Phoenix, the Ethereum Classic hard fork launched at the end of May, has been successfully activated. It is an implementation that allows the ETC chain to be compatible with Istanbul, an Ethereum upgrade. 

As reported by ETC Labs, the hard fork (hard fork) which was launched on May 31 of this year, has been successfully completed. This implementation of Ethereum Classic aims to allow the network to be fully compatible with the Ethereum network. Who launched its update Istanbul, in December 2019. A fork that aims to bring the network speed to 3.000 transactions per second (TPS), as revealed Vitalik Buterin at the time. 

Now, through PhoenixEthereum Classic has managed to share the same protocol with Ethereum. In order to align with this network and become fully compatible with it. Likewise, Phoenix is ​​not the first fork that takes place within the ETC network. Rather, it is occupying the third place in this series of events aimed at improving the network and achieving parity between both protocols. 

In this sense, it is important to highlight that during the month of December, the fork Aghart in Ethereum Classic added the features of Constantinople of Ethereum. The same thing happened with the fork Atlantis which took place at the end of last year.

In reference to the Phoenix hard fork, Ethereum developer Afri Schoedon recently mentioned on his Twitter account that:

«Classic and Ethereum have reached protocol parity.»

What does the Phoenix hard fork achieve for ETC?

With the implementation of this improvement in ETC, it is achieves parity and interoperability between both networks for the first time. Since Phoenix allows the characteristics and qualities that Istanbul possesses to be included in the ETC network. 

The update makes it possible to integrate several opcodes (operation codes) within Ethereum Classic. A fact that demonstrates the great development that the ETC network has had recently. Since the 3 forks of the network have been proposed and presented consecutively during the last year. 

In this regard, ETC Labs CEO Terry Culver noted that:

“The upgrade also marks a major turning point for Ethereum Classic, where the community is now in a position to drive further innovation, collaborate, and make new technical contributions to the ETC and ETH communities.”

Likewise, the team in charge of the development and implementation of Phoenix stated on one occasion that the fork had been implemented in all the test networks that ETC has. Therefore, they were fully prepared for its launch and activation on the ETC mainnet. 

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The future of Ethereum Classic under construction

Ethereum Classic was born Ethereum Classic was a fork of the Ethereum network, following the hacking of Ethereum in 2016. When this terrible event happened, the network split into two, taking different paths. A fact that gave rise to what we know today as Ethereum and Ethereum Classic. In the first, the funds stolen by the hackers were returned to their owners (Ethereum). While in the second, the network continued its course and maintained the original blockchain (Ethereum Classic). 

Learn with Academy Bit2Me: Learn more about Ethereum Classic. 

Thus, although Ethereum Classic can be considered the original network, its development has not been as successful as its twin brother Ethereum. Although it should be noted that its cryptocurrency ETC has had a certain level of momentum and growth in recent years. 

ETC developers have implemented solutions that bring usability to the currency and the network. For example, in Fantom ETC was implemented as a collateral for DeFi. Very similar to how ETH acts within MakerDAO.  

However, with the launch of Phoenix, interoperability between both networks can greatly boost the development of Ethereum Classic. Ethereum developers will be able to export their applications directly to the ETC blockchain. As well as the rest of the platforms that are also compatible with the Ethereum blockchain. A process that can encourage investors to turn their attention to Ethereum Classic and its current development potential. 

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