The development teams of Ethereum Classic are working on the upgrade of the Magento Network, according to the recent announcement. The decentralized computation platform, Ethereum Classic, is known for the execution of smart contracts. Its distribution network consists of its native cryptocurrency called ETC, a Blockchain Ledger, and a powerful ecosystem of on-chain services and applications. The network of Magento includes the upgraded features of Ethereum Berlin. The Magento Proposal for the Magento upgrade was moved at the ETC Call 17 conference, and a schedule was formulated for the upgrade work.
The upgrade work schedule is dependent on the successful activation of TestNet. The tentative dates of activating the TestNet are mentioned below:
- Mordor TestNet on 2021–06–02
- Kotti TestNet on 2021–06–09
- Sagano TestNet on a date yet to be decided
- ETC MainNet on 2021–07–21
To successfully complete the Magneto Hard Fork schedule, the ETC consumers need to update the node software to the Magneto compatible version. There are many clients who do not operate the nodes or services. These clients may employ ETC through other services to support Magneto hard fork.
The code for upgrading the Ethereum Classic network is called Magento as per the specifications of ECIP 1103. Magento includes the Ethereum Berlin upgrade consisting of EIPs optimizing gas and ETC transactions that are equipped with security improvements significant for the Ethereum Classic network. The Magento hard fork shall be able to transform the protocol of Ethereum Classic for the creation of a new protocol that will enhance the system. The changes in the protocol get activated at specific block numbers. Every Ethereum Classic client needs to upgrade to ensure that they do not remain stuck with the previous version of the Chain that is now rendered incompatible.
Every Ethereum Classic client needs to upgrade to ensure that they do not remain stuck with the previous version of the Chain that is now rendered incompatible. Ethereum Classic has been showing a rising tendency in terms of prices and technological advancements, and hence, according to our Ethereum Classic forecast, the ETC might record significant growth in the upcoming months.