Categories: Altcoins

ETC Labs Introduces Dedicated Team to Focus on Core Ethereum Classic Projects

Click here to view original web page at cointelegraph.com

Ethereum Classic Labs incubator has launched a new Ethereum Classic (ETC) development team ETC Labs Core. The company has unveiled this in a blog post published Jan. 14.

According to the announcement, the new team will be working on core ETC projects, supporting the coin’s blockchain and providing tools for decentralized application development, mining, and services.

In the first quarter of 2019 the team will purportedly focus on reviewing Ethereum’s (ETH) Constantinople hard fork, which is set to happen around Jan. 16. This will be done prior to finalizing the Ethereum Classic Improvement Proposal 1045, which will introduce support for some parts of Ethereum’s Byzantium and Constantinople upgrades on the ETC network.

During the rest of the year, the team is set to work on related issues such as chain monitoring and analysis tooling in the wake of the 51 percent attack on ETC that took place this January.

As Cointelegraph previously reported, cryptocurrency exchange Coinbase detected an ETC blockchain reorganization on Saturday, Jan. 5, and indicated that it was a 51 percent attack involving over $1.1 million worth of crypto.

ETC developers first denied the reports about the attack, stating that double spending did not take place on the network. However, they did ask all exchanges and mining pools to significantly increase confirmation times on all withdrawals and deposits.

In early December 2018, the founder of one of the leading ETC development teams ETCDEV, Igor Artamonov announced that the team cannot continue working and has to shut down its activities, partially due to the crypto market crash “combined with a cash crunch in the company.”

ETC is currently trading at around $4.37, up by 2.57 percent over the last 24 hours, according CoinMarketCap. The altcoin’s market capitalization is around $469 million, making it the 18th largest cryptocurrency as of press time.

cinerama

Illuminati, Mason, Anonymous I'll never tell. I can tell you this, global power is shifting and those who have the new intelligence are working to acquire this new force. You matter naught except to yourself, therefore prepare for the least expected and make your place in the new world order.

Disqus Comments Loading...
Share
Published by
cinerama

Recent Posts

Bitcoin Is Up Against An Extremely Important And Powerful Resistance Zone On The Monthly Chart: The Kijun-Sen (Base Line)

We can identify the price action causes of why price is finding it difficult to move higher by analyzing longer… Read More

5 hours ago

BTC ATM goes missing and no one notices

When you think of thieves stealing an ATM, the mind jumps to the idea of an exciting crime. Maybe there’s… Read More

5 hours ago

Major Swedish Bank Orders Negative Interest Rate on Euro Deposits

Sub-zero interest rates have become the norm in some countries, especially in Europe. Nordic nations such as Sweden and Denmark… Read More

5 hours ago

Researchers Concur Current Bitcoin Market Cycle is Only Just Beginning

Bitcoin price cycles can be influenced by a number of factors, FOMO and public sentiment is one, and mining profitability… Read More

5 hours ago

Hopes for Bitcoin as China’s Renminbi Drops to 11-Year Low

A recent plunge in the bitcoin price is looking to negate some of its losses as China’s currency weakens to… Read More

5 hours ago

Why Bitcoin Rules in the ‘Insane’ World of Negative Interest Rates

Central banks around the world are on a negative rate binge to further a compelling case for bitcoin.. | Source:… Read More

5 hours ago

This website uses cookies. We use these cookies to collect data about your interaction with our website for the purpose of continuously improving your experience with our site. For more information we encourage you to read our privacy policy.

Read More