The London arduous fork was a momentous occasion for Ethereum and hopefully, will probably be the identical for Ethereum Classic. The 5-year previous Ethereum arduous forked chain is readying up for its scheduled February 14 launch for ECIP – 1104
The “Mystique” Fork
Ethereum Basic Enchancment Protocol (ECIP) – 1104 was anticipated to carry a bunch of modifications to the mainnet because it supposedly follows the identical protocols of Ethereum’s London arduous fork.
Nevertheless, that will not be the case as of the 5 main Ethereum Enchancment Protocols (EIP) solely 2 are being included within the Mystique arduous fork.
The primary is EIP 3529 which specifies the choice refund discount wherein the fuel worth might be adjusted in order that they aren’t too excessive for folks to use the prevailing refund mechanism.
The second EIP to be applied is 3541 which determines that no future contract with the 0xEF prefix might be deployed on the Ethereum Basic chain. In doing so, an error message might be displayed witing ECIP 1104 as the explanation for the rejection.
The EIPs which were omitted embrace essentially the most controversial change to Ethereum, the EIP 1559 which launched the charge burn mechanism as properly the EIP 3228 which was accountable for the problem bomb delay.
As per the small print mentioned by Ethereum Basic, the charge burn mechanism will not be wanted on the ETC chain since its implementation would create battle with the prevailing financial coverage launched in ECIP 1017.
Moreover, since Ethereum Basic doesn’t intend on deploying the problem bomb ever on the chain, bringing a bomb delay can be ineffective.
As talked about within the latest replace, for the time being there may be simply 35% readiness for the Mystique fork. Often, nodes are noticed to be prepared by the point activation will get nearer and for a similar purpose earlier than February 13, 60% – 70% readiness is anticipated.
Ethereum’s Problem Bomb
Whereas Ethereum Basic will get ready for the primary fork of 2022, its dad or mum chain Ethereum is getting nearer to its rescheduled issue bomb.
Anticipated to be applied by June this yr, the problem bomb will formally shift Ethereum’s mining protocol from the proof of labor mannequin to proof of stake, lowering energy consumption by 99%.
Presently, the anticipated arduous fork hasn’t actually affected ETC or ETH’s worth motion in any important method as they each appear to be following the broader market’s cues and transferring sideways.