The latest progress of Ethernet [ETC] community: everything is ready, only under application

The latest progress of Ethernet [ETC] community: everything is ready, only under application

The separation of the etheric square block chain into two independent block chain, ETC (Ethernet Fang did not get the original chain) ethernet Fang fund, but it attracted some believe blockchain to the center, review, not anti tampering concept of supporters, and now China ETC supporters have become an important driving force for the global ETC community.


The birth of ETC review:

? April 30, 2016, Ethernet square project application TheDAO on the line for 28 days of global chips based on;

? May 28, 2016, the end of all the chips, get more than 11 million 500 thousand Ethernet dollars, equivalent to more than $150 million in value, to become the world’s largest in the history of the amount of the project to raise the public. On the same day, TheDAO began to open in the digital currency exchange transactions;

? June 17, 2016, hackers launched for TheDAO smart contracts more vulnerabilities, and the transfer of 36 million of the value of the currency of Ethernet to an anonymous address, almost all the chips TheDAO total 1150 Ethernet 1/3 dollars;

? June 30, 2016, Fang VitalikButerin proposed Ethernet founder hard bifurcation idea;

? July 15, 2016, hard concrete bifurcation plan announced the establishment of the coin contract;

In July 21, 2016, more than 85%? Is hard to support the etheric Fang hard bifurcation, bifurcation, the ETH (Ethernet and ETC (Ethernet Square Branch) Fang original chain) two independent block chain.

In September 3rd, ETC global Meetup ShangHai Railway Station, ETCC block chain alliance was formally established, aimed at promoting the core value chain: practice the block to the center, and can not review the anti tampering.


In September 19th, ETC launched the fund for sustainable development in China preparatory group in Shanghai held a closed meeting with Zou Laihui (ROY), Han Feng, Guo Hongcai, Li Dawei, Zhao Qianjie and other influential digital currency in community organizing committee members jointly signed the “ETCC Ethernet chain association” Fang, and released “the difficulty of ETC curse consensus” fallback scheme.

Why does ETC support?

Supporters of ETC from multiple sources. Support the power source from the initial block chain initially faithful to the characteristics of idealists. They believe that the irreversibility of the blockchain is designed and distributed to the center node is the core spirit of the chain block.

The other part of the ecological application developers to support ETC, and ETH such a foundation by Ethernet Fang too much influence the ecological contrast, follow the basic principles of ETC to the center of the open source community, application and development of a higher degree of freedom. Of course, speculators follow figure, ETC and ETH after bifurcation there is always a large spread, huge rise space is full of temptation to speculators.

In the ETC sustainable development plan to discuss ETC wildly beating gongs and drums up support within a week, ETH network has two large-scale attacks. Prior to the ETH program in 2017 March by POW (modified algorithm, proof of work mechanism into POS (equity) proof) mechanism, the community on the POW and POS disagreements. Dr. Xu Gang believes that the sky CEO bit:

“After the ETH into POS, and it is foreseeable, because there are a lot of the original miners, ETH will once again split into two chains. Once the ETH into two chains, ETC will once again highlight the value of. Another point to be stressed is that Chinese is no right to speak in the bitcoin and etheric Fang, and in the ETC community, China whether in development or application is still a dominant opportunity.”

ETC and ETH are not zero sum game

ETC and ETH are not zero sum game. After intensive discussions last week, the ETC community reached a consensus: ETC and ETH are in parallel rather than conflict.

The ETC core team members, community ETCC chain will promote the etheric Fang Secretary Roy said,

“The development of the ETC community and does not harm anyone, but to benefit the entire industry, it provides a very good test of products. We do not deny ETH, because both ETC and ETH are not the same location. ETH may not do the mass market, it is the enterprise and the industry market, can be seen as the alliance chain; public chain positioning of ETC is to block chain characteristic. I think both of them can develop. The whole industry is now the scale is still very small, we should not be the internal competition, but should think about how to put this technology to other industries to promote.”

Community Development: everything is ready, only under application

There is support from application development, resources, community foundation, ecological construction of the whole ETC is currently still very weak. The upper hand in a moral way at the same time, there is potential for development is really ETC?

House inquiry is one of the ETC developer community. He told reporters that he plans to rewrite the programming language, reduce barriers, let more interested developers can easily develop smart contracts. House consultation in Chicago in the United States YUANENGR website, has compiled the background of the theory of computer science. He said,

“The etheric Fang itself development tools, such as the solidity language has many functions including security vulnerabilities, the nature of the Mist; it is very difficult to install and setup. ETC in the development process there is a good chance to create a new compiler platform and application execution environment.”

In September 24th hosted by BTCC on the BTC and ETC exchange, ETC community core ElaineOu developers also published opinions about Ethernet Fang hard branch. Elaine is Dr. Stanford University, lecturer at University of Sydney, is the bitcoin enthusiasts and developers at the meeting, she is from ETC and BTC community with many fans to solve the current development of the best technology of digital currency.


Hard fork, Chinese bitcoin exchange, the first line of the ETC transaction, single day trading volume was more than 17 million ETC, and Chinese bitcoin also will be the first 50% directional ETC transaction fees in donations to the ETC developers, community organizations, the application of Dapp and ETC activities, in order to help the healthy development of the ETC community.

ETCC union said, accept donations will be used to pay the construction expenses, funded developers, translators and promotion staff. The good news is that the longest running BTCC will be on-line ETC pool.

At present, the ecological construction of ETC seems to be everything, except the application.

Headquartered in Shanghai, 91pool founder Chen Gang and Mei Wenxiang runs the ETC pool ranked second in the world, with more than 10% of the whole ETC network, there are mines in Sichuan and Shanghai.

They are currently preparing for a ETC ICO project, ETCWIN exchange. Perhaps this will become hard after bifurcation ETC (Ethernet Fang original chain) the first practical application. Chen Gang believes:

“The need to establish the ecological value from the bottom of ETC, expanding the use of ETC scene, stimulating the enthusiasm of the ETC community developers, to promote the birth of the practical application of intelligent block chain contracts.” They are full of confidence for the future development of ETC, now he said: “we want to do first”.

In the application direction, Dr. Xu Gang believes that ETC has the advantage in the direction of asset transactions,

“ETH is too ambitious, want to do all things, but not so good technology. ETC can focus on this direction, because asset transactions particularly afraid of hard things on the ETH bifurcation, and the bifurcation is inevitable.”

Angel investors, bitcoin miners and etheric Fang Da Guo Hongcai, had public statements that will launch a 51% attack on ETC. And now, he is a staunch supporter of the ETC. Recently, he was in the country community exchange activities to promote ETC. Released yesterday, twitter said, will invest 100 of the application of ETC in the next three years, publicly called business plan.

Although after the bifurcation ETC (Ethernet Fang primary chain) off a bit awkward, but the community parties are eager for a fight eager, can not predict the future trend of development, but the current state of ETC may be a good start.

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