The Ethereum Classic Project (ETC) recently defused the difficulty bomb. Ethereum Classic is thus further away from its younger brother Ethereum. What’s the deal with this bomb and the decision to disarm it?
The radical origin of Ethereum Classic
The year is 2016, Ethereum is already making waves in the crypto world and preparing for the DAO. At first everything looks good, but then a hack stands out. Panic is spreading in the markets. The Ethereum Foundation acts quickly and wants to undo the hack to save investors’ trust.
On July 20, 2016, just over a month after the attack on the DAO, a non-reverse compatible update will be installed in the Ethereum network – a hard fork. The champagne corks are already popping all over the world when it suddenly becomes clear that the old blockchain is being mined further. Instead of all participants being on the updated chain, there are some rebels who want to live in a different reality under the slogan “Code is Law”. A reality in which the Ethereum Foundation does not have the power to turn back time and change laws.
That was the split between Ethereum and Ethereum Classic. Even then it was all about a radical difference of opinion: “Is computer code a fixed law in the blockchain world or changeable?” The ETC representatives were happy to pay the price of the DAO hack for their conviction.
The Proof of Stake and the Difficulty Bomb
With the launch of Ethereum, the idea of the Proof of Stake (POS) was born. First, Ethereum should run with Proof of Work (POW) until the details of the Proof of Stake have been worked out. ETH is still in this phase and preparing for the POS. However, ETC has now decided to stick with the proof of work. The main reason for this is the decentralization that the POW brings.
The so-called difficulty bomb was originally built into the Ethereum protocol to move the miners from POW to POS. If it were lit, the difficulty of proof of work would double after each new block.
However, Ethereum Classic had already put the bomb on ice with the so-called “Diehard Upgrade”. Now the bomb has been finally defused and the decision has been made that ETC will remain with the proof of work.
The corresponding software for this hard fork has already been released three months in advance. The ETC community has also discussed this decision in detail. So this is not a night and fog action, but a well-considered and planned software update.
Ethereum Classic vs. Ethereum?
As a result, ETC and ETH are developing further and further apart. Both projects have the same origin, but similar to BTC and BCH there are different views on the future of the Protocol.
The ingenious thing about the blockchain technology comes out: instead of having to choose one or the other, enthusiasts can simply use both systems. ETH can prove in the future whether the Proof of Stake works.