{"id":1643,"date":"2018-02-27T05:19:02","date_gmt":"2018-02-27T05:19:02","guid":{"rendered":"https:\/\/atozcrypto.org\/?p=1643"},"modified":"2018-02-27T05:19:02","modified_gmt":"2018-02-27T05:19:02","slug":"an-ethereum-classic-fork-snapshot-is-coming-next-week","status":"publish","type":"post","link":"https:\/\/atozcrypto.org\/an-ethereum-classic-fork-snapshot-is-coming-next-week\/","title":{"rendered":"An Ethereum Classic Fork Snapshot Is Coming Next Week"},"content":{"rendered":"
Next week the ethereum classic (ETC) community is expecting to receive coins from a \u2018snapshot\u2019 fork called \u2018callisto\u2019 (CLO). The clone will be an exact copy of the ETC chain up until block 5,500,000 and ETC holders will receive a 1:1 ratio of CLO coins.<\/b><\/p>\nThe First High Profile Hard Fork Is About to Get Forked<\/h2>\n
<\/p>\n
The funny thing about\u00a0ethereum classic<\/a>\u00a0is that it was one of the first high profile blockchain splits and ethereum (ETH) holders received a 1:1 ratio of ETC after the hard fork at block 1,920,000. The fork was caused by members of the Ethereum community because they rejected the idea to \u2018bail out\u2019 the\u00a0DAO<\/a>, an ETH applicat<\/p>\n ion that lost $150Mn that year. Some individuals firmly believe that ETC is the \u2018one true\u2019 Ethereum network. Callisto, however, is not quite like the ETC hard fork as it\u2019s a snapshot much like bitcoin gold, bitcoin d<\/p>\n iamond, and the other clones that appeared over the past year.<\/p>\n Essentially CLO coins will share the same history as the existing ETC chain but from block 5,500,000 and forward the network will be its own. The cloning is expected to happen next week sometime on or after March 2. The reason behind the snapshot is because CLO developers believe there are issues regarding ETC\u2019s smart contract design. According to the CLO white paper ETC is susceptible to smart contract hacks much like the DAO platform. The CLO developers plan to create a \u201cOfficial Smart-contract Auditing Department of CLO & ETC,\u201d so one could assume the snapshot may be considered an extension of the ETC community.<\/p>\n \u201cThe main goal of callisto is to research and develop a reference implementation of self-sustaining, self-governed, self-funded blockchain ecosystem and development environment,\u201d explains the\u00a0CLO white paper<\/a>.<\/p>\n “Callisto aims to establish a secure and contribution-friendly environment for further protocol development and improvements. It will rely on a built-in system of smart-contracts to achieve this goal.”<\/i><\/b><\/p>\nCallisto Developers Believe CLO Will Have Better Smart Contract Security<\/h2>\n