Ethereum Classic Skyrockets Due To The New Atlantis Upgrade, Rising Over 20% This Weekend
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Ethereum Classic (ETC) became the largest gainer among the top 100 due to the imminent network upgrade known as Atlantis. After a 51% attack experienced by the network at the beginning of the current year, ETC is improving its presence in the market with a new update.
Ethereum Classic Saw Nearly 30% Gains In 24 Hours
During the last few days, we have been talking about how Bitcoin (BTC) and other digital assets have been growing in the market. This is clearly very positive for the space that was waiting for positive news coming from market participants.
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This time, Ethereum Classic will be implementing the ECIP-1054 (Ethereum Classic Improvement Proposal) that is called Atlantis. This will allow the network to integrate “Byzantium” and “Spurious Dragon” upgrades that were made in Ethereum and that would assure cross chain compatibility.
According to a recent Medium post, ETC core developers prepared this hard fork specification that will be integrating the aforementioned improvements made in Ethereum to assure compatibility across chains.
ETC node operators, mining pools, miners, developers, and other participants in the ecosystems have been invited to a voice chat to talk about these changes, gain consensus and also discuss variations to Atlantis.
As per the blog post, Atlantis has already undergone developer technical discussion and it is ready for “wider community discussion.”
The blog post explains the current situation in the market:
“ECIP-1054 named “Atlantis” has undergone developer technical discussion and is ready for a wider community discussion with node operators, miners, and the rest of the network participants and users.”
https://twitter.com/eth_classic/status/1114090299184123904
As mentioned before, Ethereum Classic experienced a 51% attack earlier this year that has affected the network. An unknown attacker decided to alter transactions on the network causing exchanges to halt ETC deposits and withdrawals for a long period of time.
At the same time, at the end of 2018, the Ethereum Classic community became divided regarding an attempted community takeover by Digital Finance Group (DFG). DFG is in charge, or at least it was, of ETC Labs, and it is one of the most active developers in the ETC network.
At the time of writing this article, Ethereum Classic is the 16th largest digital asset in the market with a market cap of $843 million and a price per coin of $7.7. In the last 24 hours, the digital asset grew over 29%.
source: https://bitcoinexchangeguide.com/ethereum-classic-skyrockets-due-to-the-new-atlantis-upgrade-rising-over-20-this-weekend/