Ethereum Classic (ETC) Working To protect Immutability of Transactions from 51% Attacks

ETC Cooperative are committed to the policy of transparency in the Ethereum Classic Ecosystem. The achieved goals, milestones and financial are periodically published. The collective development of the blockchain client codebase than Hyperledger Besu. Of note, Hyperledger Besu supports ETC.

ETC Classic Tweeted: “Check out the @ETCCooperative’s newest network monitor site! It currently monitors some of the live @Hyperledger-#Besu nodes on ETC, including ones powering services like #BlockScout and #Ethercluster.”

The newest network monitor gives details of the best block, uncles, last block, avg block time, avg network hashrate, active nodes, gas price, gas limit, page latency, and uptime. Also, details like block time, difficulty, block propagation, uncle count, transactions, gas spending, gas limit, and last block miners and uptime will be published.

Sydney Ifergan, the crypto expert tweeted: “Ethereum Classic are committed to ensuring Client Diversity within ETC in a way to facilitate collective development of the blockchain client codebase. Right Choice! Sticking on to values.”

Ethereum Classic expressed, If MESS is adopted by the honest majority of #EthereumClassic nodes, it would raise chain state finality near-exponentially with negligible risk of network bifurcation.

In response, Vitalik Buterin expressed that he was excited to see ETC adopting weakly subjective fork choice rules to protect the immutability of transactions from being broken by 51% attacks!

Ethereum Classic (ETC) New People in the Team

There is a new Director of Developer Relations at ETC Cooperative. They recently bid farewell to Yaz Khoury and they will be joined by Stevan Lohja as their new Director. Also, Classic Kevin Lord will be the Full Time Community Manager.

Steven Lohja recently tweeted: “Coins with unlimited supply will continue to dilute you.” – Mashinsky – EthereumClassic: ~210 ml; Bitcoin: ~21 ml; Ethereum: Brrrrrr.”

When Yaz Khoury left, the community recollected on how he was an integral part of the growth and development of the open source project, particularly during the last few years. The community wished him the best of luck moving forward. They expressed that they were grateful for all their contributions to ETC. The community recalled his amazing, positive spirit.

Classic Kevin Lord retweeted: “It’s important to understand that due to 51% weakness of Proof-of-Work chains, waiting for longer confirmations is the only way to probabilistically reach transaction finality. Quantifying Immutability in ETC, BTC, and ETH. Quantifying Immutability in ETC, BTC, and ETH.”

The interesting thing is that small miners are supporting ETC regardless of the 80K confirmations. They have affirmed that they will stand by ETC until all of the vulnerabilities are fixed and even after.

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425 out of 615 Current Ethereum Classic (ETC) Nodes will not Upgrade in Future

ETC Labs recently announced Cohort III by @Venture_This and clarified that this is done with a focus on the ETC blockchain for impact and startups which support social, and economic issues. Further stating that they commit to supporting the 50% female founders and proudly introducing #Pngme, #Prescrypto, and #OpenRelay!

Also, Ethereum Classic (ETC) tweeted: We highly recommend all OE node operators to switch to the latest Hyperledger Besu ETC release. @Hyperledger Besu v1.5 Now Available • Major performance improvements • 33% TPS increase • Greater usability and privacy.”

Coindesk recently published about how Open Ethereum have decided to stop their support for the Ethereum Classic client in order to focus on their other projects. Further stated that they have concerns about the immutability of ETC. Also, the matter of concern is that the Multi-Geth client is not set to support the future network for similar reasons.

This means that 425 out of 615 current Ethereum Classic nodes would not upgrade in the future while developers make changes through hard forks. The node operators have the possibility to switch to other clients mentionted on the ETC website.

Thus Besu will have only three nodes and the Core Geth and 187 will be supporting if a hard fork will occur. OpenEthereum are trying to conserve developer energy for Parity-Ethereum.

Martin Köppelmann, Gnosis Founder reportedly is said to have told “Gnosis did not have the capacity or the willingness to get involved into the governance (aka “drama”) of other chains.” He clarified stating that they tried to explore different options to work ETC but stated that they feel they want to focus on Ethereum.

In response, Sydney Ifergan, the crypto expert tweeted: “It just feels very complicated to iron out the differences between ETC and ETH. It pops up in one form or the other. Interoperability challenge relates to smallness of minds.”

Ethereum Classic (ETC) Improving Capabilities of Bitcoin

The decreasing numbers of nodes needs to be fixed. Perhaps some blockchain divorces are irrevocable! The competition is brewing and hopefully ETC will become scalable than ETH fast. This is in a way good and bad for ETC.

