The Ethereum Hard Fork & Ethereum Classic

The Ethereum Hard-Fork went as smoothly as possible. The event took place at Jul-20-2016 01:20:40 PM UTC and it was received quite well by the community, according to the price charts. 

Ethereum kept rising  hours before the Hard-Fork and it kept on doing so after. No bugs or complications were brought up and the hacker, whose identity is still unknown, has been left empty-handed… On the new side of the fork at least.Fork

A small group within the Ethereum community has stayed on the old side of the fork with their own duplicate blockchain. This project is called Ethereum Classic and it promises to keep the ecosystem decentralized and free from censorship.

This is a contradictory view to some, in the sense that Ethereum Classic has kept their own set of rules despite the consensus of the community, which is the exact opposite of what decentralized and censorship-free means. The project gained traction, none the less, with two mining pools dedicated to classic miners.

Bitshares, a decentralized cryptocurrency exchange, has also added the ETHC coin for trading. This may be problematic and confusing to users, who may end up sending coins from the classic blockchain to a deposit address meant for the Ethereum chain.

fork 2

Classic team members hope that the difficulty will drop within the next day bringing the blockchain to a sustainable level, and the block time back to a 14-second average. Many argue that this feat may not be accomplished due to the lack of miners on the classic blockchain.

Will exchanges add this “new ethereum”? Will developers build on it? Ethereum based cryptocurrencies like Shift, Expanse and Krypton can also be seen as an “alternative” to Ethereum as they provide the same features, they do not reward the DAO hacker (as ETHC does) when gaining value and they have different communities and different developers.

The Ethereum project is open source and anyone can clone it with the changes they deem necessary, without the need to subject unaware users to lose funds or to mine on the wrong blockchain by accident.

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  • ken

    We need this to go viral

    From here on out, I will refer to the ethereum blockchains as ETHc and ETHf

    I implore everyone to do the same.

    ETH cant be used for the new forked blockchain.

    We need this to go viral.

    ETHc and ETHf

    The hashing power has grown for ETHc. We are over 500 while the hashing power for ETHf has taken a hit.

    We need the hashing power of ETHc to equal ETHf. This is when a true, open debate can only happen.

    If you have a miner, lend some hashing power to the ETHc blockchain if you believe in a true, open debate within the community by the masses and not by those that are large bag holders pulling all the strings.

    They are looking out for their best interest financially in the short term.

    As long as people hold ETHf, they will not be able to have an open mind and to be objective.

    Lets bring the two sides together and have a true debate.

    Copy and paste this everywhere or write your own.

    We need this to go viral.

    ETHc and ETHf