U.S. Markets close in 4 hrs 34 mins

CORRECTING and REPLACING Atlantis Hard Fork Launch on Ethereum Classic Mainnet to Expand Functionality and Improve Compatibility With Ethereum

SAN FRANCISCO--(BUSINESS WIRE)--

Strong Ethereum Classic Community Unites to Meet Atlantis Hard Fork Deadline

In the first paragraph, first sentence, the block height number should read: #8,772,000 (instead of #8,343,000).

The corrected release reads:

ATLANTIS HARD FORK LAUNCH ON ETHEREUM CLASSIC MAINNET TO EXPAND FUNCTIONALITY AND IMPROVE COMPATIBILITY WITH ETHEREUM

Strong Ethereum Classic Community Unites to Meet Atlantis Hard Fork Deadline

The mainnet launch of the Atlantis hard fork, a major improvement to the Ethereum Classic (ETC) Blockchain that adopts Ethereum’s “Byzantium” protocol upgrade on ETC, is scheduled to launch at block height #8,772,000 on September 13, 2019 after months of community decisions and collaborative work to upgrade clients, nodes, miners and dApps for the hard fork.

Atlantis increases the functionality and stability of Ethereum Classic. ETC, established in 2016 and currently ranked 16th by coinmarket cap, has seen renewed development, growth, and adoption. Atlantis is the culmination of technical development and partnerships between ETC Labs, Chainsafe System, ETC Cooperative and other members of the community. This is the first of additional upgrades and enhancements underway on Ethereum Classic.

“Atlantis is an important moment. It delivers technical enhancements to the chain. It reflects the cohesion of the ETC community, and our shared commitment to continue innovating on one of the world’s major public blockchains,” stated Terry Culver, Ethereum Classic Labs’s CEO. “It also expresses the goal of ETC Labs to foster interoperability and greater collaboration with the Ethereum Community. We are pleased to be working closely with ETC Cooperative, Chainsafe, community members and numerous stakeholders.”

Atlantis is one of several projects being developed by ETC Labs Core in collaboration with the ETC community. It includes the Jade Suite of Tools, making it easier and faster to develop and configure dApps, along with OpenRPC that improves the dApp development experience.

“The Atlantis hard fork is a huge step forward for Ethereum Classic, bringing much greater compatibility and interoperability with Ethereum, and making it easier to move dApps between the chains,” stated Bob Summerwill, Ethereum Classic Cooperative’s Executive Director. “Coming to consensus across the stakeholders in a decentralized community like ETC is not easy, but we continued communicating, and we got it done. Everybody can be very proud of what we have achieved here.”

The Atlantis upgrade consists of 10 Ethereum Improvement Proposals (EIPs), including improvements to stability (EIP 100), Op-code upgrades (EIP 140, 211, and 214), precompiled contracts (EIP 198), precompiled contracts to improve zk-Snarks (EIP 196 and 197), performance related improvements (EIP 161 and 170) and enhanced security (EIP 658). Additional information about the improvements of the Atlantis ECIP 1054 hard fork is available here.

ETC Labs will continue to build tools and improve the core protocol to foster adoption, utilization and growth of Ethereum Classic. Ethereum Classic provides a proven and tested decentralized environment, community and technology. Its Proof of Work (PoW) provides reliable tested speed and security and offers low transaction fees.

About ETC Labs

Ethereum Classic Labs’ mission is to advance the development, utilization, and adoption of the Ethereum Classic community, core technology, and ecosystem through ETC Labs Core and ETC Labs Accelerate. Supported by a core development team to create development tools, interoperability functionality and technology resources, ETC Labs Core provides blockchain developers the resources necessary to build socially impactful, decentralized applications that are vital to the traditional community core values. ETC Labs Accelerate is dedicated to providing financial assistance and mentorship programs to advance the creation, growth, and proliferation of Ethereum Classic solutions.

View source version on businesswire.com: https://www.businesswire.com/news/home/20190905006043/en/