At this right we need to wonder if there is a real hope for long-term interoperability between the chains. Anyway it is good about major performance improvements, 33% TPS increase, and greater usability and privacy in Besu 1.5 which is now available. So, Ethereum was originally created to continue the capabilities of Bitcoin and now ETC will torch bear the mission. Too many different kinds of block chains improving on the capabilities of ETC.

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Ethereum Classic To Lose Over 50% Of Nodes As Top Client, OpenEthereum, Moves On

  • Open Ethereum, led by Gnosis, calls quits on supporting Ethereum Classic (ETC) development.
  • The client, formerly Parity Technologies, holds nearly 50% of ETC nodes.
  • Will ETC still hold its immutability properties?

The largest developer client on Ethereum Classic, OpenEthereum (OE), completed a vote to deprecate development on the blockchain in a bid to focus their efforts on Ethereum and other projects.

Following the vote, only Core Geth and Hyperledger Besu clients – which hold less than a third of the nodes – will continue supporting the development of ETC.

The vote on GitHub raised concerns for ETC’s immutability as the third-largest client, Multi-Geth, also deprecated ETC development on any future hard forks.

Over 50% of ETC Nodes set to go off

According to ETCnodes.org, the total number of clients on ETC blockchain totals to 631 and will be reduced to 199 nodes (Core-Geth with 194 nodes and Hyperledger Besu accounting for five nodes) when developers update or hard fork the blockchain.

Image: etcnodes.org

OE is a project that replaced Parity Technologies once the latter transferred the entire client codebase to decentralized exchange, Gnosis. Since the start of 2020, ETC developers and OE developers have been at loggerheads on the overall implementation of the Phoenix hard fork on ETC.

Speaking on why Open Ethereum is moving from ETC client support, Martin Köppelmann, CEO and Founder of Gnosis, stated OE didn’t want to get into internal governance squabbles of ETC. He further said:

“We explored various options to work with different players from ETC, but in the end, we felt we want to focus on the thing we know and that is Ethereum.”

Other developers at Open Ethereum claim it is the “perfect time for divorce” as “supporting Classic is more trouble than what it’s worth.”

Ethereum Classic Developers Respond

The animosity between the two development camps has been ranging for some time, as shown in the tweet below:

Lessons learned: Don’t ever use Parity for production-level systems anymore.

I am very pleased to say that @Hyperledger Besu is now being used as an EVM client for a public endpoint like Blockscout Explorer for ETC.

Going to be shifting everything towards Besu moving forward.

— Yaz Khoury ? (@Yazanator) July 10, 2020

However, responding to the latest deprecation, CEO of ETC Labs, Terry Culver, had a more friendly approach towards Parity developers. As the leading developer on Core-Geth client, ETC Labs will have a larger pie on the development of ETC, but the reduction of nodes may be harmful to ETC’s security.

To prevent this, he called on ETC developers to find a balance between innovation and immutability developments on the blockchain.

Another lead developer, ETC Coop’s Executive Director, Bob Summerwill, does not focus much on Multi-Geth and OE, leaving the project calling on developers to switch to the available options. He stated:

“Multi-geth is dropping ETC support too, but both core-geth and Hyperledger Besu are both viable options which we will be recommending to end-users. Best wishes.”

Immutability: The backstory on Open Ethereum, ETC

The story can be traced back to 2016 when the Ethereum blockchain split after the DAO hack. The hard fork rolled back the transactions before the hack (forming the current ETH blockchain).

Still, some developers and users saw this as interference in the core principle of blockchains – immutability. This group remained on the original chain – renamed to Ethereum Classic.

Fast forward to 2020, and the Phoenix hard fork by ETC raised questions on immutability due to the “upgrade in the op-code pricing to align with ETH’s.” The op-code implementation raised questions on changing the tokenomics of ETC, which means the blockchain no longer holds immutability as a value proposition.

According to Multi-Geth and Parity core developer, Wei Tang, the lack of immutability on ETC makes the blockchain the same as ETH; hence it would be double work continuing to develop on both chains. His conclusion?

“I think for a healthy ecosystem of Ethereum, we should follow the majority consensus of ETH, or support a merge of ETH and ETC.”

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Ethereum Classic (ETC) Continues to be Buy Worthy Facilitating Inter Compatibility

With the upgrade of Phoenix, it is clear that the two networks consist of the same protocol and therefore are now fully inter-compatible. This Ethereum Classic is not in line with Ethereum. Both the projects have attained protocol parity. ETC makes use of features from earlier Istanbul fork.

