The technical upgrade will improve the network on the Ethereum’s Constantinople hard fork that is need of this hour. ETC Lab aims at working for Ethereum Classic core projects and introducing the developments that are extremely required for a stronger Ethereum structure and network. ETC Lab core has the prior focus on the Constantinople that is on delay since last year. The second target of the ETC Lab core team is Improvement Proposal 1045, that will work on improving the different Ethereum’s Byzantium and Constantinople to upgrade on the ETC network.
Expert-selected members in the team will be working on the tools and structure including the development of the blockchains and the coins. The team at ETC labs will focus on the decentralizing application, main part at the beginning of the job is studying on Constantinople that was delayed till January 2019, due to the “consensus issues”. The advanced technology working on Constantinople hard fork updated Ethereum. It is designed to improve the processing of the network.
Ethereum’s Constantinople hard fork is supposedly complicated and the whole world is eyeing it. Coinbase team first detected eight reorganizations that included double spends, totaling 88,500 ETC (approximately $460,000). The threat on Ethereum in the month of January was of 51% that is the loss of about $1 million Ethereum coins, as mentioned on Cointelegraph.
According to The Street reports that Avivah Litan, Gartner cybersecurity expert said, “The 51 percent attack is a real threat, which is why users should only trade in crypto that has substantial hashpower.”
Spending twice on transactions has put in a concern to work on the” Proof of Work” which is a consensus model, and it is believed the recent attack may be because of PoW. Few blockchain community members believe that the “Proof of stake” model may be more stable to be implemented in the network. In spite of the severe networking and technical issues, ETC has shown an increase in the graph to about 2.57 percent within the last twenty-four hours. Therefore looking forward to Ethereum’s Constantinople hard fork overcome its testing issues and form a support to the Ethereum’s Classic projects.[The views and opinions expressed in this article are those of the authors and do not necessarily reflect the views and/or the official policy of the website. ]