Ethereum Classic Magneto Upgrade Announcement
Ethereum Classic is in the news today after they announced the Magneto network upgrade.
The upgrade dubbed Magneto will take place at block 13,189,133 and will implement ECIP-1103. It will also include #Ethereum Berlin upgrade features, as per the announcement.
To ensure a successful fork, they asked #ETC consumers to upgrade their node software to a Magneto compatible version if they have not done so already. If they are not operating nodes or services, but use #ETC through other services, then check with that service to ensure they’re supporting the Magneto hard fork.
What is Ethereum Classic?
Ethereum Classic is a decentralized computing platform that executes smart contracts. Applications are ran exactly as programmed without the possibility of censorship, downtime, or third-party interference.
What is Magneto?
Ethereum Classic is undergoing a network upgrade code-named Magneto, and specified in ECIP-1103. Magneto is inclusive of the #Ethereum Berlin upgrade which contains a series of EIPs optimizing gas and transactions which have implied security enhancements important for the network.