The world of cryptocurrency never knows a dull moment, and it looks like there is now an Ethereum Classic project to compete with the main Ethereum branch of development. We have seen a similar trend in the Bitcoin world, where Bitcoin Core and Bitcoin Classic are at odds as well. By the look of things, some people have not taken kindly to the Ethereum hard fork.
Most people will automatically assume the Ethereum Classic project is just a joke, and should not be taken seriously. In most cases, they would be right to think so. However, there is an active Github repository explaining why this “new client” has been created.
As the name would suggests, the primary objective is to ensure Ethereum should remain censorship-resistant. The hard fork which the majority of the community voted for, is not something that sits well with everyone. The Ethereum Classic page even goes as far as stating:
“Ethereum Foundation responded to DAO debacle in the worst way possible. Special interests controlling the Foundation are ramming through DAO bailout hard fork against the principled opposition of a significant economic minority of Ethereum stakeholders.“
Ensuring survival of the original blockchain will be quite a difficult challenge, although the Ethereum Classic team seems confident they can pull it off. Bailing out The DAO and its creators is not necessarily the best plan of action. A hard fork of the source code sets dangerous precedents for the future.
For now, it is doubtful this project will gain any success, assuming it should be taken seriously in the first place. It is good to see people getting vocal about their disagreement with the hard fork decision, though. The coming weeks will be quite interesting, to say the least, depending on how much support Ethereum Classic can garner.
Image credit 1
If you liked this article follow us on Twitter @themerklenews and make sure to subscribe to our newsletter to receive the latest bitcoin and altcoin price analysis and the latest cryptocurrency news.
The tokenized equities sector is accelerating rapidly, and xStocks has now crossed a defining milestone:…
Coinbase-incubated Layer 2 network Base is entering a new phase of its development, moving toward…
Zora has officially launched its new “attention market” on the Solana blockchain, marking a bold…
The XRP Ledger has introduced a new on-chain trading framework that signals a notable shift…
A new milestone in the evolution of crypto investment products is set to unfold as…
A major milestone is unfolding in the blockchain economy as Polygon records a historic “flippening”…
