Hard fork – Ethereum Classic Vision – Fork 3:1 of Ethereum

jakir22 (-1)(1)in #ethereum • 6 years ago

Today I will review a little project about the Ethereum Classic Vision smart contract platform

At present, the cryptocurrency market is experiencing one of the most difficult stages so far. Prices of Ethereum and Bitcoin are decreasing, transaction processing times remain low, falling mining rewards, storage costs and suggested solutions for scaling and energy problems inefficiencies that are far from implementation.

Blockchain fans have long hoped to see and help build a world where cross-border transactions are instant and free, where individuals can run their business without interference from banks or other authorities, and consent will not depend on trust between the parties.

About Ethereum Classic Vision (ETCV)

We expect a world where crypto currencies are as normal as current banknotes. A world where smart contracts are the same as cell phones, tablets, and laptops. A world where people use smart contracts frequently with the Ethereum Classic Vision platform

Ethereum Classic Vision (ETCV) is an Ethereum hard fork that utilizes the best of both worlds — a true decentralization of Ethereum Classic and advanced protocols developed for ETH, such as Po mining and sharding. With its enormous scaling potential, high speed, and great appreciation for miners, Ethereum Classic Vision is the final answer to today’s market challenges. During the difficult period that will come on January 11, 2019, all Ethereum holders will receive 3 ETCV for each ETH in their personal wallets.

Ethereum code has a “difficulty bomb” built into it — a piece of code that decreases the efficiency of mining new blocks, until the validation process stops completely — this is known as the “Ethereum ice age”. None of the improvement proposals offer a real solution — and the promised switch to a Proof-of-Stake (POS) mechanism is still years away. Prizes for miners will be lowered and rental fees will be introduced for smart contracts. Giant mining groups will need more power, and individual mining will lose economic sense. Ethereum has failed its supporters — and its price will keep falling.

Ethereum Classic Vision is a new digital currency that intends to bridge the gap between hope and reality. Being the hard-fork of Ethereum, the system will use the most advanced solutions offered for the world’s second largest digital currency, while still maintaining the ideals of decentralization. This project will combine technologies such as sharding, P2P asset sharing, dApp development tools, and decentralized file storage using IPFS. Starting with a PoW-based system, it will then offer a stable prize for the transaction validator through Proof of betting recognition. While at the same time creating an optimal environment for creating new assets.

Ethereum Classic Vision Advantage

Ethereum Classic Vision (ETCV) combines all three features
must be owned by the blockchain:

Decentralization
Scalability
security.
Ethereum Classic Vision (ETCV) offers a number of significant advantages over Ethereum, Ethereum Classic, and Bitcoin:

Proof-of-Stake
A more efficient, safe and profitable mining protocol that will make the network fully decentralized.
There is no rental storage fee
Launching a smart contract will be charged at least once; unused contracts can be placed in temporary sleep conditions as a result of voting.
The Sharding ETCV network will be able to process 25000+ transactions per second compared to only 25 at ETH.
IPFS integration
Cheap decentralized file storage for your dApp.
Rewards that
fair ETCV Miners don’t need to worry that their prizes will be handed down arbitrarily – in our system, the interests of miners and traders are carefully balanced.
VISION ETCV offers a bold and effective solution to the crisis in the blockchain industry. Ethereum, the world’s leading platform for developing and building block applications, is currently in a deep crisis. Many solutions have been proposed, but none has been implemented so far — and the current Ethereum management program does not inspire much optimism in the future. Solving existing problems will take years, and the solution itself can cause more problems in the future.

Fork hard Ethereum Classic Vision-January 11, 2019
Snapshot of network ETH will be taken on January 11, 2019. All users who hold the ETH in their personal purse at the time snapshot will receive 3 per each ETCV ETH after fork.

The end of Ethereum Classic
The key developer team behind Ethereum Classic (ETC) abandoned the project due to lack of funding. Decentralized original cryptocurrency cannot be saved — the time has come for a difficult fork.

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