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Technology first, ETC or will be the next king

date: 2017-12-26
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July 20, 2016 To solve TheDAO's theft problem, Ethereum eventually implemented a hard-fork solution at the 1920000 block height divided into two chains, called the ETH chain and the ETH Classic chain, respectively ETH and ETC. Then came ETC chain and token ETC.

After the hard fork, ETC and ETH are on a completely different path, but the ETC still insists on being centralized, irreversible, free from third-party scrutiny, and sticking to the original set-up once the run can not be stopped. Therefore, compared with ETH, ETC is more decentralized and more cautious and safer in its development.

Monetary policy starts from safety

As we all know, ETC recently introduced production cuts. As a result, the ETC will cut production by 20% on December 12 and cut production by 20% in every 5 million blocks. This monetary policy will allow the total amount of ETC will gradually decline, eventually the total remained at 2.1-2.2 million, not more than 230 million. This new monetary policy will create an anti-inflation monetary model that will provide investors and developers with a solid foundation of value.

Essentially, the most important starting point for the new monetary policy of ETC is to maintain cybersecurity and be self-reliant. A suitable monetary policy will indirectly promote the development of the network and provide a secure platform needed for the development of all smart contracts. Large, high-risk, or high-value applications can be hard to come by without a secure network. When this network becomes very safe, it will attract many applications in this development.

Development team: Focus on technology than price

The day before the ETC monetary policy was implemented, the ETC community held a major discussion on the future development of ETC. There are many members of the ETC development team involved in this discussion.

When netizens raised questions about the price of ETC, its developers said: "The issue of price is not the focus of the development team, after all, our work is mainly about technology development." The ETCDEV team has been working hard in a very pragmatic and steady manner Promote the development of ETC. Rather slow development progress will not do some aggressive experiments to prevent future irreversible errors caused by the user's loss. At this point the development team is working hard to make ETC more stable, more flexible and more mature. A dedicated and mature team has laid a good foundation for the continuous improvement of the currency price.

Application Achievement ETC

For ETCs, the biggest difference from ETH is the application. However, ETC is also at a rapid pace in the continuous narrowing of the gap. ETC is a universal blockchain smart contract platform that can run a variety of potential applications, such as IoT applications. ETC is currently working on several new projects, such as replacing existing EVMs (Ethereum Virtual Machines) with SputnikVM for faster speeds and more compatibility with the Internet of Things; Emerald Project provides a platform for Dapp developers There are other tools to integrate external services into the ETC.

The potential applications of ETC are very broad and include most of the applications that require trust and contract in theory. Developing IoT applications on the ETC platform has unique advantages: stable and secure network, fixed cap, capacity expansion, privacy transaction, machine Pay and so on. The combination of IoT and ETC will push more applications to the ETC network.

ETC has been in the development process of its technology-based, devote themselves to the development of technology and applications. This is a very good thing for a technology-based digital currency. If a technology-based digital currency focuses on the market while ignoring the technology, its end result is only death. ETC attaches great importance to the development of technology, as it continues to develop into a decentralized and unchangeable public infrastructure, ETC will eventually be generous and become the next king.

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