Ethereum Classic will be hardforked

On Monday, the developers of the Ethereum Classic (ETC) blockchain announced a hard fork to implement the latest versionproject, which is scheduled to launch at the end of July.

The update, which the community has dubbed "Magneto", will include four Ethereum or EIP improvement proposals that appeared in the Ethereum Berlin update earlier this year.

These offers are designed to enhancenetwork security while reducing gas costs by storing addresses and keys in one place. This will allow users to gain access with a single transaction.

Beta testing of ETC's Morder and Kotti testnets began on June 2 and 9. Fork Magneto should be officially activated after completing these tests.

Stevan Lohja, Developer Relations Manager for Mantis, a full-featured client and wallet for Ethereum Classic, made a statement to the ETC community:

In order to successfully fork, we ask ETC consumers to update their node software to a version compatible with Magneto, if they have not already done so.

If you are not using nodes or services, but are using ETC through other services, please contact them to make sure they support the Magneto hard fork.

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