- Updates to 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 talked about the compatibility between Ethereum Classic and Ethereum. The Managing Director of ETC Cooperative explained the potential benefits and priorities for 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, were successfully activated. Agharta was activated on January 12, 2020 at block 9,573,000 and integrated the Ethereum updates Constantinople and St. Petersburg operating codes into the ETC maintent.
Why is compatibility between Ethereum Classic and Ethereum important?
During the AMA session, Summerwill discussed why the ETC team is focused on improving compatibility with Ethereum. Summerwill said:
“Reason or Benefit for Ethereum Compatibility” is pretty obvious! Ethereum is by far the dominant smart contract platform (around 90-95% of all Dapps are on ETH). Compatibility means that such dapps can also be easily deployed on ETC.
Additionally, Summerwill said that the Ethereum Classic protocol is lagging behind and inferior in terms of the tools it provides. The Ethereum protocol, on the other hand, is simpler and more open to application development. Summerwill said that cross-platform compatibility will be completed with the next hard fork called Aztlan.
Aztlan was announced as a fork that will provide a connection between the Ethereum Classic and the Istanbul Hard Fork of Ethereum. The update does not yet have a release date, but is expected 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 ensures the continuity of smart contracts on the ETC platform.
Vitalik Buterin confirms a possible merger of Ethereum with Ethereum Classic
Vitalik Buterin, co-founder of Ethereum, spoke about the compatibility between these platforms. Buterin said that a merger between Ethereum and Ethereum Classic is technically possible using the Eth 2.0 beacon chain. Integration could occur if an Ethereum 2.0 shard is used to copy and implement functional mechanisms from the ETC blockchain. Buterin explained:
Technically very possible! You can simply use the same merger process to import the ETC state scheduled for ETH and then the ETC execution environment code would force a different exchange rate against the Beacon Chain Eth based on the rate at the time of the merger (… )
However, Buterin made it clear that it is solely the responsibility of the ETC community to make this possibility a reality. Buterin's proposal did not spark enthusiasm in the community. Most users reject this idea and it remains only an option for now.
The price of Ethereum Classic is $8.73 at the time of publication, with a gain of 3.65% in the last 24 hours.
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