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After the news broke up on Monday, the Ethereum Classic development team (ETC) ETCDEV was closed due to a lack of money to finance the operation, the community was quick to clarify that other teams are still at stake.
According to the official website of the Ethereum classic project, "ETCDEV is a leading Ethereum Classic development company with a strong focus on decentralized processing that provides long-term support for the ETC blockchain."
Igor Artamonov, founder and chief technical officer of ETCDEV wrote in the announcement that the team tried to secure investments to finance their operations, but that this effort was not successful. Artamonov also noted that the collapse of the market crash was one of the reasons why the group, composed of ten people, found itself in an increasingly difficult financial situation in recent weeks.
Unfortunately ETCDEV can not continue working in the current situation and must announce the arrest of our current activities pic.twitter.com/N6xWnpBNJJ
– ETCDEV (@etcdev) 3 December 2018
After the announcement, however, the verified Ethereum Classic Twitter account was quick to point out that it does not in any way mean that the ETC itself is closed. As the group said, Ethereum Classic is supported by other groups of developers.
Ethereum Classic is not ETCDEV
Ethereum Classic is IOHK, ETC Co-op, ETC Labs, ETCDEV and a litany of volunteers.
Keep calm and build. https://t.co/J4IYvC906j
– Ethereum Classic (@eth_classic) 3 December 2018
It also seems that the pains felt by ETCDEV on low encryption prices have not yet affected the other development groups working on Ethereum Classic. In November, ETC Cooperative (Artamanov is among the advisors of this group) announced that they are still hiring people for their operations. This time, the group is looking for a communications director based on their New York office. The group offers a "competitive salary range up to USD 110,000 depending on experience".
We are hiring! Https: //t.co/rzcjHE6UW1
– ETC Cooperative (@ETCCooperative) November 15, 2018
However, five job openings are also available on the ETCDEV website, including two developers.
At the moment, it is unclear how the closure of the main team will have an impact on the future of Ethereum Classic. If ETC intends to maintain its position as a significant digital asset in the future, it will now be up to the other development teams to support it to collect the ball and continue building on the platform.
Previous ETCDEV team plans for 2019:
• Scalability improvements and more interoperable sidechain Orbita (towards 1,000+ tx / sec)
• Light client for IoT and Mobile
• Interoperability with other blockchains
• Improves cryptography on EVM (for zero evidence of knowledge, homomorphic cryptography, etc.)
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Ethereum Classic, which is one of the top 20 cryptocurrencies of my market capitalization, received a boost in its price before being listed on Coinbase this summer, but has since undergone a prolonged sale along with the rest of the encrypted market. Tuesday morning ETC is down more than 6%, or more than most other best currencies.
ETC price table:
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