Search Inside Bitcoins

OkeX Says It Will Support ETC Hard Fork

Don’t invest unless you’re prepared to lose all the money you invest. This is a high-risk investment and you should not expect to be protected if something goes wrong.

OKEX Review 2020: Platform, Features Pros and Cons
OKEX Review 2020: Platform, Features Pros and Cons

Join Our Telegram channel to stay up to date on breaking news coverage

OkeX has pledged its support for the scheduled Ethereum Classic’s (ETC) Atlantis hard fork. The crypto exchange platform made the announcement through a blog post on the 10th of September.

The hard fork is expected to occur between the 12th and the 13th of September, 2019. The network has to reach a block height of 8,772,000 for the hard fork to be executed.

OkeX informed its customers that during the course of the hard fork, they have to ensure that they have deposited their ETC in advance. ETC accounts belonging to the platform’s users will not be affected by the activity surrounding the hard fork.

Once the ETC mainnet has stabilized, users will be able to use the platform as usual and OkeX, one of the best crypto exchanges, will resume normal service.

Atlantis hark fork

The Atlantis hard fork has come about as a result of the need for a no rush update of the ETC network.

The update is meant to make the network more compatible with Ethereum. If the compatibility is achieved, ETC can easily assimilate with sibling blockchains and create more opportunities for collaborations among developers.

The update that will come through the hard fork will also bring improved functionality and stability to ETC.

According to statements describing the hard fork, Atlantis will improve interoperability between blockchains and provide off chain scaling protocols.

ETC Labs said that the community involved in the development of Atlantis has met and discussed all the issues around the hard fork. A decision was made regarding the direction Atlantis will take and the timing of the release.

All stakeholders and members of the community are aware of how it will proceed and they are ready to move forward with the hard fork.

The hard fork’s proposal makes note of the need to establish and maintain a relationship between Ethereum users.

This interoperability will benefit developers, and is vital for the stimulation of end user adoption of the Ethereum network and its various applications. All side chains that participate on Ethereum will benefit from the Atlantis hard fork and the tasks set out for it to achieve.

Security issues surrounding ETC

Atlantis will be hoping to solve the security issues that have plagued ETC. SlowMist, a Chinese blockchain security firm, warned ETC of a possible attack on the network back in January.

The alert was spread to ETC community members through Twitter and it raised concerns among these members. With this hard fork, there will be hope that the network’s security will be improved.

Join Our Telegram channel to stay up to date on breaking news coverage

Read next