- Updates in the Ethereum Classic ecosystem will support a bigger interoperability with Ethereum. ETC can benefit from Ethereum’s dominance in the DApps market.
- The Ethereum Classic team is focused on increasing security, immutability, and stability in the ETC ecosystem.
In an Ask Me Anything (AMA) session with Messari, Bob Summerwill talked about the Ethereum Classic – Ethereum compatibility. The Executive Director at ETC Cooperative outlined the potential benefits and priorities of for ETC team.
Since last year, Ethereum Classic has been implementing a series of hard forks to increase its compatibility with Ethereum. The last two updates, Atlantis and Agharta, were successfully activated. Agharta was activated on January 12, 2020 in block 9,573,000 and incorporated the operation codes of the Ethereum updates Constantinople and St. Petersburg into the ETC mainnent.
Why is the Ethereum Classic – Ethereum compatibility important?
During the AMA session, Summerwill discussed why the ETC team is focusing on increasing compatibility with Ethereum. Summerwill said:
“Reason or benefit for Ethereum compatibility” is pretty obvious! Ethereum is by far the dominant smart contract platform (something like 90-95% of all dapps are on ETH). Compatibility means that such dapps can trivially be deployed on ETC as well.
In addition, Summerwill said that the Ethereum Classic protocol was behind schedule and inferior in terms of the tools it provided. The Ethereum protocol, on the other hand, is simpler and more open to application development. Summerwill said that cross-platform compatibility will be completed with the next hard fork known as Aztlan.
Aztlan was announced as a fork that will be a link between the Ethereum Classic and the Ethereum’s Istanbul hard fork. The update does not have a release date yet, but is expected to be announced in 2020.
Summerwill furthermore states that 100% compatibility between the Ethereum Classic and the Ethereum will not be permanent. For the ETC team there are more important priorities such as improving the safety, sustainability and immutability of the ETC. This last point is particularly important because it will ensure the continuity of the smart contracts on the ETC platform.
Vitalik Buterin confirms possible fusion of Ethereum with Ethereum Classic
Ethereum co-founder Vitalik Buterin spoke about the compatibility between these platforms. Buterin said that a fusion between the Ethereum and Ethereum Classic is technically possible if the Beacon Chain Eth 2.0 is used. Integration could occur if a Shard of the Ethereum 2.0 is used to copy and implement functional mechanisms from the ETC blockchain. Buterin stated:
Technically very possible! You can just use the same merger process to import the ETC state that is planned for ETH, and then the ETC execution environment code would enforce a different exchange rate vs beacon chain eth, based on the rate at the time of the merger (…)
However, Buterin made it clear that putting this possibility into action is entirely up to the ETC community. Buterin’s proposal did not arouse enthusiasm in the community. Most users are opposed to the idea and, for now, it remains only as a possibility.
The price of Ethereum Classic is $8.73, at the time of publication, with a profit of 3.65% in the last 24 hours.