a couple of very big announcements today from ethereum classic.
Firstly the announcement of a $250,000 investment from a major finance group in China…
And most important…“incubator” the platform launch application for ETC
I very much believe that Ethereum Classic is making far greater strides towards being a sound, long lasting cryptocurrency than Ethereum in it’s current state. Focus on strong monetary structure, decentralized development, and embracing the “code is law” side of immutability…these are all concepts Ethereum seems to have lost touch with, and will likely suffer for in the long run.
It is my humble opinion that Ethereum only continues to thrive as a top market cap coin for two reasons…
- First mover advantage in the Decentralized Application space
- The multitude of scammy ERC-20 ICOs propping up it’s use case
But…any inquiring mind should be asking, how long will these factors continue to give Ethereum relevancy…after all, the sheer number of decentralized application and smart contract protocols is steadily growing, and many of them could potentially bring much more tangible value to the table than Ethereum’s often disjointed development decisions. With more and more application protocols opening up ICO distribution contract platforms, it is likely that we will see Ethereum’s dominance in this area wane.
If you are unfamiliar with Ethereum classic, or what makes it different than regular old Ethereum, go back in time to the DAO “attack” and the resulting soft fork which occurred after the fact to rectify lost investors funds…it was this act that forever fractured the Ethereum development process from what many considered to be sound protocol implementation. I would encourage you to dig deeper into this history as it makes for quite an interesting bit of cryptocurrency trivia.