Ethereum Classic Technology Coordinator Stevan Lohja has announced the upcoming Magneto hardfork, which includes four proposals for Ethereum 1.x (EIP).
These EIPs first appeared in the Berlin update for the live Ethereum network, which was activated in April. These offers are aimed at increasing the level of security and reducing commission costs by storing addresses and keys in the same place. Magneto is slated to launch in July, following the beta testing of the Ethereum Classic test networks – Morder and Kotti, which began on June 2 and 9, respectively.
Stevan Lohja, who interacts with the developers of the Mantis client for Ethereum Classic, recommended that users update their node software to a version compatible with Magneto. If users do not manage nodes or services, but use Ethereum Classic through third-party applications, they need to make sure that these applications support the Magneto update.
This is necessary for the successful activation of the hard fork. Lohja tweeted that the Ethereum Classic developers should innovate on Ethereum 1.x to avoid certain issues and facilitate the further development of the network.
Recall that at the end of last year, the ETC Labs development team began working on creating a “bridge” between the Ethereum Classic and Ethereum blockchains. It will allow DAI stablecoin swaps between these networks, which is used in many decentralized finance (DeFi) applications.
