ETC performed its scheduled Phoenix hard fork yesterday, May 31st to bring the ETH Istanbul features to the classic chain which made two of the protocols fully compatible with each other as we are reading in the Ethereum Classic news today.
The twin sibling of the Ethereum network, ETC performed the scheduled Phoenix hard fork on May 31 which included the features from Ethereum’s Istanbul fork. The upgrade means that both of the networks share the same protocol and are fully inter-compatible. The hard fork was scheduled for block 10,500,839 which was mined at 8:00 P.M. Eastern time yesterday, May 31st.
Atlantis, Agharta, and Phoenix complete the ETC-ETH parity making way for more valuable research and innovations to come. Phoenix marks the 3rd upgrade completed in this series for #EthereumClassic.
🎉 Phoenix Successfully Activates on Ethereum Classic 🎉 https://t.co/pyaDRSYZtD
— Ethereum Classic (@eth_classic) June 1, 2020
The fork is the third of the forks in the series of recent upgrades that aims to bring Ethereum Classic in line with the popular sibling. Back in December, the Agharta fork ported the Constantinople features to ETC while Atlantis was activated back in 2019. The inclusion of Istanbul features means that two of the projects reached protocol parity according to the Ethereum developer Afri Schoedon. Some small issues emerged as a result of the fork and a smaller portion of the miners remained on the old chain. Some of the clients have also not been synchronized with the hard fork, more specifically the Hyperledger Besu. The ETC team said that this will not affect the network as BESU was primarily used for enterprise settings.
Ethereum Classic can be considered the original Ethereum as the DAO consequences were not reverted. Despite this, it has also failed to attract more dapp developers while its own DAPP remains smaller in comparison to other competitors. Its ETC coin did gain some traction and it was introduced to Gitcoin as a payment option for developer bounties. The ETC coin was introduced as a collateral form for Fantom-based decentralized finance, which acted in a smaller fashion to Ether.
Reaching the protocol parity could allow Ethereum developers to port their apps to the sister blockchain. Many other smart contract platforms are compatible with Ethereum such as Binance recently introduced the Smart Chain. It still remains to be seen if Ethereum Classic will succeed in attracting a bigger developer community as a result of the recent developments, as we reported in the latest Ethereum classic news. Looking at the daily charts, the price is trading above the moving averages and both of them are now offering more support to Ethereum Classic at the time of writing.
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