Fans of Ethereum ecological community
a brief history of etheric Classics (etc)
etheric classics began with an unfortunate event
in May 2016, the decentralized autonomous organization (DAO) held a token sale with the goal of establishing a blockchain based venture capital to fund future decentralized applications (dapps) in the Ethereum ecosystem
basically, Dao is a complex smart contract that operates in a decentralized way - computer code that automatically performs tasks between multiple parties when conditions are met
despite its ambitious goals and successful token sales, Dao's code has a major vulnerability that allows attackers to steal eth from decentralized organizations
the attacker took advantage of this vulnerability in June 2016, triggering the infamous Dao hacking event, and maliciously stole eth worth about US $50 million
there is no doubt that Dao hacking has shocked Ethereum community and made eth price drop from $20 to $13
after the Dao hacking, the Ethereum community has to choose from three options
< UL >do nothing and try to bear the consequences of the attack; Or
start soft bifurcation to recover funds; Or
deploy a hard fork to recover the lost eth
both soft and hard bifurcations are significant network upgrades. However, soft fork allows users who are not upgraded to communicate with upgraded users, while hard fork is not backward compatible with previous versions
as developers realize that deploying soft forks will expose the network to distributed denial of service (DDoS) attacks, Ethereum community decides to initiate hard forks to recover the funds lost in Dao hacking attacks
although this scheme is supported by most people, a small number of people in Ethereum community oppose it. They think that "code is the law" and blockchain network should be unchangeable
the failure of both sides to reach an agreement on the solution eventually led to the fragmentation of Ethereum blockchain
those who tried to recover the lost eth chose the hard fork and opened the Ethereum (ETH) blockchain as we know it today, while another group stayed on the original Ethereum classic (etc) chain
what problems does ethereal classic solve Ethernet classic (etc) is a blockchain platform that allows developers to deploy smart contracts and dapps although this function is the same as Ethereum (ETH), etc blockchain has two main differences first of all, Ethereum classic community opposes tampering with distributed ledger and supports the view that "blockchain network cannot and should not be modified" secondly, although there is no rigid upper limit on the total supply of eth, it is allowed to create 230 million etc at most by adopting the monetary policy of constant supply as a bonus item, ethereal classic launched Atlantis hard bifurcation last year to increase the interaction with Ethereum and improve the privacy protection of transactions through ZK snarks the trading platforms recommended by etc hot money, okex, AAX, etc
etc (Ethereum Classic) is a bifurcated currency that Ethereum hard bifurcates after 1920000 blocks, and its function is very similar to Ethereum. Etc adheres to the concept of decentralization and supports the consensus mechanism of blockchain guarantee. Etc firmly believes that once the blockchain starts to run, its development direction will not be controlled by any central team, but will be determined by the consensus of the people participating in the whole network and the consensus of the computing power of the whole network
the Ethereum blockchain hard branching in July 2016 aims to transfer the Dao funds stolen by hackers to an account controlled by investors, and let the old transaction records be forgotten by history. Most Ethereum developers are involved in the reversal, as are exchanges, startups and other members of the ecosystem. A few days later, the project returned to normal. But not everyone wants to forget the old record. As a result, a small number of miners continued to use the original blockchain as a protest. They described the hard fork as a capital withdrawal for the abandoned project of the Dao. So Ethereum classic (etc) was born
2. Detailed parameters
Chinese Name: Ethereum classic English Name: Ethereum classic English abbreviation: etc
developer: Ethereum Classic team core algorithm: ethash consensus proof: POW
release date: 2016 / 7 / 20 block time: About 15-17 seconds / block
total currency: fixed at 210 million, up to 230 million, Every 5 million blocks decelerate by 20%, and the first proction rection is expected to be in December 2017
main features: independent cryptocurrency
Ethereum Community Foundation (ECF) is a non-profit organization. Its original idea was to give community projects a bonus to support incubation of early projects and research. Then in 2018, omisego, Golem, status, maker, Web3 (Polkadot), cosmos and ef (Ethereum Fund) were set up in Tokyo as consultants
ECF 2.0 is the upgrade of ECF, which has two core goals:
< UL >
coordinate community relations through various harmonious ways, such as bonus, strategic and business support, and community activities
in order to become an open capital network, ECF emphasizes its initial vision, which is to form a network with various funds to realize the support and contribution to the community
In addition, ECF 2.0 upgrade will not only support non-profit infrastructure projects, ecation programs, instrial community activities, but also support application and tool development, and even commercial projectsEthernet classic has an application that runs completely according to the program, with no failure, no review, no fraud and no interference from third parties. Ethereum classic is the continuation of the original Ethereum blockchain, which retains the history of the classic version without modification; Free from external interference and subjective tampering transactions
etc fans is a new trend to promote the research cooperation between ethereal classic and blockchain instry ecology, and promote the development of ethereal classic ecology.
1: Decentralization -- not regulated by indivials, enterprises and the state. It will not be supervised by any country, institution, organization, enterprise or indivial, and will not be frozen
2: limited issue, the real virtual currency is to measure the issue, the issue will not be more or less, the total issue of bitcoin is 21 million, the mining time is 100 years
3: it can be freely traded on the international trading platform, in other words, only the virtual currency that can be traded on the international trading platform is real
4: there is a mining pool website, open source code, the real virtual currency is open source code, is g out, can freely mine, many players have been engaged in this kind of "miner" occupation
5: have your own E-wallet. All real virtual currencies have their own e-wallets. The computer version of offline wallets is programmed without any plug-in links
as far as I know, markcoin has not disclosed its own open source code, nor can it be traded and exchanged on the national virtual currency trading platform.
for details, please ask the people's Bank of China and the banking regulatory bureau
run, brother,
good luck.