Despite staying original, Ethereum Classic has not so far attracted a lot of app developers. The potential is limitless with the blockchain technology, and it is possible to create anything that one can think of. It is possible to disrupt industries, create one’s own business, literally build an empire in one’s niche, decentralize the existing paradigm, and ultimately help with several things that can help liberate humanity.

CoinDesk tweeted: “@eth_classic has largely followed @ethereum in lockstep. But as the larger chain goes toward proof-of-stake, ETC is sticking with proof-of-work – a.k.a. mining – in its latest hard fork.”

After Phoenix developers did identify a bug, which led to poor syncing with the OpenEthereum client on the ETC blockchain, while a hotfix has since been released, the ETC core has required node operators to migrate to Hyperledger Besu or Core-Geth.

The Hyperledger Developers have released Besu v1.4.6-RC2, which includes a critical software patch fixing network syncing issues observed post Phoenix ETC HF.

With the Protocol Parity, developers will be able to directly port their dApps from Ethereum to Ethereum Classic, permitting for seamless collaboration between the ETH, ETC.

Sydney Ifergan, the crypto expert, tweeted: “With Ethereum Classic Phoenix achieving protocol parity with ETH, it just seems like very soon there will be a lot of inter-compatibility upgrades happening in the industry.”

Ethereum Classic (ETC) Buy Worthy

When it comes to putting the infrastructure facilitated by ETC to use, a lot can be done about it. It is just that developers should pick the ones they like to work on and pay attention to it. ETC continues to be buy worthy.

LinzhiCorp has reported that they were able to hash above 800 Mhs on the Ethereum Classic Network, while they were into prototype testing of single duct tape held board.

New users are benefiting from the guides in the form of tutorials and walkthroughs. Information is available on every topic like for clients who are running their own ETC node, porting dApp over to ETC, tools that enhance developer experience, network resources that keep track of ETC blockchain, and mining resources.

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Ethereum Classic Announces 68% of Miners Confirms Support For ETC Phoenix Upgrade

Miners, making up ~68% hash-rate, have confirmed full support for the ETC #Phoenix network upgrade, expected on ETC mainnet at block 10_500_839, around June 3, 2020.#EthereumClassic Miners Confirm Support for Phoenix Hard-Fork https://t.co/gLUuuwV2GR via @StevanLohja@etclabs

— Ethereum Classic (@eth_classic) May 4, 2020

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Enterprise Ethereum Alliance Launches Testing Ground for Blockchain Interoperability

The Enterprise Ethereum Alliance (EEA), the standards group where finance and other industries explore private versions of ethereum technology, has launched a testing ground to bring about certified, branded and harmonized business uses by the end of 2020.

The EEA TestNet will operate as a pre-certification sandbox, where forks of ethereum can be standardized according to certain specifications set out previously by the EEA, which will make them interoperable with each other. There are now hundreds of companies working on enterprise versions of ethereum, plus an entirely new cohort of industry players joining the fold via Hyperledger’s ethereum-based member Besu, making standardization a priority.

As it stands, ethereum-based clients and protocols are frequently unable to talk to each other. For example, Quorum, the privacy-centric version of ethereum built by mega-bank JPMorgan, can’t operate with Hyperledger Besu, which is designed to work seamlessly across private deployments and the public ethereum mainnet.

Related:JPMorgan Spinoff Kadena Launches Public Blockchain, Integrates Wallet to Cosmos Network

“Early on in technology families, people do often make assumptions of interoperability. But when you actually put these pieces together in an app, they don’t work,” said Paul DiMarzio, director of community for the EEA.

The launch of the testing ground, developed by DLT testing platform Whiteblock Genesis, brings the EEA standards program into its “middle stage,” said DiMarzio.

“We are providing a place where clients can start to get their feet wet in a testing environment and then, towards the end of the year, will provide the actual ability to certify against those specifications. Then we can actually stamp things as being EEA certified and branded and have that guarantee of interoperability as opposed to an assumption,” he said.

Zak Cole, CEO of Whiteblock, takes up a role as chair of the EEA Testing and Certification Working Group. Cole said the TestNet will exist indefinitely as businesses continue to join the ethereum community. “Even if we have some tech specs finalized, people are going to want to be able to experiment within a low-risk environment,” he said.

Related:Traders Turn to DeFi to Capitalize on Tuesday’s Crypto Market Spike

There has been some suggestion of rivalry between JPMorgan’s Quorum and Hyperledger Besu, which was built by engineers at PegaSys, one of the main spokes in the ConsenSys wheel of ethereum-based startups.

