Altcoins News
By Maheen Hernandez
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Ethereum Classic (ETC) Working to Sustain Ecosystem
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A recently publication in etherplan states that Ethereum Classic (ETC) has suffered immense instability over the past 18 months, as it has been very easy to persistently…
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Ethereum Classic tweeted: “It's an unavoidable reality that @eth_classic has lost momentum in market share and hash-rate.
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Due to this vulnerability several improvement proposals have been proposed, but not all of the proposals provide for the guarantee of continuity of ETC’s principles and core…
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Despite, none of them from the ecosystem were able to come up with an alternative set of internal changes which will be able to solve the problems which the network is going…
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The current vulnerability is external in nature; however, if not addressed it might lead the Ethereum Classic blockchain to permanently lose liquidity and market share either in…
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The 3 important improvement proposals are: ECIP-1049 (Keccak256), ECIP-1098 (Treasury), and ECIP-1100 (MESS).
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The current protocol compact 2020, if the ETC ecosystem should agree is meant to arrive at some kind of consensus in the short-term to help solve the urgent problems faced by the…
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Trend is to consider approving all three ECIPs with time limits for the Treasury and MESS, to ensure that the system eventually falls back automatically to its original design.
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Sydney Ifergan, the crypto expert tweeted: “Sometimes it becomes important to give up in a bit of long held values to contribute to security.
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If the reorganizations are not addressed, the network will eventually lose on its liquidity. This will obviously interfere with the future development.
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Though the ECIP-1098 and ECIP-1100 are not in alignment with the Nakamoto consensus blockchain principles, there seems to be no other way than to arrive at some kind of consensus…
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The risk foreseen is that the treasury in ECIP-1098 provides for the risks that the developer teams will count with revenues to fund their projects.
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