When will Ethereum Classic erupt (Ethereum Classic 2021)?

When will Ethereum Classic erupt? When can mining officially begin? When can everyone know in advance about the forked coin of Ethereum Classic?

1. In January 2018, the Ethereum Classic team announced the issuance of a new token called “Beacon Chain”.

2. On March 14th, at the Ethereum core developers meeting, ConsenSys researcher Ben Edgington stated that there are currently about 500 validators (nodes) who need to upgrade to use the network. This means that once the hard fork is successful, more validators and block producers will join the network. Meanwhile, Danny Ryan, the project manager of EthCore, also believes that Ethereum Classic is likely to be accepted by the mainstream market now. What is Ethereum Classic?

3. “There will be many people buying this coin before the mainnet goes live.” Ethereum Classic is a concept in the Bitcoin whitepaper, which describes the idea of a peer-to-peer electronic cash system. However, when a system on a blockchain fails, it can lead to transaction failures or unnecessary costs. Therefore, to solve these problems, Ethereum Classic adopts a new consensus algorithm called PoW, which allows anyone to create their own digital assets. And as time goes on, its development speed is getting faster and faster.

4. “After the merge, there will be some small issues with Ethereum Classic.” He said, “Because I find myself unable to understand how to make a payment with Bitcoin for a transaction,” he added, “I believe that we will have a large number of new users pouring into this platform in the next year.” When will Ethereum Classic possibly go live? According to the official information released, Ethereum Classic is expected to launch its mainnet around mid-July 2020. “Breakthrough in shard technology” is expected to be fully implemented within this summer. The main advantage of Ethereum Classic is its ability to support large-scale applications.

5. Ethereum Classic roadmap for October:

1. Phase plan release;

2. Test network deployment;

3. Contract deployment and execution functionality;

4. Mainnet upgrade;

5. The public beta version will be launched in late September or early October this year.

Ethereum Classic 2021

According to Cointelegraph, Ethereum Classic (ETC) will launch its network at block height 124,000 on January 7, 2021. The node is currently running stable and plans to release a testnet version in early 2022. According to Etherscan’s data, in the third and fourth quarters of 2019, there were a total of approximately 100,000 transactions on the Ethereum Classic chain, most of which were smart contracts using the PoS mechanism.

ETC core developer Péter Szilágyi said, “This year we have seen exciting new developments: decentralized applications (DApps) based on proof of stake. This is the most important milestone for the ecosystem. It means that all these DApps will be supported.”