- Updates in the Ethereum Classic ecosystem will support greater interoperability with Ethereum. ETC can benefit from Ethereum’s dominance in the DApps market.
- The Ethereum Classic team is focused on increasing security, immutability and stability in the ETC ecosystem.
In an Ask Me Anything (AMA) session with Messari, Bob Summerwill spoke about the Ethereum Classic – Ethereum Compatibility. The ETC Cooperative Executive Director outlined the potential benefits and priorities of the ETC team.
Since last year, Ethereum Classic has been implementing a series of hard forks to increase compatibility with Ethereum. The last two updates, Atlantis and Agharta, have been activated successfully. Agharta was activated on January 12, 2020 in block 9,573,000 and included the operation codes of the Ethereum updates Constantinople and St. Petersburg in the ETC Mainnent.
Why is Ethereum Classic – Ethereum compatibility important?
During the AMA session, Summerwill discussed why the ETC team is focused on increasing compatibility with Ethereum. Summerwill says:
“Reason or benefit for Ethereum compatibility” is pretty obvious! Ethereum is by far the dominant smart contract platform (roughly 90-95% of all dapps are on ETH). Compatibility means that such dapps can also be used on ETC without any problems.
Additionally, Summerwill said that the Ethereum Classic protocol was behind schedule and inferior in terms of the tools provided. The Ethereum protocol, on the other hand, is simpler and more open to application development. Summerwill said cross-platform compatibility will be completed with the next hard fork called Aztlan.
Aztlan has been announced as a fork that will be a link between Ethereum Classic and Ethereum’s Istanbul hard fork. The update doesn’t have a release date yet, but it’s set to be announced in 2020.
Summerwill also states that 100% compatibility between Ethereum Classic and Ethereum will not be permanent. For the ETC team, there are more important priorities such as improving the security, sustainability and immutability of the ETC. This last point is particularly important as it will ensure the continuity of smart contracts on the ETC platform.
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Vitalik Buterin confirms possible merger of Ethereum with Ethereum Classic
Ethereum co-founder Vitalik Buterin spoke about the compatibility between these platforms. Buterin said that a merger between Ethereum and Ethereum Classic is technically possible using the Beacon Chain Eth 2.0. An integration could occur using a Shard of the Ethereum 2.0 to copy and implement functional mechanisms from the ETC blockchain. Buterin explained:
Technically very possible! You can just use the same merger process to import the ETC status planned for ETH and then the ETC execution environment code would enforce a different exchange rate than Beacon Chain eth based on the rate at the time of the merger (…)
However, Buterin made it clear that implementing this opportunity is entirely the responsibility of the ETC community. Buterin’s proposal was not met with enthusiasm in the community. Most users are against the idea and only one option remains for now.
Ethereum Classic is priced at $8.73 at the time of publication, with a 3.65% gain in the last 24 hours.
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