Ethereum Classic Vision (ETCV) is a hard fork of the Ethereum Classic (ETC) blockchain that aims to create a more scalable and robust platform for decentralized applications. The key feature of Ethereum Classic Vision is the implementation of a new consensus algorithm called Proof-of-Stake Time (PoST).
Ethereum Classic Vision is set to occur at block number 8,500,000 on the Ethereum Classic blockchain. This hard fork will introduce several improvements and enhancements to the network, including increased security, improved scalability, and reduced energy consumption.
By implementing Proof-of-Stake Time, Ethereum Classic Vision aims to address some of the limitations and challenges associated with Proof-of-Work (PoW) algorithms, such as high energy consumption and susceptibility to 51% attacks. Proof-of-Stake Time incentivizes participants to validate transactions and secure the network by holding ETCV tokens for a specific period of time.
The Ethereum Classic Vision hard fork is expected to bring significant changes to the Ethereum Classic ecosystem and enhance its position as a leading platform for smart contracts and decentralized applications. It is important for ETC holders and users to stay informed about the developments and updates related to this hard fork.
Overview
Ethereum Classic Vision is a hard fork of the Ethereum Classic blockchain that aims to implement several improvements and bring new features to the network. It is scheduled to occur at block number 9,500,000.
The main goals of the Ethereum Classic Vision hard fork are to enhance security, scalability, and interoperability. By implementing new features and improvements, the project aims to provide a better experience for developers and users alike.
One of the key improvements introduced by the hard fork is the integration of the Ethereum Classic Vision Virtual Machine (ECVM). This virtual machine is designed to be faster and more efficient, enabling developers to build and execute smart contracts with increased speed and lower fees.
In addition to the ECVM, the hard fork also brings features such as sidechains and cross-chain compatibility. These features will allow Ethereum Classic Vision to interact with other blockchains and create a more interconnected and versatile ecosystem.
Overall, the Ethereum Classic Vision hard fork represents an important milestone in the evolution of the Ethereum Classic blockchain. It aims to address key issues and bring new capabilities to the network, positioning Ethereum Classic Vision as a competitive and innovative platform in the blockchain space.
Ethereum Classic
Ethereum Classic (ETC) is a cryptocurrency that originated as a result of a hard fork in the Ethereum blockchain. It is a continuation of the original Ethereum blockchain, which was created in 2015.
Despite the hard fork, Ethereum Classic adheres to the principles of decentralization and immutability. It believes in the concept of “code is law,” meaning that once a transaction is recorded on the blockchain, it cannot be modified or reversed.
Ethereum Classic follows the same protocol as Ethereum, with a few minor differences. The most notable difference is the removal of the “difficulty bomb,” which was included in the Ethereum blockchain to gradually increase the mining difficulty. This removal ensures that Ethereum Classic remains a proof-of-work (PoW) blockchain.
The Ethereum Classic vision hard fork, also known as Atlantis, was implemented at block number 8,772,000. This hard fork introduced several improvements to the network, including enhanced compatibility with Ethereum. The goal of the Atlantis hard fork was to bridge the gap between Ethereum Classic and Ethereum, allowing for easier cross-chain communication and development.
Overall, Ethereum Classic aims to provide a platform for decentralized applications (dApps) and smart contracts, just like Ethereum. It offers users the ability to create and execute trustless and immutable applications on its blockchain.
Vision and Goals
The Ethereum Classic Vision hard fork aims to achieve several key goals:
- Preserve the core principles and values of Ethereum Classic
- Enhance security and stability on the network
- Improve scalability and transaction speed
- Enable compatibility with DApps and smart contracts
- Encourage widespread adoption and usage of Ethereum Classic
- Enable the development of innovative decentralized applications
- Provide a robust platform for IoT and enterprise solutions
- Ensure the long-term sustainability and growth of the Ethereum Classic ecosystem
By addressing these goals, the Ethereum Classic Vision hard fork aims to position Ethereum Classic as a leading blockchain platform, capable of supporting a wide range of applications and use cases while remaining true to its decentralized and immutable nature.
Hard Fork
A hard fork is a process where the underlying technology of a blockchain is modified, resulting in a permanent divergence from the previous version, creating two separate chains. The Ethereum Classic Vision hard fork is one example of a hard fork that occurred on the Ethereum Classic blockchain.
During a hard fork, the rules and consensus mechanisms of the blockchain are changed, leading to a split in the network. This can happen for various reasons, such as implementing new features, improving security, or resolving conflicts within the community.
The Ethereum Classic Vision hard fork was scheduled to occur at a specific block height, which means that the fork happened at a predetermined block number. This block number acts as a reference point for all participants in the network to determine which chain they should follow.
One of the motivations behind the Ethereum Classic Vision hard fork was to make the Ethereum Classic blockchain more scalable and user-friendly. The fork aimed to introduce improvements in areas such as transaction speed, network fees, and smart contract functionality.
It’s important to note that after a hard fork, there can be two separate chains with their own tokens. In the case of the Ethereum Classic Vision hard fork, a new cryptocurrency called Ethereum Classic Vision (ETCV) was created, alongside the existing Ethereum Classic (ETC) tokens.
Participants in the Ethereum Classic network had the option to support the hard fork and receive an equivalent amount of Ethereum Classic Vision tokens. However, those who chose to remain on the original Ethereum Classic chain could continue using the existing ETC tokens without any changes.
In conclusion, a hard fork is a process where the technology of a blockchain is permanently modified, leading to the creation of two separate chains. The Ethereum Classic Vision hard fork was one instance of such a modification on the Ethereum Classic blockchain, aiming to improve scalability and user experience.
Block Identification
The Ethereum Classic Vision hard fork is expected to occur at a specific block number. To identify this block, you can use several methods:
- Check the official announcements: The Ethereum Classic Vision development team will announce the exact block number on their official website or social media channels.
- Check block explorers: Block explorers like Etherscan or Etherchain provide real-time information about the Ethereum Classic blockchain. By navigating to these websites and searching for Ethereum Classic Vision-related information, you can find the block number associated with the hard fork.
- Join developer communities: Participating in developer communities, such as the Ethereum Classic subreddit or Discord channels, can provide valuable insights and discussions on the upcoming hard fork. Developers and community members may share information regarding the block number for Ethereum Classic Vision.
By utilizing these methods, you can stay informed about the block number and be prepared for the Ethereum Classic Vision hard fork.
Impact and Benefits
The ethereum classic vision hard fork is expected to have several impacts and benefits for the ethereum classic community.
Improved Scalability
One of the main benefits of the hard fork is the improved scalability it brings to the ethereum classic network. By implementing new technical upgrades and improvements, the fork aims to increase the network’s transaction processing capacity, allowing for more efficient and faster transactions.
This enhanced scalability will not only benefit current ethereum classic users, but it will also attract new users to the platform, as it will provide a better user experience and allow for more widespread adoption of the technology.
Enhanced Security
Another significant impact of the hard fork is the enhanced security features it provides. The fork aims to implement stronger security measures and protocols, making the network more resistant to hacking attempts and other cyber threats.
This increased security will help protect users’ funds and personal information, reducing the risk of potential attacks and vulnerabilities. As a result, it will improve user trust and confidence in the ethereum classic platform, which is crucial for its long-term success.
Overall, the ethereum classic vision hard fork is expected to have a positive impact on the ethereum classic community, bringing improved scalability and enhanced security. These benefits will help attract new users and support the long-term growth and development of the platform.
