San Francisco-based Ethereum Classic (ETC) Labs has announced that the Ethereum Classic network would undergo a network upgrade, to boost the Ethereum Virtual Machine (EVM) capabilities.
The project said in a release today that the upgrade hard fork, Phoenix would take effect at block 10,500,839 and is scheduled to occur on June 3, 2020.
The upgrade would add several “opcodes” already functional on the Ethereum network to the ETC chain, thus ensuring that the Ethereum and Ethereum Classic networks are entirely compatible for the first time.
Commenting on the development, Terry Culver, CEO of ETC Labs said:
This upgrade demonstrates the robust development underway on Ethereum Classic, as it is the third hard fork in the last year, and reflects the strong community consensus among ETC stakeholders.
Culver further added that the Phoenix upgrade marks a critical “turning point” in the network’s history as the community will be better placed to drive better innovations, collaborate, as well as provide new tech contributions to the ETC and ETH communities.
The upgrade aligns with the ETC labs’ mission and values to boost transparency, collaboration, and allow for easy access to the ETC network, James Wo, founder and Chairman of ETC Labs said.
According to the announcement, the Phoenix upgrade had been implemented across the network’s TestNet, including Mordor and Kotti TestNet, with both updates occurring at block 999,983 and 2,200,013, simultaneously.
ETC Labs stated that the final upgrade is ready for mainnet activation and will be carried out by the ETC Core development team.
Notably, ETC Labs has urged users to upgrade their node software to a compatible version before the mainnet upgrade is implemented, to ensure a successful fork as scheduled next month.
ETC Labs is in charge of accelerating the development and adoption of the Ethereum Classic community through a series of innovative projects powered by the Ethereum Classic blockchain.
Since its inception, the lab has conducted remarkable initiatives to boost the performance of the ETC network.
Coinfomania reported recently that ETC Labs announced a partnership with Chainlink, to integrate Chainlink’s decentralized oracle network into Ethereum Classic.