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Ethereum Classic (ETC) has suddenly seen a significant increase in development activity following the recent regime change. As unfortunate as it is to see ETC Dev leave the project, for long-term investors in Ethereum Classic (ETC) this could really be a blessing in disguise. Under the leadership of ETC Labs, we saw a plethora of new Dapps launched on the original Ethereum blockchain. It seems that the Ethereum Classic (ETC) teams have finally realized that investors are more concerned with the new intelligent Dapp than with the creation of a stable, safe and secure blockchain. Thus, when the teams reached their main goal of building a blockchain at the forefront, they decided to pursue what matters for the average investor.
It is unfortunate that they have had to push ETC Dev to pursue their goals, but it is likely that Igor Artamonov and his team would not allow such an aggressive program because they were more concerned about safety and security. Well, some in the community argue that perhaps they were too worried about such problems, and that's why ETC / USD & # 39; has lagged behind & # 39; while Ethereum (ETH) attracted a ton of Dapps and became the undisputed king of altcoins. Despite being a blockchain far superior to the Ethereum (ETH) in terms of immutability, decentralization and scalability, Ethereum Classic (ETC) remained in the dark while Ethereum (ETH) enjoyed the limelight. Perhaps Igor Artamonov and his team wanted to mark their self and cross their T before pursuing aggressive plans, but perhaps some in the community did not feel too good to be left behind.
Chart for ETC / BTC (1D)
The last few months have shown us that there is a lot of interest around Ethereum Classic (ETC) and its commitment to the Internet of Things (IOT). Powerful companies such as the Digital Currency Group, the Digital Finance Group and HCM-Foxconn Technology Group wanted to capitalize on this. However, Igor Artamonov announced last month that the planned IOT compatibility by November 30 had already been rescheduled. This irritated a lot of people in the community who were not only disappointed by this announcement, but they were even more disappointed to find out that this plan had already been rescheduled at the start of the year, but they are hearing about it Now. Soon after, we saw ETC Dev close the store and the rest is history.
As ETC Dev left the scene, we saw an aggressive ETC Labs program to get more Dapps on board. I can not help saying that this reminds me of the dawn of Ripple Labs. If you think about it from a moral or ideological point of view, it means giving more power to a particular group to control the future direction of the development of Ethereum Classic (ETC). This could lead to compromises along the way and values such as decentralization and fair government will be affected. However, if one considers this from an investment point of view, it means that a small, powerful group gets most of the decisions, which means less friction and more progress. Considering the way things are headed under the guidance of ETC Labs, I would first not be surprised to see Ethereum Classic (ETC) as the fourth or fifth largest currency by market capitalization in the near future.
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