Ethereum Classic (ETC) gets 25 minutes of ECTS proposal 51% solutions and Q&A from IOHK

By August 16, 2020DApps
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The ETC Treasury Discussion conference call had stakeholders, contributors, service providers, dapp developers, core developers, and non-core developers were all invited well in advance to participate and to ask questions. They were also encouraged to provide feedback about the ETC Treasury Proposal which was given by IOG (formerly IOHK), which have been widely discussed among the people in ETCLand, and has been around for nearly 4 years.

Ethereum Classic tweeted: “Listen to yesterday’s ETC community discussion as @IOHK_Charles of @InputOutputHK was given the floor for 25 min to explain their ECTS proposal, 51% solutions, and Q&A. Every question was answered in a clear, concise, & simple manner. Looks like the majority favor the proposal!”

ETC Cooperative in their You Tube Channel published that the goal of this meeting was simply to hear out IOG and for IOG to provide further clarity for the developers, contributors, volunteers, service providers, stakeholders, etc. about the ECTS proposal.

The IOG’s proposed solutions addressed the immediate 51% attack issues. The discussions have been edited and it is available for listening for all.

In the event, Charles has provided clarity about the short term solutions like check pointing. He has answered every question about Mantis, check pointing, and the treasury system and on how it should be set up.

Charles has also shared information about several other potential solutions and innovations which IOG have planned for ETC to make it attractive for the developers and consumers.

In this regard, Sydney Ifergan, the crypto expert tweeted: “Ethereum Classic (ETC) are well aware of their vulnerability and they are working on upgrading their security. We need to see how the development moves ahead.”

Ethereum Classic (ETC) Waiting Real Improvement

Several community members seem to agree with Charles 100%. There is a widespread acceptance of the fact that ETC needs a treasury if it’s going to compete with ETH.

Some have expressed that without funding, it’s likely to lose to DOGE; and that because likely there will be more folks which buy just because they love dog memes, than those that care about “Code is Law”. While that can be an exaggeration, the reality is that ETC is not underfunded.

Community members have to state that the ETC Coop organizes the ETC Summit and maintains among others Classic support in Besu and we have ETC Labs that has it’s entirely to Classic dedicated dev team ETC Core.

The ETC community are in a high alert mode. With damages they get better and very soon we expect to see some real improvement happening.

If you like the article, feel free to send a tip to our writers in ETC To : 0x6F047Ac7269C2888B2CB57D05A34A79Cf7a1D275 , or any other Cryptos via this link.

Thank You, The TCAT team.

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