Ethereum Classic’s Pheonix Upgrade to Activate on MainNet this June

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Steve Anderrson
Steve Anderson is an Australian crypto enthusiast. He is a specialist in management and trading for over 5 years. Steve has worked as a crypto trader, he loves learning about decentralisation, understanding the true potential of the blockchain. Join the official channel of thecoinrepublic, For the latest news updates: https://t.me/thecoinrepublic
  • Ethereum Classic is working on another network upgrade, Phoenix (ECIP-1088).
  • The phoenix, Ethereum Classic upgrade (ECIP-1088), which was successfully activated on the Mordor on March 9, 2020 and is scheduled to go live on the Kotti Testnet on April 13.
  • The successful activation of the pheonix on all the Testnets will proceed its implemention on the MainNet in the first week of June.

Ethereum Classic is working on another network upgrade, Phoenix (ECIP-1088), the main purpose is to increase the Ethereum Virtual Machine (EVM) capabilities of Ethereum Classic.

The Ethereum Virtual Machine focuses on the provision of security and works on the execution of untrusted and ambiguous code by computers all over the world. 

Phoenix, Ethereum Classic upgrade (ECIP-1088)

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The phoenix, Ethereum Classic upgrade (ECIP-1088), which was successfully activated on the Mordor on March 9, 2020 and is scheduled to go live on the Kotti Testnet on April 13. The successful activation of the pheonix on all the Testnets will proceed its implemention on the MainNet in the first week of June.

Atlantis and Agharta hard forks that have already been successful in improving the compatibility of ETC with ETH will now be utilized by Phoenix in the process of its building.

Pheonix release that was originally scheduled to take place on March 2020 release, experienced a slight delay. The reason was to allow developers have extra time in the monitoring of the rollout in the TestNet phases. Therefore, The ETC MainNet Phoenix activation is now scheduled to happen on or around 5 June at block 10_500_839.

Ethereum Classic’ Rise in 2015

Ethereum, a global, open-source platform for decentralized applications launched in July 2015 experienced the infamous DAO hack a year later that led to the splitting of blockchain into two: A part of ETC continued with the unaltered history of the network and the other part of ETH took lead in the terms of size of market share.

Vitalik Buterin, co-founder of Ethereum recently appeared to be affirmative about the reunion of Ethereum (ETH) and Ethereum Classic (ETC)  using the Eth 2.0 Beacon Chain, he stated that this  rejoining of the blockchains is a possibility but however, an instant enthusiasm from both the ETH and from the ETC community was not observed.

Grayscale Investments, a trusted authority on digital currency investing focuses on the provision of security access made a confirmation that they will continue to back the project by making a donation of one third of the management fees that is generated from its Grayscale Ethereum Classic Trust in the start of this year. Thus, adding a boost in the confidence of ETC developers and fuelling their enthusiasm.

Grayscale is reported to have made a donation of around $1.1 million for the purpose of aiding the blockchain’s development after it became an active supporter of the protocol in 2017.

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