Ethereum Classic Vision Review

The problems associated with scalability, security, commission size and transaction speed are shortcomings of many existing cryptocurrencies and have become a serious obstacle to the development of the entire distributed registry industry. Today, the most widely used blockchains are Bitcoin and Ethereum, but they are not suitable for bulk transactions. Today, they are used by a limited circle of people mainly for their investment attractiveness, but for the widespread introduction of blockchain technology into real sectors of the economy and the global recognition of apparent superiority over the outdated economic model, new developments are needed due to which performance indicators will not fall with increasing network bandwidth.

What is Ethereum Classic Vision ?

Ethereum Classic Vision (ETCV) is a new cryptocurrency, which will appear in a week as a result of Hard fork Ethereum.
Ethereum Classic Vision is an advanced, fast, easy-to-scale and highly decentralized system, and the Proof-of-Stake is not consistent with these goals. Unlike Ethereum, which is likely to go through a long phase of partial testing (testing one block out of 100 using PoS), Ethereum Classic Vision will perform a more decisive and confident transition.

Why create a new currency ?

The reason for this separation and the creation of a new currency was the confidence of a part of Ether developers that the main team, led by Vitalik Buterin, abandoned its ideals and beliefs to create a decentralized, powerful and safe crypto currency that takes into account the interests of miners and ordinary users carrying out translations and working with contracts. Therefore, a separate team decided to take responsibility for creating a cryptocurrency that would identify the original idea of the Etherium, its classic point of view, which is what the name of the new coin Ethereum Classic Vision actually speaks about.

The creators of Ethereum Classic Vision believe that the main Ethereum Foundation left its original idea and pulls Ether to the bottom, so they decided to create their own coin, which will correspond to the “classical vision” of Ethereum, which was laid by its creators at the very beginning of this currency in 2014. In addition, the impetus for the creation of ETCV was the departure of the main development team from Ethereum Classic, due to the insufficient financing of this currency.

The Goal and innovation

One of the goal of Ethereum Classic Vision is to solve the main problems which is facing on Ethereum, including scaling, mining inefficiency and high cost of data storage.
In addition, the creators of the coin Ethereum Classic Vision have registered in their White Paper one change that should be to the liking of the majority of the community, and especially to developers of decentralized applications, on which Ether, which is primarily a platform for creating Dapp and ERC-20 tokens, not crypto currency. The change concerns the policy of payment for placing smart contracts on the Ethereum Classic Vision network, which will now be a one-time fee, rather than a periodic lease, as Vitalik Buterin intends to do on the Default Ether.

This innovation will help attract a large number of developers to work with Ethereum Classic Vision, as well as the fact that the creators of ETCV plan to integrate the IPFS protocol into their network in the future, which will become affordable and cheap hosting for decentralized Dapp applications based on Ethereum Classic Vision systems. This will also be an additional incentive to move from ETH to ETCV.

The benefits

The main advantages of Ethereum Classic Vision creators say - scalability, security and maximum decentralization. They plan to combine all the main advantages of the Ethereum Classic coin (appeared during the fork of the main network of Ether, which occurred in 2015) and the latest developments, which are drawn by the main team of Ether, such as the Sharding system, which can significantly increase the scalability of the network. The developers do not want to make these changes and declare that their currency Ethereum Classic Vision already from the beginning of the hard fork will be able to support more than 25,000 transactions per second, against approximately 25, which are currently available on the standard Ether and their increase will happen quite not soon.

The main technical innovations

• Migrating to the consensus of mining Proof of Stake instead of the current Proof of Work, which will significantly increase network decentralization and make mining available for most of the Ethereum Classic Vision community, as well as provide 51% reliable protection against attacks that can be done with PoW

• Introducing a sharding system that solves Ether’s problems with scalability and allows, according to ETCV developers, up to 25 thousand transactions per second, which is hundreds of times more than Ether, Bitka, Lightcoin and other crypto currencies, and can compete with such a figure except Ripple's XRP token

Token Information

To receive these coins, you need to keep ETH on your wallet, such as Trust Wallet, Metamask, MEW, IMTOKEN, Jaxx, Ledger NanoS and other ERC-20-supported wallets. The ratio for ETCV is 1: 3, which means that holders of 1 ETH will receive 3 ETCV each after branching.
ETCV tokens will be distributed free of charge to ETH owners on January 11, 2019.

For further information about Ethereum Classic Vision come to visit :

Hard fork Ethereum - Ethereum Classic Vision - 11.01.19

Website : https://ethereumcv.io/#subscribe
White paper - https://ethereumcv.io/whitepaper.pdf
Link to the website - https://ethereumcv.io
Group in Telegram - https://t.me/ethereum_classic_vision
Official Github - https://github.com/ethereumclassicvision
Official Twitter - https://twitter.com/eth_cv
ANN : Bounty - https://bitcointalk.org/index.php?topic=5089912.0

Author :

Bitcointalk Name : waroenkshisha
Bitcointalk Profile : https://bitcointalk.org/index.php?action=profile;u=952938
Eth Address: 0x44cF61F420D6cbA87627a0371521611082a12004