The Ethereum Classic Difficulty Bomb has been eliminated successfully, this was claimed by the developers of the world’s 17th largest blockchain.
The Ethereum Classic was primarily designed to increase difficulties in mining its blockchain over a period of time. Moreover, the code featured in the first Ethereum codebase. This later was split into Ethereum and Ethereum Classic in 2016.
This successful upgrade of the network happened at block 5,900,000, according to project developers and network data available.
It is difficult to say exactly what the percentage of nodes updating their software is. This is due to a paucity of available tools, according to the project’s developers. It is also reported that most mining pools and exchange nodes updated their software well in advance of the fork. Moreover, no bugs or ill effects were reported immediately after the fork took place.
This upgrade, it is expected, will reduce the time taken to construct a block and will enhance both ideological and technical distances between the Ethereum blockchains and the Ethereum Classic.
It is also reported that the Ethereum community shall remain committed to transitioning to a system that is proof-of-stake-based. This decision has been taken because the proof-of-work system works best in resisting resists centralization among the various ways for achieving a consensus over block validation.
The decision is further supported by the fact that a proof-of-work system requires its miners or validators to keep investing in hardware, which also amounts to simultaneously investing in the blockchain. With lower taxes, this is all possible.
It may be recalled that deliberations and work on the fork began in 2016. Moreover, because of the extensive discussions held and research completed on the project, it was expected that there would be no controversies or complications.