The new blockchain that will appear at the beginning of 2019 is Ethereum Classic Vision, the ETCV ticker symbol. ETCV is one of the effective solutions to overcome the current blockchain crisis. As we know, the Ethereum platform is one of the most widely used crypto applications. But in the midst of developments, this platform is experiencing a severe crisis and there is no promising solution.
What role will Ethereum Classic Vision offer? Cryptocurrency is intended to bridge the gap between the hopes and realities of Ethereum supporters to maintain the ideals of decentralization. This Blockchain will combine technologies such as sharding, P2P, dApp and IPFS file storage.
ETCV will offer a stable reward for validator transactions through Proof-of-Stake (PoS). But previously it was rumored to be implementing the Proof of Work (PoW) system before actually switching to PoS. Some problems will be solved including scaling, mining inefficiency, and high data storage costs.
ETCV developers and supporters do not agree with the current direction of Ethereum (ETH). Where Ethereum leads to greater centralization and higher costs. While some supporters wish to maintain the spirit of genuine decentralization of Ethereum.
According to the developer, they plan to achieve a full transition to mining PoS. This validation is considered to be much faster than the current Ethereum network, also applies to sharding implementation. All smart contract owners will still pay once at the beginning of the installation. There is no storage or rental fee as recently announced by Vitalik Buterin for the Ethereum platform.
Developers plan integration with a decentralized IPFS storage system. Then built a built-in decentralized exchange system that turned Ethereum Classic Vision into a full-scale environment. Everything is built to develop and use new assets in the future.
The plan, ETCV will be launched after hardfork planned on January 11, 2019, 20:00 GMT. All ETH con holders will get 1: 3 ETCV, if you have 1 ETH, you will get 3 ETCV. Airdrop will not apply to wallet exchanges, so first move ETH assets to personal wallets. For example MetaMask, Jaxx, MyEtherWallet, Ledger Nano, and others.
More information about hardfork Ethereum can be found on the ETCV official website:
Hard fork Ethereum – Ethereum Classic Vision – 11.01.19
Whitepaper Ethereum Classic Vision
Ethereum Classic Vision
This article was written by Kaget, BitcoinTalk profile.
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