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A new group of developers has officially announced their participation in the development of the Ethereum Classic (ETC) blockchain.
Known as ETC Labs Core, the team of six developers, many of whom had previously been in ETCDev, will provide key technical skills for the blockchain and will continue to develop the dApp ecosystem of the network. An official blog post stated that the team was committed to the same principles and core values as Ethereum Classic.
"The team will focus on the core projects of Ethereum Classic, supporting the ETC blockchain, providing tooling for the development of decentralized applications, mining and services", ETC Labs Core said in an announcement. "In the pursuit of our mission, we evaluate the immutability of the state, decentralization and backward compatibility".
Few blockchains have centralized authority and there is no single body that directs expansion into the Ethereum Classic. The development of the blockchain, both from the technical point of view and from the community, is shared between separate private companies.
It is a pleasure to formally announce ETC Labs Core. We are pleased to announce our project plan to the community too! #ETC $ ETC #EthereumClassic #Ethereum #Blockchain #Cryptocurrency #DApps #Decentralized https://t.co/GzBk1zvWSy
– ETC Labs Core (@etclabscore) January 14, 2019
ETC Labs Core
Until the beginning of December, there were four of these teams. ETC Labs Cooperatives and ETC Labs – of which ETC Labs Core is a subsidiary – have promoted the development of dApp and community through investments and technical support; ETC Dev and IOHK acted as two core development bodies for the blockchain itself.
But on December 3, ETC Dev closed its doors; the company had run out of money. The dissolution was all but harmonious. The head of ETC Dev said that ETC Labs had carried out a hostile takeover, hitting staff members and holding back the funds needed to force the company. This was, without any surprises, challenged by ETC Labs, which claimed to have had a very limited involvement in the management of ETC Dev.
2018 was generally a very successful year for Ethereum Classic. A list of Surprise Coinbases in June brought the much needed attention to the blockchain and drew the developers to start building on its platform. Anthony Lusardi, director of the ETC cooperative, said the project is heard "Avenged".
But the closure of ETC Dev was just the beginning of a series of problems. Just last week the project was the subject of a "re-org", an attempt to quickly rewrite the blockchain and to spend the money in duplicate; Coinbase trading suspended. As evidenced by the decline in value, investors have begun to leave.
The creation of a new core development team will help restore the confidence lost in recent months. With that said, there is still a lot of work to do on Ethereum Classic.
The author is invested in digital resources, including BTC mentioned in this article.
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