The current disconnect between Quorum and Besu turns on a subtle difference in the implementation of the Istanbul Byzantine Fault Tolerant (IBFT) consensus algorithm (Besu refers to its version IBFT2), which DiMarzio said the new test environment could help “iron out.”

“Some scenarios include public transactions, private transactions, permissioning, block validation and the IBFT consensus mechanism,” said Dan Heyman, head of PegaSys, in a statement about planned test scenarios for Besu. “An EEA certification program is being talked about for potentially the end of 2020.”

JPMorgan declined to comment.

DiMarzio said EEA needs to coordinate its testing program with the Ethereum Foundation, which is overseeing the rollout of the ethereum 2.0 public blockchain, but the majority of the EEA’s focus is not directly concerned with the complex switch to a proof of stake (PoS) system of block creation.

“The EEA TestNet is intended for members to run applications that follow current EEA specifications. PoW and PoS are consensus algorithms, and the current EEA client spec does not dictate what specific consensus algorithm must be used. A shift in base protocols from PoW to PoS will of course be evaluated by the working groups to determine if the specs (and TestNet) should be changed,” he said.

Most private clients currently substitute different consensus algorithms, such as IBFT, Raft, and Proof of Elapsed Time (PoET).

“The EEA working groups are in particular looking at Byzantine Fault Tolerant consensus algorithms, primarily those related to IBFT, for potential future adds to the spec,” said DiMarzio.

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Ethereum Classic to Conduct Agharta Hard Fork on 12 January, But Only 36% of Nodes Are Ready

Ethereum Classic to Conduct Agharta Hard Fork on 12 January, But Only 36% of Nodes Are Ready

Ethereum Classic to Conduct Agharta Hard Fork on 12 January, But Only 36% of Nodes Are Ready

  • Ethereum Classic community is preparing for the upcoming Agharta hard fork scheduled to take place at block 9,573,000 mil on 12 January 2020.
  • ETC shared update on their official twitter today requesting node operators to update their nodes.

The Ethereum Classic community is preparing for the upcoming Agharta hard fork scheduled to take place at block 9,573,000 mil on 12 January 2020, it’s testnets is rolling out on the network before the launch of mainnet.

Ethereum Classic network released several testnets amid the upcoming hardfork. At block 1705549 on 14 December ETC released it’s latest Kotti testnet.

Today, Ethereum classic shared update on their official twitterrequesting node operators to update their nodes in soonest possible time to stay in consensus with ethereum classic network. They further mentioned that this isn’t a contentious hard-fork, this is a routine protocol update and no new coins will be created in the process.

#AghartaisComing – Please update your nodes as soon as possible!

Track live upgraded nodes here: https://t.co/EC2Tzp7XcD

The #EthereumClassic network is close to ready!

Multi-geth: v1.9.7

Parity-ethereum: >v2.5.13

Hyperledger-Besu: v1.3.8

Moar info: https://t.co/K3NcBLVobLpic.twitter.com/jo1Pp3bF4B

— Ethereum Classic (@eth_classic) January 8, 2020

On January 8th, data from EtcNodes revealed the date and time of hard fork based on block generation calculation, hard fork expected to conduct at about 21:00 on January 12, but only 36% of the nodes are currently ready.

The Agharta hard fork planned to conduct at a block height of 9573000, to make Ethereum classic compatible with Ethereum and to achieve interoperability between ETC and ETH networks.

With Agharta hardfork, ETC will add ETH Constantinople opcodes and CREATE2 opcode to enables the use of many state channels implementations on ETC, which was previously not available on ETC due to Opcodes were not added on ETC mainnet.

The Clients supporting Agharta hard fork include Classic Geth, Multi Geth, Parity, Hyperledger Besu, However, it would be the last hard fork supported by Classic Geth.

The hard fork upgrade will include EIP-145 (bit shift instruction in EVM), EIP-1014 (Skinny CREATE2 opcode), and EIP-1052 (EXTCODEHASH opcode). in particular:

  • EIP-145 will add shift related instructions to EVM;
  • EIP-1014 can significantly improve the performance of the state channel;
  • EIP-1052 will improve the development of smart contracts and simplify some operations in the code.

In their update, ETC has mentioned that along with ETH and ETC mainnet support (and Mordor and Kotti and Gorli) it will also include EEA enterprise support.

At the time of writing, ETC was trading at $4.88 with 0.91% increase against USD, while -3.71% decreases against BTC. The 24-hour volume recorded $1,020,353,902 USD with circulating supply of 116,313,299 ETC.

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