Ethereum Classic, insider trading

Drama around hardforka Ethereum, caused by the attack on the project The DAO, continues to evolve. Some of the miners with the support of the community refused to support hardfork and continued to work in the old network. Thus was born the Ethereum Classic.

However, even in the first days after the attack on The DAO community appeared an alternative view that hardfork and any attempts to freeze or return the stolen money to undermine the credibility of the Ethereum and generally contrary to the first principles kriptovalyutnogo community.

What Ethereum Classic and how it differs from the Ethereum?

Ethereum Classic - this is the Ethereum, as it was before the recently launched hardforka. At the moment, the project is supported by several mining-pools, some representatives of the industry and exchange Poloniex. It is worth noting that users keep their money in their wallets, coin received in Ethereum Classic and the Ethereum. Poloniex Exchange and transferred to the balance of all the holders of the new ETH tokens ETC.

ETC capitalization for the first day of trading on Poloniex exceeded $ 70 million and a daily trading volume of approximately $ 15 million at the time of publication.

At the time of publication Ethereum Classic is supported by three mining-pools:
http://ethc.epool.io
https://ethc.coin-miners.info
http://pool.ethereumclassic.com

In sabreddite Ethereum Classic community also appeared to call for support of the project. Among the ways to support the initiative are listed: Mining Ethereum Classic, run full node, assist in the development, ETC trading and disseminating information about the project.

Of course, the network almost instantly spread rumors that for Ethereum Classic are the same people who carried out the attack on The DAO. Moreover, some users claimed that the Attacker has brought ETC tokens on a stock exchange and started buying them for coins ETH.

Meanwhile, the Ethereum network after hardforka balance The Dark DAO, as expected, is 0 ETH.

Adding Poloniex reaction and other exchanges

Adding ETC one of the largest stock exchanges kriptovalyutnyh caused panic and confusion in the community. At the same time all the clients exchange, on the balance of which were ETH coins, coin ETC was assessed in a ratio of 1 to 1. The users have been credited with only as much coins ETC, as ETH was with them on the balance sheet at the time of hardforka.

However, the absence of preliminary announcements of Poloniex about adding ETC makes a lot of questions to ask. Typically, the addition of new coins Exchange informs in advance. The key problem lies in the fact that only a limited number of people knew about it and could you add in advance to sell their coins ETH. The rest on the fact of the loss suffered.

The main question that now disturbs many industry participants, especially traders, is whether to add other major exchanges Ethereum Classic. According to preliminary information, Bitfinex Exchange ETC adds that if heshreyt network will be more than 20% of heshreyta Ethereum. Currently, the figure is already 5.6%.

What is good and what is bad

In early June, just days before the attack on The DAO, Acne Buterin said in an interview Backchannel:

"In general, I support any attempt of separation that can occur. If in the future such a discussion arises in Ethereum, I certainly would be very happy to see how Ethereum A goes in one direction and Ethereum B in the other. "

Well, that's what eventually happens. Disclaimer hardforka unlikely to remain just a small group of people and deny the fact that the credibility of the Ethereum has been undermined, it is impossible. The emergence Ethereum Classic - the apogee of distrust of the established order of things in the industry.

Developer Gavin Wood has supported Ethereum Classic initiative and, as previously reported, has promised to provide Parity client a new project.

Equally important, how to behave remaining miners, because if the network capacity Ethereum Classic will continue to grow, it automatically legitimizes its existence not only to the markets, but also as a platform for the development of distributed applications.

At last count, Mining ETC will be much more profitable for the miners that moves the selection of miners in a purely ideological plane either support conditional social justice in relation to investors The DAO, or obey the rules of the free market and unregulated.

It is very important, and the subsequent behavior of other kriptovalyutnyh exchanges. Since each exchange is the holder of a full node Ethereum, nothing prevents it on the basis of the same data run parallel full hearth Ethereum Classic and sell these tokens to another exchange. Therefore, by Bitfinex customers, the Kraken and other exchanges would be logical to require them to pass these tokens ETC in case the project does not go away in a few days. But the likelihood of this, apparently, is extremely small.

The fact that some communities are not simply abandoned hardforka, but could run Ethereum Classic in favor of his idea of ​​decentralization - an indicator of a certain maturity of the industry. However, at the same time, this situation is a new challenge that has previously not had to face the community.

In addition to the appearance of additional speculative instruments on the stock exchange, ETC part erodes the value of ETH and inevitably pulls themselves as part of trading volumes, and part of the market capitalization.

What will be the fate of the Ethereum Classic - time will tell, but if the people who are behind this project, really appreciate the openness of the system, and the immutability of blokcheyna value crypto-anarchism, they will have to exert maximum effort to avoid mistakes Ethereum Foundation. It is, above all, the publicity of the main developers and the direct or indirect influence on the opinions of their statements rest of the community.

A significant bonus for developers will be able to use all of the same functionality Ethereum with lower financial costs. It is therefore reasonable to assume that the project will support not only burns kriptoanarhisty, but also more pragmatic industry representatives.

Source: ForkLog