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New Ethereum Classic Team To Implement Number Of Projects

20:29 15/01/2019
New Division To Improve Ethereum Classic Blockchain

The innovative project incubator Ethereum Classic Labs has formed a new team, the aim of which is to work on the principal tasks of ETC, as reported in the blog.


Specialists from the newly created division, ETC Labs Core, will be engaged in the main projects of the company dealing with the support of the cryptocurrency blockchain, mining, and creation of tools for the development of dApps, as well as other services by Ethereum Classic.


The team’s roadmap is already published and includes work on a number of projects connected with protocols, the Ethereum virtual machine, blockchain applications, data analysis, and staff education.

First and foremost, the division will revise the Constantinople hardfork, the launch of which is scheduled for January 16. It will precede the adoption of the 1045 proposal, which will partially introduce the Byzantium and Constantinople protocols into the Ethereum Classic network.


The upcoming hardfork has already got the support from the cryptocurrency exchanges Binance and OKEx. The Constantinople code will ease the transition of Ethereum to the proof-of-stake algorithm, but miners will receive a smaller reward for a block. 


The specialists will also create tools to track and analyze the 51% attacks, one of which has recently occurred on the ETC network. This was reported by Coinbase, which noticed changes in the organization of the coin’s blockchain. The exchange stated that hackers double spent more than $1 million in cryptocurrency.


Earlier, a hacker organized a 51% attack on the Ethereum Classic network but decided to give $100,000 back to users. It is assumed that it was a warning attack, and the fraudster’s motive was to remind of the risk inherent in the blockchain consensus.

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