Oracle, Intel and others sue to stop #Ethereum fork

By Alex WroblewskiPublished Aug 02, 2017 07:57:55Software giant Oracle and the software industry’s largest player, Intel, are joining forces to try to block a proposed Ethereum fork, arguing the block size increase would hurt their companies.

The tech companies have joined forces in a lawsuit that seeks to stop the ETC hard fork, which would remove the block limit from Ethereum, the Ethereum blockchain that underpins the cryptocurrency.

Oracle has threatened to pull all of its software and services from the Ethereum blockchain if it blocks the fork, while the software companies have vowed to maintain full service for ETC.

Oracle, a technology powerhouse that includes the world’s biggest software company Oracle, is the biggest player in the technology world, with $2.5 trillion in annual revenue.

In a statement to Business Insider, Oracle said that the block increase will lead to “economic uncertainty, higher transaction costs and more disruptions to the blockchain ecosystem.”

Oracle says the block increases will result in “economic harm to our business and its customers, including our customers’ employees, suppliers, vendors, customers, and partners.”

The company says the fork will increase the network latency, make it harder for people to connect to each other, increase transaction costs for people who are not on the Ethereum network, and limit the growth of Ethereum’s network.

The company argues that the fork is a direct threat to its business.

Oracle said that by introducing a block increase, the block will have a “substantial negative impact on the economy” and will make it “harder for users to access and transact on the ERC20 standard.”

Oracle said the fork “would result in significant economic harm to the Ethereum ecosystem, including: increased transaction costs; a decrease in users’ confidence in the ability to transact on Ethereum; and lower adoption of Ethereum-based applications and services.”

The hard fork will take place in October and Ethereum will continue to support ETC as a payment network until at least January 2021.

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