Ethereum Classic to Undergo Phoenix Hard Fork Upgrade

Ethereum Classic finally brought Ethereum’s Istanbul feature. It executed the pending upgrade to Ethereum’s classic chain. The twin of Ethereum Network had released Phoenix hard fork upgrade on May 31, 2020. This upgrade was released to bring compatibility between Ethereum Classic and its sibling Ethereum Network. As a result of this upgrade, these two platforms will have the same protocol.

Phoenix Hard Fork – Third Major Upgrade in the Series

The phoenix hard fork upgrade had been launched for the block 10,500,839. It was the developer’s third attempt to make Ethereum Classic compatible with the Ethereum Network and bring protocol parity between the two siblings.

It was the third upgrade that was scheduled to make Ethereum Classic compatible with its twin network. The two updates had been released earlier. The Agharta Fork and Atlantis happened to be the two upgrades that were released in 2019. According to this network developer, this recent Istanbul feature in this Ethereum Classic is designed to bring protocol parity between the Classic and Ethereum Network. After the release of this upgrade, the developers witnessed some common issues, which were believed to be the Istanbul feature. For instance, some clients have not been able to sync with the fork. The good news is that the Ethereum developers have said that this minor inconvenience will not disturb the network.

Some people believed that this latest upgrade could make Ethereum Classic the original “Ethereum.” However, the updates have not been able to draw the attention of the decentralized app developers. The native DApps are comparatively small as compared to their counterparts.

The Effects of The Recent Upgrade in Ethereum Classic

There is no denying that Ethereum Classic proved to be one of the major disappointments for all the investors and cryptocurrency traders in 2019. So, does this upgrade that brings compatibility between Ethereum Classic and Ethereum Network make it a profitable investment option? According to the reports, most of the opcodes (which were part of the Ethereum Network) have been added to the Ethereum Classic. This latest upgrade has proven to be a turning point for Classic. It has enhanced the potential of the network.

To ensure the fork’s successful functioning, the developers have recommended the users upgrade their software version. If you have not yet upgraded the system, upgrade it right away to make the best of Ethereum Classic. Apart from some minor issues, there hasn’t been any significant inconvenience reported after the upgrade.

The upgrade will bring protocol parity between the two siblings, which is further expected to help developers carry their apps to the blockchain. What’s interesting to note here is that several smart contract networks offer excellent compatibility with Ethereum. Take Smart Chain, for example. Now, users and developers can’t help but wait to see how this upgrade will bring changes to the Ethereum Classic community. The question is, ‘is it going to attract the community of developers’?

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