ETC hard fork controversy settled, Coinbase opens ETC withdrawal service

ETC Development

Last week, the focus of the ETC community was on the hard fork and the re-pricing of gas. The hard fork was successfully executed at区块2,500,000 , and the hashrate has stabilized at 650 mh/s . Currently, the focus of ETC development has shifted back to monetary policy and management.

Earlier, the Classic Ether Wallet (wallet) Google Chrome plug-in had compatibility issues with the new API and could not process account transactions. Currently, the Chrome API has been fixed and Classic Ether Wallet can be used. Soon users will be able to download the latest version of Classic Ether Wallet 0.1.1 in the Chrome store.

China Bitcoin (CHBTC) once again donates to ETC development fund

China Bitcoin donated 4016个ETC to the community development fund. This is also the second donation by China Bitcoin.

Coinbase GDAX Exchange Opens ETC Withdrawal Service

ETH hard forked on July 20 this year. Currently, GDAX users can对这部分额外产生的ETC进行提现.

Discussion on the immutability of blockchain

1. Dr. Seberino published an article, citing the example of JAVA virtual machine to illustrate the rationality of the hard fork of ETH and ETC.

He wrote in the article:

The JAVA virtual machine (JVM) provides a platform for people to run programs under the same conditions. The principles of running programs on ETH and ETC are also very similar. In other words, everyone is like using the same machine! As long as the results are the same, JVM users don’t care about the specific way the program runs. Recent DOS attacks in the ETH and ETC networks took advantage of this simulation function of the system, affecting its normal operation. The decision to hard fork is just to improve the efficiency of the system. No other aspects will be changed.

There is no need for network nodes to keep accounts that do not exist or are empty. This attack created millions of empty accounts, which took up a lot of storage space. The hard fork is only to prevent the waste of space caused by these accounts. Since these accounts do not belong to this blockchain at all, this hard fork does not count as a change to the blockchain itself.

2. An author with the pen name Rocky published an article titled "The immutability of blockchain and hard forks can coexist." The article mainly expressed the author's views on hard forks. In the author's opinion, hard forks that change historical transactions on blockchains are undesirable, while hard forks that fix system vulnerabilities are very necessary. He wrote:

When ETH was first established, a social contract was established that hard forks were part of its development and evolution. As part of ETH's initial social contract, ETC will not resist hard forks, but will only use them for protocol updates.

The ETC blockchain is fair to all smart contracts and transactions on the ledger. ETC's goal is to ensure that the initial social contract of ETH - immutability - continues. Like Bitcoin, ETC is maintained by volunteers in the community and strives to achieve true decentralization.

Community development in numbers

The community activity is as follows:

Twitter — 34,100 followers
Reddit /r/EthereumClassic — 2,854 subscribers
Slack discussion group – 1,377 participants
Telegram (communication app) — 790 users
WeChat — 475 users

Mining community updates:

Miners – 644.17 GH/s (Source: Gastracker.io)

Top five mining pools by hashrate in the past 7 days

EtherMine – 105.05 GH/s
91Pool – 103.74 GH/s
Nanopool – 97.79 GH/s
Epool – 50.80 GH/s
Coinotron – 36.71 GH/s