Ethereum Classic (ETC) To Undergo Magneto Hard-fork around July 21st

Ethereum Classic (ETC) To Undergo Magneto Hard-fork around July 21st 2
  • Ethereum Classic’s Magneto Hard-fork will happen at block 13,189,133
  • The Ethereum Classic upgrade is estimated to occur on July 21st
  • ETC’s Magneto upgrade will implement ECIP1103 alongside Ethereum’s Berlin upgrade components

The Ethereum Classic (ETC) Network will undergo a network upgrade around the 21st of July. The upgrade, dubbed Magneto, will happen at block 13,189,133 which is estimated to occur at the aforementioned date.

Ethereum Classic Magento Upgrade to Include Ethereum’s Berlin Upgrade

According to the official announcement by the team at Ethereum Classic, the Magneto Upgrade will include ECIP-1103 alongside Ethereum’s Berlin upgrade.

The latter upgrade was launched on the Ethereum mainnet back in late April and constituted several Ethereum Improvement Proposals that optimized gas fees and implemented security enhancements on the network. The four EIPs implemented during the Berlin upgrade were as follows, and will now feature on Ethereum Classic.

  • EIP 2565 – which lowers the cost of the  ModExp (0x00..05) precompile
  • EIP 2929 – which increases gas cost for SLOAD, *CALL, BALANCE, EXT* and SELFEDESTRUCT when used for the first time in a transaction
  • EIP 2718 – which introduces a new transaction type that is an envelope to enable easier support for multiple transaction types
  • EIP 2930 – which adds a transaction type that contains an access list, a list of addresses and storage keys the transaction plans to access

Consequently, ECIP 1103 will pave the way for all the above Ethereum protocol upgrades to now be added onto the Ethereum Classic (ETC) mainnet. ECIP 1103 will also ensure maximum compatibility across the two networks.

The team at Ethereum classic has thus proposed the following blocks at which these changes will be implemented in both the testnet and mainnet versions of the network.

  • Block 3,985,893 on Mordor Classic PoW-testnet, with an estimated date of June 2nd, 2021
  • Block 4,368,634 on Kotti Classic PoA-testnet, with an estimated date of June 9th, 2021
  • Block 13,189,133 on Ethereum Classic PoW-mainnet, with an estimated date  of July 21st, 2021