Home Altcoins News Is Ethereum Classic (ETC) Community Facing Format Wars on Blockchain Protocol

Is Ethereum Classic (ETC) Community Facing Format Wars on Blockchain Protocol

ETC Community Facing Format Wars on Blockchain Protocol

Ethereum Classic expressed, as the future landscape evolves, the prevailing public blockchains and distributed ledgers will reorganize into L1 and L2—where highly secure, proof-of-work blockchains reside on L1, while high performance, proof-of-stake DLTs reside on L2.

Donald McIntyre, in the past stated that the numbers of tokens will narrow down to much less than what it currency is.  In the past he pointed to how the format war, layering and systemic risk will be the reason for the narrowing down.

He pointed to how the situation is a lot like the classic format wars, which is very common in cases of products and platforms with strong network effects.  The blockchain industry has already witnessed a similar example like the war between the PC operating systems and mobile operating systems.

It is very well known that only a few players in the market will be able to provide for major participation in the market and the rest will have only negligible participation.  This just means that in the future users of crypto will choose just those tokens which have a few winning standards which will work for most of them. Therefore, there will be no need for unlimited numbers of currencies.

Also, when it comes to layering they are organized in to specific organizational structures of layers to manage physical constraints and also to deal with user requirements.  Layering in computer systems and protocols based on OSI consist of host layers like application, presentation, session, transport and network.  Also there are media layers like Data Link and physical.  The layering methods will be reorganized with time to suit the standards followed by winning blockchains.

The trade-off between security and performance will always be offset by modifications in computing systems. The layers will get separated in to Layer one (L1) and those that are less secure like (L2).

Systemic risks like software risks, Sybil attacks, routing attacks, network partitions and delay attacks are a few to name among the many.

Thus it is not surprising to see someone say Nothing beats the Original ETC and others following suit with their comments like What you all got going behind the scenes, give us some details, market price and 51% price attack are the proof, the real recognizes the real, and lot of other comments like except for the non-chain that became the defacto #2 crypto. That beat the original by quite a lot.

Read more about:
Share on

dan saada

Dan hold a master of finance from the ISEG (France) , Dan is also a Fan of cryptocurrencies and mining. Send a tip to: 0x4C6D67705aF449f0C0102D4C7C693ad4A64926e9

Crypto newsletter

Get the latest Crypto & Blockchain News in your inbox.

By clicking Subscribe, you agree to our Privacy Policy.