Ethereum Classic (ETC) and EOS are both up today but which one will stay solid? Both have gone through, or are going through changes, so now it’s time to see which change holds better – a mainnet launch or a blockchain fork?
Ethereum Classic (ETC)
Ethereum Classic (ETC) is currently selling for $15.12, which puts the coin up 0.27% in the past 24 hours.
Ethereum Classic’s price has been bouncing all over the place in the last 24 hours. Why? The same pattern’s been happening for the past week as well. The bouncing rabbit tracks of Ethereum Classic may have something to do with its blockchain fork.
Ethereum Classic recently completed a successful blockchain fork. The fork was aimed at diffusing the ‘difficulty bomb’ that had been set into the original Ethereum code. This bomb was a feature that was meant to make mining more difficult and would actually make Ethereum Classic mining unprofitable.
Ethereum (ETH) is moving to a proof-of-stake consensus algorithm. However, the members of the Ethereum Classic community believe that a proof-of-work consensus algorithm is better. While proof-of-stake may be more energy efficient, according to the Ethereum community, proof-of-work, argues members of Ethereum Classic, is a more decentralized way of achieving consensus.
Thus the fork. The fork was successful, reports CoinDesk, and will benefit the ETC community because it will help to reduce how long it takes to create a block. Already, block production times appear to be lowering:
We did it! 99% of the mining hashrate upgraded successfully.
Blocktimes getting faster; down from 22 seconds to 14 seconds.
Hashrate going up 5 TH/s -> 8 TH/s; making the network more secure. https://t.co/vYuyzgVQ10
— ETC Cooperative (@ETCCooperative) May 30, 2018
Which do you prefer? Proof-of-stake or proof-of-work?
EOS is currently selling for $12.00, which puts the coin up 0.63% in the past 24 hours.
On its road to its mainnet launch, EOS recently had a hiccup. A Chinese internet security firm, Qihoo 360, discovered a vulnerability in the EOS code that could lead to some pretty drastic takeovers by hackers if they too discovered it. Block.one has still yet to comment publically on the matter but Dan Larimer has reportedly patched the vulnerability now.
While he may have patched the vulnerability discovered by the Qihoo 360 team, his Twitter suggests that the EOS team is still looking for problems – just to make sure everything really is covered.
Help us find critical bugs in #EOSIO before our 1.0 release. $10K for every unique bug that can cause a crash, privilege escalation, or non-deterministic behavior in smart contracts. Offer subject to change, ID required, validity decided at the sole discretion of Block One.
— Daniel Larimer (@bytemaster7) May 28, 2018
We’ll soon find out if the EOS mainnet launch has to be delayed or not. Until we hear otherwise, though, all systems are a go!
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