Ethereum Classic are focused on keeping the original censorship resistant Ethereum going. Ethereum Classic consists of a global network of users, developers, business operators, independent contributors, enthusiasts, and ETC Cooperative.
Ethereum Classic (ETC) tweeted: “#EthereumClassic’s role within this new initiative is to add support for #ETC as collateral, and to mint a stable coin on the Fantom platform – similar to DAI on Ethereum.”
Fantom (FTM) is a Directed Acyclic Graph (DAG) based smart-contract platform, which focuses on solving the scalability issues in distributed ledger technologies. This is done to bring the crypto-agnostic DeFi features in the Fantom Ecosystem.
The recent announcement implies that Fantom will leverage DeFi-Oriented public blockchain, which traverses from the Fantom and Cosmos (ATOM), XAR Network to mimic the Maker’s DeFi Platform.
Michael Chen, CMO Fantom Foundation stated, “We’re collaborating with ETC Labs to bring DeFi, including all aspects of our tech stack (e.g., stablecoins, lending, staking, asset issuance, collateralization, etc.) to the XAR ecosystem.”
The collaboration is a part of Ethereum Classic Labs’ mission to promote the “ETC is hard money” narrative.
Sydney Ifergan, the Crypto Expert tweeted: “Ethereum Classic strives to be a globally scalable payment network on the smart contract platform. The unique role of Ethereum Classic ETC is yet to evolve. Phoenix is the Hard Fork Upgrade. ”
A lot of expansion on the use cases are happening to facilitate an improved and alternative store of value.
Bob Summerwill has joined EntEthAlliance Technical Spec Working Group as Vice-Chair. Bob Summerwill’s proposal to serve as a Vice-Chair to EEA (Enterprise Ethereum Alliance) Technical Specification Working Group was confirmed.
Oracles are particularly useful when it is about integrating blockchain with the traditional payment systems, market data, and Internet of Things (IoT)-based data.
Ethereum Classic Integrates Oracles on their Network with ChainLink. The Decentralized Oracle provider Chainlink recently confirmed new integrations with Ethereum Classic and Polkadot in combination with several other DeFi projects.
An opinion about investing in cryptocurrency goes like, when the market crashes and businesses do not have money to continue development there will be only community-driven projects. The uprising of ETC is much anticipated.
While getting and managing cryptocurrency funds is an important challenge for institutions and investors, there is an increasing demand for crypto custody solution. Trustology from the Ethereum Classic Labs are providing storage solutions.
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