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After an intense rally witnessed in the cryptocurrency market, the trends have reversed. Bitcoin along with altcoins has moved down the price scale, but that hasn’t stopped the next developments. Ethereum Classic is ready for its hard fork, Thanos [ECIP 1099], scheduled for November 29th. To keep up with the developing ecosystem, Binance has announced that it is supporting this upcoming hard fork.
The announcement read:
“Binance will support the upcoming Ethereum Classic (ETC) hard fork and upgrade to the height of the 11,700,000 Ethereum Classic block. ETC deposits and withdrawals will be suspended on 11/28/2020 at 02:00 AM (UTC) and will reopen deposits and withdrawals for ETC once the updated network is deemed stable. “
Coping with a 51% attack
Thanos’ hard fork will mark an important milestone for ETH as the network will support existing miners and attract new ones while maintaining compatibility with Ethereum [ETH]. This update will also allow the ecosystem to withstand a 51% attack, to which we have recently seen it vulnerable.
Ethereum Classic Labs founder and president James Wo noted:
“After the successful implementation of MESS, the purpose algorithm that provides 51% protection, we continue to see Ethereum Classic innovate and grow in a way that stands out and increases functionality for its users.”
Thanos’ update will help reduce the direct acyclic graph [DAG] size to cultivate a more distributed and healthier mining ecosystem, increasing the hash rate, allowing miners to continue mining ETCs.
Mainnet launch
The Mordor Testnet was activated in October and implemented the Thanos update. The mainnet activation is estimated to take place in block 11.7 million on November 29th.
Considered the next natural step in ETC’s development, the team advised miners to upgrade their mining software to continue mining the digital asset. Clients were also asked to upgrade their nodes to Core-geth v1.11.16 or later.
