Cryptocurrency News

Ethereum Classic Implements Atlantis Update Hard Fork Successfully

The team of ETC (Ethereum Classic) has executed the Atlantis update, i.e., a hard fork to improve the functionality and compatibility of Altcoin with ETH (Ethereum).

Yaz Khoury, the ETC director of the Developer Relations, posted news on Twitter on September 12, 2019, that he congratulated Ethereum Classic for the implementation of Atlantis hard fork successfully.  He is happy with the development of the project. The activation by ETH was one of the longest debates to arrive at a consensus with a lot of immutable politics. He learned about the decentralization and a distributed community.

ETC is performing Atlantis hard fork with a recorded estimated time, i.e. between September 12, 2019 and September 13, 2019, at 8,772,000 of block height. ETC labs said that there were a lot of meetings to decide the timing, involvement, and scope. Now, they have decided the timing and direction to release the Atlantis. The hard fork will improve security considering the concerns of the community.

In June, it was announced that it was considered to put the hard fork at the 8.75 million block number by the developers and contributors. It was predicted to be executed on September 15, 2019. During this week, ETC labs will increase the block number to have the projected update. The involved parties will discover and deal with any issues that may happen.

According to the announcement of the hard fork, many industry players are supporting ETC, which also includes Cryptocurrency exchange OKEx. The exchanges revealed on September 10, 2019, that they will handle all the technical issues as well as resume services after the ETC mainnet gets stable. Yesterday, Bitfinex, the trading platform in cryptocurrency announced that they will also support Atlantis.

In 2016, a hacked funding mechanism, DAO caused a rift in the community of cryptocurrencies. According to Culver, the project is separate, but still, they are sharing the same goals. Culver said that he believed in the power of the public blockchain as it will make the community more strong. The CEO and founder of Digital Currency Group, Barry Silbert said in a joke that he was looking forward to getting his Ethereum Classic Atlantis coins.

Erica Lee

Erica is a finance professional who has over a decade of experience in the finance sector as a management consultant. After years of reporting on forex, stock markets, and finance, she now contributes her strong financial skills with the CoinNewsSpan team. Since 2014, she has been deeply involved in the blockchain and cryptocurrency space. She believes that blockchain technology has tremendous potential to make our lives better.

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