The IOHK Foundation, behind the development of the Cardano blockchain, presented last night a new client developed for the Ethereum Classic blockchain, which will be used to provide greater security and usability.
Welcome to the all-new Mantis. #Mantis is the only client written natively for Ethereum Classic, built from the ground up to offer unrivalled levels of assurance, security & usability #ETC @mantis_io @eth_classic @ETCCooperative pic.twitter.com/cqEbw1tsuU
— Input Output (@InputOutputHK) December 9, 2020
The new client takes the name Mantis and allows operating on the entire ETC network without affecting the principles on which this blockchain is based, such as the famous “code is law”.
This client solves the 51% attack problem. A fund has also been proposed to finance future developments of this blockchain.
It is interesting to note that this type of client was already developed in 2017, but it has been brought to the fore thanks to the recent negative episodes this blockchain has suffered and it is for these reasons that it has been integrated so as to be compatible with the network without leading to a fork.
The strong point of this client is to create checkpoints, allowing to mitigate the risk of 51% attacks, using the SCALA programming language.
An improvement has also been made on the smart contract side, considering that the K framework will be used, which makes it possible to predict the cost of gas for the relevant smart contracts with greater accuracy.
Cardano has saved Ethereum Classic
The CEO of IOHK, Charles Hoskinson, showed great commitment to this blockchain:
“Ethereum Classic has reached a philosophical crossroads – the level of hashrate, price depreciation and activity on the chain all indicate that ETC needs to take a new direction. As a result, we have decided, alongside others, to inject some more life into the ecosystem. If we can achieve that, not only will ETC thrive, but it will have the chance to fully realise the original ‘code is law’ philosophy, which will become more and more crucial as regulation increases and governments look to adopt digital currencies”.
Surely without the appropriate measures that this blockchain has now taken it would not have been easy to continue, and in the long run Ethereum Classic could have disappeared, especially because a series of repeated attacks make the structure unreliable for external users and developers.
This work by IOHK finally shows how cooperation between different blockchains is possible, seeing that in this case, Cardano has literally saved the Ethereum Classic blockchain from possible failure.