Ethereum Classic (ETC) is preparing for a major update that has been called Atlantis. It includes a hard bifurcation that will be carried out at the height of the block 8,750,000 of this chain of blocks, which is expected in early September of this year, according to the current rate of generation of blocks.
If successful, Atlantis will allow modifying the network's adjustment formula, and also adding new functionalities to the Virtual Machine of this network, taken from the recent bifurcation lived by Ethereum, Byzantium.
Criptonoticias spoke with Don Donald McIntyre, who is an active member of the ETC community. One of the central issues, says McIntyre, was the modification of the formula for the adjustment of the network's mining problem, as well as the addition of new features for the development of the ETC code.
The main purpose, he argues, is to prevent uncles (uncle) blocks from being used to manipulate the cryptoactive emission of this chain of blocks.
Ethereum Classic, like Ethereum, generates the main blocks, but also generates what are called "uncles" that are valid blocks, which arrive at the same time, but are not considered part of the central chain. As these also receive a small compensation through the mining reward, they can be manipulated to issue more ETC than the monetary policy estimates. With this modification, the difficulty for general blocks is going to adjust including the amount of uncles, making it more difficult to create them, minimizing the possible creation of money through the uncles.
According to McIntyre, although this will not affect the network, over time it could have an impact on the price of ETC, as it will help to make the monetary policy of ETC much more predictable, which reduces inflation with a limit broadcast. McIntyre said that ETC will have a maximum issuance of 210 million, which could have been modified by taking advantage of the so-called uncles blocks.
We also asked about the decision to add only certain opcodes or operating codes from the Ethereum Virtual Machine (EVM) to the ETC Virtual Machine after the Atlantis fork. This decision was not risky, emphasizes McIntyre, but aims to improve the functionality of ETCVM.
The new opcodes are REVERT, which will prevent smart contracts that have errors from consuming gas and reporting the error; RETURNDATASIZE and RETURNDATACOPY, opcodes that, combined, "allow the creation and retention of information of arbitrary size during the execution of a contract. Before, the size of that information had to be exact, "explained McIntyre.
In addition, STATICCALL, an operative code with which developers can add restrictions and conditions for the execution of intelligent contracts, adding a new level of complexity related to the order of transactions in the block and other parameters.
The ETC virtual machine maintains compatibility with Ethereum and the other networks that use the ETH EVM.
As he said, the community has been extremely positive about the bifurcation of the network, "and most of the developers, miners, and operators of network nodes are accepting the changes as they have been proposed," he said.
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