Ethereum Classic will soon announce Magneto upgrades; Are you ready to react

Ethereum Classic is in the news today, having announced the next network scheduled for July 21.
Magneto's improvements will begin on block 13,189,133 and will include the implementation of ECIP-110.
In addition, as per the announcement, this would disable the Ethereum Berlin scaling feature.


ECIP-1103 will enable the implementation of all of the protocol's requirements, which are a result of the Berlin conference, which began in April.
This protocol covers a wide range of EIPs for optimizing gas and transaction efficiency, all of which are related to network security.
The implementation of ECIP-110 will provide maximum compatibility between two networks.


Changes should be applied to the Mordor Classic PoW testnet on June 2 and the Kotti Classic PoA testnet on June 9, as shared by the ETC team. To ensure a successful fork, we require ETC customers to increase their software node and to upgrade their clients to a Magneto-compatible version if they have not yet done so. If you are not operating a node or a service but are using ETC through another service, contact that service to ensure that they are using the hard fork Magneto.

While the team is still implementing blockchain, ETC has emerged as the year's most valuable token. The digital asset is returning 850 percent year over year and hitting an all-time high of $184 recently as of press time. The growth of ETC confused many chartists who expect the price to hit half of ATH by the end of the year. However, before the correction finally set, the ETC market managed to appreciate on the back of Ethereum and Bitcoin volatility.

Furthermore, Donald McIntyre of Etherplan has stated that it is possible that it will continue to benefit from the volatility of the ETH and BTC markets. According to Bloomberg, the price of Bitcoin will reach $125,693 by the end of the year, while the price of Ethereum will rise by 5%. In this case, ETC will be measured between $900 and $1,000.

The increase scheduled for July could help the crypto price and possibly bring it closer to McIntyre's forecast, with the crypto asset slipping nearly 70% from its all-time high on the back of the correction.

 

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