The upcoming hard fork of the Ethereum Classic network, Agharta, is scheduled to take place on 15 January 2020. The core developers, as well as stakeholders of the Ethereum Classic network, got together on 24 October and decided on the time and date of the fork, according to a recently released blog post.
The hard fork is said to host aspects of the Constantinople protocol of Ethereum, making it entirely compatible with Ethereum. Features that aren’t a part of Constantinople wouldn’t be a part of the hard fork. However, these features could be part of upgrades in the future.
The blog post published by Ethereum Classic Labs also revealed the schedule for Testnet and Mainnet. The estimated date for Morden Testnet is 13 November 2019 at block number 5_000_381, followed by the Mordor Testnet on 20 November 2019 at block number 301_243. The Kotti Testnet is expected to roll out on 11 December 2019 at block number 1_705_549. The Classic Mainnet would go live on 15 January 2020.
The block number for the mainnet or the Agharta hard fork hasn’t been revealed yet and will be announced by the end of next month.
Ethereum Classic recently executed its Atlantis hard fork which included about ten Ethereum Improvement Proposals [EIP], each of which was developed to enhance ETH compatibility. The Agharta hard fork would be the second half of the same.
According to the post, Agharta would consist of the following features: EIP 145 [Bitwise shifting instructions] which the EVM is currently lacking and EIP 1014 [Skinny CREATE2 opcode] which would be significant for “state-channel use cases that involve counterfactual interactions with contracts.”
The final feature will be EIP 1052 [EXTCODEHASH opcode]. The blog post expanded on the feature and said,
“A contract may want to check if another contract’s bytecode is one of a set of permitted implementations, or it may perform analyses on code and whitelist any contract with matching bytecode if the analysis passes.”
Litecoin’s ailing price prepares for breach of descending channel
Litecoin noted a sharp fall on 15 November, a fall that caused its price to fall from $59.97 to $55.63. This 7.24% fall was followed by the price of the coin climbing up. However, it fell soon after the rise. The price of Litecoin at the time of writing hovered at around $58.07 with a market cap of 3.75 billion, while noting a trading volume of $2.90 billion.
Despite the falling price, however, Litecoin noted the formation of a bullish pattern that might provide a boost to its price.
The hourly chart for Litecoin [LTC] saw a descending channel extending along with the falling price. The pattern, characterized by two sloping trend lines, marked the lower highs of LTC at $60.26, $59.16, and $59.03 and lower lows at $59.38, $58.94, and $58.53. As the price remained constricted within the downward trend, a breach in the pattern might lead to the price of LTC surging.
The 50-day moving average underwent a crossover with the 100-day moving average, indicating a bullish move. The 100-day moving average dominated the LTC market for over five days and the coin lost 4.08% of its value. However, with the 50-day MA leading the charge, an upward surge might be coming soon.
The MACD indicator noted strong bearish momentum in the market, as the MACD line remained dormant under the signal line. On the other hand, the Relative Strength Index highlighted a change in tides as the signal line bounced back from the oversold zone and was pointing up.
Litecoin’s falling price might find respite with a breach of the descending channel. However, the coin might undergo further devaluation before it could note a spike.