After the TheDAO hack case in June 2016 – where 3.6 million ethers (!) Had been diverted – the Ethereum network had split into two camps: a majority camp that wanted to proceed with some kind of ” “TheDAO hack” and act as if nothing had happened, and another minority camp that did not want to change the immutability of the original blockchain Ethereum.
From this 2nd camp, was born Ethereum Classic , refusing the way of the majority having chosen to cancel the event TheDAO by “forking” the blockchain to create a new network that we call today Ethereum Classic (ETC).
It was our colleagues from Bitsonline who got an interview with Anthony Lusardi, the Director of the ETC Cooperative, and his colleague Darcy – also from the cooperative – and we will present a few excerpts here.
Robert DeVoe, from Bitsonline: First of all, (…) could you give me a general update on how things have progressed this year?
Rober D.: A major change occurs for Ethereum Classic with the upcoming removal of the “difficulty bomb”. Could you tell us a little more about this process (…)?Anthony Lusardi, Cooperative ETC: Everything is fine, there are a lot of people working on ETC (…) we launched a redesigned website, we worked on interesting projects with the Ethereum Foundation (PeaceRelay) ( …).
Darcy: The difficulty bomb was included to force the Ethereum network to adopt the PoS [Proof-of-Stake] (…) ETC had first paused it, now we want to remove it for good.
Rober D.: A major novelty that will happen on Ethereum Classic this year, according to the roadmap, includes a technology called sidechain. Could you tell us a little more about the sidechains and how Ethereum Classic intends to use them?
Darcy: Sidechains are essentially private blockchains for developers and third-party companies who want to put their applications in blockchain mode, while respecting more affordable rules and consensus mechanisms like the Proof-of-Authority (PoA) (…) We want to evolve ETC by giving companies their own channel with the flexibility to support things such as mutability for GDPR compliance and the things companies need.
Rober D.: On the subject of the roadmap, she also mentions the next VM Sputnik. What are the main functions of this VM [Virtual Machine], (…) will it offer significant benefits or upgrades compared to what Ethereum or other similar blockchain projects have to offer?
Darcy: This is a new implementation of the EVM written in Rust, a purely technical change for the moment, but it is designed to be optimized for low power mobile devices in the future (IoT) [Internet of Things].
Anthony: The simplified explanation is that SputnikVM will allow to use as many devices as possible with ETC.
Rober D.: Ethereum Classic has seen some decentralized applications launch on the platform in recent months. With the next release of the DApp SDK, do you think that more applications and projects will be launched on Ethereum Classic than on other similar projects?
Darcy: We hope there is a lack of tools to develop applications. Application developers do not want to have to dig deep into the code at the protocol level. So, platforms that have a good SDK and API have an increased chance of adoption (…).
Rober D.: And about mining, will Ethereum Classic be moving towards ASIC resistance now that Bitmain has created ASIC miners compatible with Ethereum Classic? Conversely, if Ethereum Classic is not trying to put up ASIC resistance, do you think that a sudden increase [in mining] (…) would be beneficial, harmful, or would not have a significant impact?
Darcy: We can not know without concrete numbers. The main concern is obviously that Bitmain is currently the only ASIC provider. We are not for or against ASICs – but we would like to see more competition in the ASIC market. (…)
Anthony: Fighting ASICs seems to be a lost battle and will lead to more ASIC centralization, rather than less, as only the best funded ASIC manufacturers can afford to defend against ASIC attempts. The more we can reach manufacturers, and the more the number of mining equipment in Ethash is available, the better the long-term decentralization of the network. By the way, if you are a manufacturer of mining equipment, we would like to speak with you.
In conclusion, although Elyther Classic has evolved very clearly, and is still evolving, since the “schism” of 2016, there are still many challenges for this blockchain. Wish the Cooperative ETC good luck in achieving its goals .