Successfull hard fork in the ETC Network

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Developers of Ethereum Classic announced the successful upgrade of the ETC network on the block 5,900,000, which allowed to eliminate the so-called “difficulty bomb”.

It is difficult to determine the exact number of updated nodes, however, according to the developers participating in the project, most nodes and mining pools reported updating their software long before the planned upgrade of the network.

Immediately after the upgrade, there were no signs of negative consequences or errors. It is expected that the update will shorten the time required for the creation of the block, and further off, both technically and ideologically, the blockchain of Ethereum and Ethereum Classic.

Discussion of the fork began in 2016. While the Ethereum community is leaning toward the transition to Proof-of-stake, the Ethereum Classic community decided to continue using Proof-of-work.

According to the participants of Ethereum Classic, this way of achieving consensus is more effective in opposing centralization. Supporters of this approach argue that the Proof-of-work algorithm requires that miners constantly invest in equipment and, consequently, in the blockchain.