Ethereum Classic (ETC) – the blockchain platform that maintained the original spirit of the Ethereum (ETH) network – is about to undergo a major change in its system. On Tuesday, the team behind this digital currency is enacting a hard fork. They aren’t doing this hard fork, unlike a lot of other ones that have happened in the past, to create a new cryptocurrency. They are doing it for a very different reason – to make sure that their mining remains profitable.
Only 14,190 Blocks Left Until ECIP-1041 HardFork Update
Don't wait till last the minute – Please Update Nodes
Parity > v1.9.3
Geth > v5.0.0
— Ethereum Classic (@eth_classic) May 25, 2018
They are removing what is called a “difficulty bomb” – which isn’t being done on the ETH network. Ethereum Classic isn’t going to change to Proof-of-Stake (PoS), so at block 5,900,000 the difficulty bomb will be removed. If they don’t then mining will not be profitable in a few months from now.
So, when will block 5.9 million roll around? In two days – on May 29th.
You can read more about it on EthereumFAQ.
Disclaimer: This article should not be taken as, and is not intended to provide, investment advice. Please conduct your own thorough research before investing in any cryptocurrency.