Name: Ethereum Classic - Decentralized, Immutable, Unstoppable Smart Contract Platform
Price Info: - https://coinmarketcap.com/currencies/ethereum-classic
Ethereum Classic is a decentralized platform that runs on smart contracts. It’s essentially like Ethereum, except that Ethereum Classic moved on with the original code out of the need to keep it immutable and untampered after the “DAOsaster” happened in 2016 when a hacker managed to steal more than 3.6M ether through an ICO which, at the time, was evaluated at $70M.
Ethereum Classic was born after this disaster and moved on with the original code, believing that Ethereum was attacking the core idea of decentralization by changing its code.
For ETC investors, code is law!
Ethereum Classic recently participated in the release of an A2A messaging system based on other platforms like Ethereum, Ubiq, Expanse and PIRL.
Ethereum Classic ﬁnished the year 2017 by releasing its Daedalus wallet - it’s new software, so use it for low-value transactions for now. the work on Ethereum Classic will accelerate in 2018. Lead developer Charles Hoskinson noted how over 2017, they grew the development team and now have eight full-time developers. And it will continue to grow over 2018.
On tap for 2018 is achieving Ethereum Classic scalability through the use of sidechains. (A sidechain is a separate blockchain attached to the parent blockchain.) the team will also be working with third-party developers to build apps on top of ETC. And the team plans to develop proof of concepts for how ETC will be used for the Internet of Things.
In a recent interview, Charles Hoskinson called 2018 the year Ethereum Classic diverges from Ethereum. For 2017, the team cleaned up after the fork, set a new monetary policy, and released a new Scala client.
New developments in 2018 - One is Sputnik VM, a virtual machine developed speciﬁcally for Ethereum Classic. (A virtual machine is like the road the code runs on.) they’re also working on the Emerald Wallet and software developer kit. Also on slate is implementing a treasury model. Per Charles, they’ve been studying Dash’s funding model. This is signiﬁcant, as a robust treasury model enables funding for things like new projects, protocol developments, and marketing.
Ethereum Classic wants to be the first blockchain to properly address the needs of Internet of Things (IoT) devices. The IoT is the connection via the internet of computing sensors embedded in everyday objects (including cars, home appliances, electronic devices, and even clothes).
Two important projects working on this problem are SputnikVM and Emerald Project.
Sputnik can run smart contracts anywhere, including browser and in embedded devices that you would need for IoT.
SAT-1, a space research and technology company, is using SputnikVM to develop a decentralized app that allows its satellites and ground stations to communicate and share data with each other.
Emerald Project will provide a common framework to build decentralized apps on top of the Ethereum Classic blockchain.
The Ethereum Classic Cooperative (ECC) will help fund the projects.
At the end of 2017, the ECC held just over $470,000. It plans to spend 50% of those funds on development, with the rest split evenly between marketing and the community.
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