What is the Ethereum Classic hard fork scheduled for May 30?

An Ethereum Classic hard fork is scheduled for May 30.

Previously, the current ETH Ethereum (second by market cap) is

the Ethereum Classic (around the 10th place by market cap) forked from,

and became New Ethereum.

To avoid confusion, here is a summary:

New Ethereum = ETH (Ethereum)

Old Ethereum = ETC (Ethereum Classic)

are the terms commonly used.

The previous fork was caused by the DAO hacking and theft incident.

Approximately 5 billion yen worth was stolen.

At that time, the organizers made ETH unusable.

This goes against the original concept of blockchain, which is to follow the agreed rules.

There was a rule that the rules could not be changed due to some sentiments, but

at that time, that itself was overturned, causing controversy.

Hence, it was decided to split into ETC and ETH.

This time, ETC will undergo a hard fork, but

the theme this time is to remove the difficulty bomb.

The difficulty bomb is an algorithm intended to make mining harder for miners.

ETH, what was the reason for making mining harder?

Because ETH plans to migrate from the current mining model.

About the differences in mining models

↓↓↓↓↓↓↓

ETH is currently POW (Proof of Work), but is planned to transition to POS (Proof of Stake) in the future.

On the other hand, ETC is POW and plans to continue POW in the future.

ETC, through this hard fork, aims to remove the difficulty bomb

to make mining easier and gain support from miners.