For the third month.
Picture taken from the website: http://smotryvideo.ru/
In her third month since then, as the Ethereum project was divided into two branches: the original Ethereum (ETH) and classic (ETC). After the first dust settled, both parties moved on to drafting long-term plans and cobbling together the community of developers and activists. In the first fight team Vitalik Buterin retained a significant advantage, but not a landslide victory. Now it's time for the trench warfare that could last for many months.
The plans of the developers of Ethereum known since last year and after hard forks have not changed significantly. Therefore, there is no need to repeat. The closest major change, called Ethereum 2.0 will be the release of Serenity, which will be implemented the transition from PoW to PoS with a new mechanism of consensus Casper. Output Serenity will probably happen in the summer of 2017.
What can you answer ETC? This project is still very young and his plans are drawn up on the go. What began as regular protests in the Russian-speaking community against the hard forks of Ethereum, he begins to gain weight. A community of developers and users ETC is growing, and its basis is the idea of the immutability of the blockchain and reduce the impact of a centralized team on the development of the project. Roadmap Ethereum Classic, much more specific than the previous one, was published a few days ago, and now have the opportunity to compare it with the plans of the ETH team.
The main points of roadmap ETC:
1.To disable the "bomb complexity" October 1, 2016.
2.IV quarter 2016 to conduct reorganization of the development team, including through the recruitment of specialists. Work to stabilize the platform.
3.The first quarter of 2017: the Transition to hybrid mining with the unit for 10 seconds. The change in the mechanism of emission.
4.Second quarter 2017: Development of a package of tools for developers.
5.Third quarter 2017: entry into the enterprise market, the transition to the MIT license.
6.2018 focus on security and anonymity, smart contracts.
Needless to say plans are wide and promising. Now, about these points in more detail.
Strategic plans ETC
The main problem with "protest" of the project that the ETC is still firmly associated with its progenitor - Ethereum - or rather, most do not own the code, except for a hastily made changes in the section of the network. That is why the next step for ETC should be a complete "separation from the roots" and the deployment of independent code base and system design.
Probably more correct would be a complete re-branding with a change of name and symbolism of the project, as and morally, and from a legal perspective, all rights to the brand Ethereum belong to its creators Gavin Voodoo and indigestion Buterin. But such a move now would be too risky.
Charles Hoskinson, President of IOHK, who took upon himself the main burden of development ETC, has shared his opinion about the future of Ethereum Classic. Earlier, Hoskinson some time was the CEO of Ethereum, but left the project due to ideological differences. He now provides powerful support ETC in creating development strategies.
PoW or PoS?
One of the most difficult problems to ETC is the need to choose the modality of the consensus. Now as the ETC and ETH use the mechanism of proof of work (PoW), which built the so-called "bomb difficulty" (difficulty bomb). This "bomb" over time, makes mining all the more laborious and less profitable. The purpose of this feature is to encourage the transition to a new configuration. In addition, the presence of such a "bomb" allows you to be sure that no one will feel itself on the network too comfortable, getting a strong hash rate, and maintaining the status quo for a long time.
As indicated above, Ethereum plans to move to a mechanism of proof of share (PoS) with the creation of the Protocol for Casper. Hoskinson believes that the system is PoW – a smarter way to network ETC. He hoped that the ETC will not change the mechanism of work – it will also help to build up from Ethereum.
In the system of PoW possibilities of mining are directly dependent on the equipment capacity and cost of electricity, which the consumer can afford. In the PoS system, traditional mining is virtually absent. Instead, the "authentication agent" (validator) must prove their ownership of a certain number of tokens. In other words, the user must have a certain monetary base.
Hoskinson, sees many advantages to not to part with the mechanism of the proof-of-work. The most obvious - ETC will be able to attract all the miners who will be forced to leave the Ethereum once it will implement PoS. In addition, Hoskinson believes that PoW is more suitable for innovation and change in the system.
Hokanson, notes that ideally, the ETC should strive to adopt a hybrid mechanism of emission, which will combine the advantages of PoS and PoW. Or, at least, to create a modified version of PoW, which will eliminate mining pools and will have algorithms that are resistant to ASIC. However, this dream could not be anyone else to implement. "Accoustique" algorithms one after another surrender to the technological progress, as soon as there is economic feasibility of chips ASIC for a specific algorithm.
In recent talks with Hong Zheng Zhu, a Professor from the University of Virginia examined the issue of improving PoW, Hoskinson discussed possible modifications of this mechanism, which will allow to solve some problems.
Hoskinson and his team at IOHK also study the verification complexity for smart contracts (smart contracts). It is likely that this will help to avoid errors in the code leading to the breaking of contracts, a similar collapse of the DAO.
Finally, IOHK examines problems associated with network management. Now many people want to donate money for development ETC. But first, the project must choose a governance structure which will help prevent the misuse of invested funds and conflict of interest.
Now IOHK eyeing the control Dash, an integrated financing system, which is the allocation of funds to the developers and the media.
At the moment it is obvious that the ETH and ETC are separated, but the specific steps we will be able to see until next year. While they will focus on the development and expansion of the community. Financial and technical base ETH much stronger, so ETC is trying to attract new supporters wherever possible.
It is the desire to attract miners can explain the failure ETC of switching to PoS, less energy intensive and more flexible for the platform of "smart contracts". And miners who are unprofitable to lose such a promising source of income, like the ether, remains nothing how to support Ethereum Classic. This support has already showed such famous people like Samson MOU, Chandler Guo and others. Most of the major pools opened mining ETC, it's only for users.
But there is a stumbling block. Today even the elimination of the "bomb of complexity" does not make mining ETC consistently profitable, its rate is below the "Pope-rival" more than 10 times, and the growth can see a network without a growth rate would kill the profitability of mining. Trade volumes ETC after the decline of primary interest also continued to fall, and even the release of roadmap did not cause a significant burst of activity.
Today, Ethereum Classic decided to start six little-known projects while in the original Ethereum, the number is approaching a hundred, and some have already managed to get wide community support and investors. Probably, at least in the next six months, ETC will run the projects, striving for independence and anonymity, and rely on ideologically oriented users. Larger projects will focus on the financial performance and long-term
As for the original Ethereum, he was increasingly drawn to the path of a commercial platform for corporate projects. No wonder Microsoft is increasingly cooperating with Ethereum and actually goes to unite with him of your own project Bletchley.
Team Buterin has already shown that to comply with the financial interests ready to take unpopular steps, even threatening to split the community. The lack of community influential category of miners will further strengthen the position of developers and would increase the influence of large holders of the ether. However, the project has grown so much that may not respond to some reputational costs, with the support of large companies and investors.