Ethereum Classic Developers Declare Upcoming Hard Fork

On Monday, developers of the Ethereum Classic blockchain declared a hard fork to put into effect the project’s latest version, now lined up for launch in late July.

The upgrade, which the community has termed “Magneto,” will include the 4 Ethereum Improvement Proposals, first spotted in Ethereum’s Berlin upgrade earlier this year.

These suggestions are meant to upgrade the blockchain’s security while saving on gas costs by storing addresses and keys in one place for users to access with a single transaction.

Notably, beta testing on Ethereum Classic’s Morder and Kotti testnets began on 2nd June and 9th June, respectively. The Magneto fork is set to officially take place once these tests have drawn to a close.

Stevan Lohja, developer relations manager at Mantis, which is a full-featured client and wallet for Ethereum Classic, told the Ethereum Classic community,

“To ensure a successful fork, we ask ETC consumers to upgrade their node software to a Magneto compatible version if they have not done so already. If you’re not operating nodes or services, but use ETC through other services, then check with that service to ensure they’re supporting the Magneto hard fork.”

Earlier in the month of May, a couple of Ethereum Classic enthusiasts humorously referred to the project as “the wrong Ethereum” as the cryptocurrency’s price surged over three hundred percent. Perhaps, this is due to new digital asset traders confusing it for ETH.