 it marked an all-time-high of about $23 and jumped by 25% in the end of August, nevertheless September was not so successful for the currency as its price fell down to $10.

The recent growth of the coin might be connected to the upcoming Ethereum Classic Summit which is due to occur on November 13 and 14 of 2017 in Hong Kong where a huge amount of ETC developers, stakeholders and partners will appear.

In October, a multi-currency wallet Exodus added Ethereum Classic support in its new version. Moreover, November 2 was marked by the announcement of a new version of Emerald Wallet, which is a major project designed to enable building of decentralized apps on Ethereum Classic blockchain without reinventing the whole architecture.

Also, at the same day, some security improvements were claimed to be made via Ethereum Commonwealth development update.

What might have also influenced the ETC price jump, is that OKEx, a popular Chinese exhange, announced the launch of ETH and ETC Futures on November 6.

What is more, the announcement that ETC has not been affected by the recent Parity multisig hack, has appeared in the official twitter of Ethereum Classic, which also brings positive news to the coin holders.

Thuswise, it is encouraging to see Ethereum Classic moving upwards and it is possible to assume that it might keep its positions high in the future.

Atlantis Ethereum Classic Hardfork Date Unveiled

It was agreed that the update will take place at block 8,772,000 and it should activate the changes that were proposed for the original ETH network in 2017
21 June 2019   747

During the videoconference on Thursday, June 20, Ethereum Classic developers came to an uneasy consensus on hardfork of a network called Atlantis, CoinDesk reports.

Despite certain differences, it was agreed that the update will take place at block 8,772,000. As expected, it will be found around 12:00 UTC on September 17 of this year.

In May, ETC developers disagreed on what improvements the upcoming hardfork should contain, but last Thursday they nevertheless found a consensus on the 10 proposals that should be included in the code of the future hardfork.

It is noteworthy that earlier in June, the developers agreed to launch Atlantis hardfork in the test network by the end of this month, while the launch of the code in the main network was to take place before the end of the summer.

However, a little earlier, Ethereum Classic Labs, the developer of the most popular client of the Classic Network Geth, insisted on activating hardfork on July 1. This decision was allegedly made under pressure from miners and exchanges based in Asia, which insisted on the fastest possible changes in the network.

At the beginning of the month about this was told by the Asian community manager Ethereum Classic Cooperative Christian Xu. However, a number of community representatives, including the founders of the research startup Gödel Labs Tang and Roy Zhou, accused Xu of falsifying such allegations.

We asked them about Atlantis. We got the normal ‘don’t care’ response. But several exchanges/miners also said that they’re not aware of this before. That makes me feel suspicious.

Tang Zou

Co-founder, Godel Labs

Passion was flared by the position of Ethereum Classic Labs and its CEO Terry Culver, who initially opposed the postponement of the hardfork to a later date.

I strongly disagree. We can’t subscribe to that schedule. We stick to the schedule that we originally agreed upon.

Terry Culver

CEO, Ethereum Classic Labs

Nevertheless, over the past few days, the position of Ethereum Classic Labs has changed towards a wider dialogue with the rest of the developer community. On Wednesday, the blog Ethereum Classic Labs posted an entry confirming these intentions and a new roadmap regarding hardfork.

The Atlantis update is paired with a slightly later upgrade called Agharta and should activate the changes that were formally proposed for the original Ethereum network in 2017. Their goal is to improve interoperability between the two blockchains and facilitate the migration of decentralized applications (dApps) from one network to another.