- The ETC Network has now selectively activated just sections of the London update.
- ETC dropped by nearly 15% on the 11th and 12th of February.
Compatibility is the primary goal of the current hard fork. With Mystique, Ethereum Classic’s network will be able to use some of Ethereum London’s most exciting new features. To begin with, ECIP 1104 was suggested as a hard fork. In the same way, the ETC Network has now selectively activated just sections or subsets of the London update.
Routine Protocol Upgrade
The highly-anticipated Ethereum Classic hard fork Mystique has finally gone live, weeks after it was announced amid considerable anticipation. At block 14,525,000, the ETC Cooperative said that “this is not a contentious hard-fork, just a routine protocol upgrade.”
Across the board, node readiness was just 35% at the end of last month. Total node readiness was measured at 65.4 percent at the time of this writing. In addition to EIP-3529 (Alternative fund reduction) and EIP-3541, Mystique contains (Reject new contracts starting with the 0xEF byte). The EIPs for Fee market modification, BASEFEE opcode, and difficulty bomb delay are omitted entirely. ETC’s set monetary policy no longer applies to the first two since they contradict it. Since then, everyone has wondered how the hard fork impacted ETC’s value.
Even while ETC’s price rose by about 5% in the hours leading up to the activation, it plummeted immediately after that, continuing the altcoin’s recent downward trend. On the price charts, ETC dropped by nearly 15% on the 11th and 12th of February. Although today it saw bullish momentum and is up by 5.49% in the last 24 hours. According to CoinMarketCap, the Ethereum Classic price today is $33.28 USD with a 24-hour trading volume of $677,461,012 USD.
