On July 10, 2020, Bob Summerwill, Elizabeth Kukka, Roy Zou, Dexaran, and Classic_Kevin answered questions from the community about 51% attack protection, Ethereum and Ethereum Classic differences, and the future of Ethereum Classic.
Jeremy from ChangeNow: Welcome to ChangeNOW AMA session with Ethereum Classic!
@BobSummerwill — Executive Director @ETC Cooperative.
@LizTK — Executive Director @ETC Labs.
@RoyZou — Chairman @ETC Consortium.
@Dexaran — Founder @Ethereum Commonwealth.
@Classic_Kevin — Community Manager @ETC.
The first 3 questions will be from us and then you have the mic! ?
Sometimes we will mute the chat or turn the slow mode on to let our guest answer live questions. ?
We will grant 15 best questions with $10 in $ETC each! ?
Please, be respectful and don’t repeat questions. Thank you! ?
Jeremy from ChangeNow: So, let’s start with the background of each guest!
Could you please tell us a bit more about yourself: what are your interests and hobbies, how did you become familiar with crypto, and what was the impetus to start supporting ETC?
Elizabeth Kukka: Good Morning – Liz Kukka, ED at ETC Labs. Outside of work I like to read fantasy and popular-non fiction, spend a lot of time hiking, listening to music and used to go to live shows prior to Covid. Found out about crypto in 2014, but watched on the sidelines for a couple of years. Found out about ETH/ ETC in 2016 and was interested in the smart contract aspect.
I started hosting a panel on data ownership and security while working at Plug and Play Tech Center. And was super stoked to have an offer to join ETC Labs in 2018.
Dexaran: I’m a security engineer, and I was interested in crypto long before Ethereum came into existence. I was following Ethereum since its very beginning; however, I was not involved in the project that much. TheDAO hack was one of the most interesting events for me, and it was what brought me into ETC community. I still consider ETC as the “moral winner” and “the right chain” even though I understand that Ethereum Foundation could not make another decision to solve stolen funds rather than force the hardfork.
I had my own vision of ETC development, so I decided to join the project and started to work on what I considered the most critical parts to improve.
Bob Summerwill: I am Bob Summerwill, Executive Director of the ETC Cooperative, a non-profit which supports ETC. I first got involved with crypto in 2014 and went full-time in 2015. I have been a professional software engineer since 1996, spending the majority of my career in video-games, working for EA Sports. I’ve got 3 boys, so have little time for hobbies, though I do enjoy gardening, travel and playing soccer. I previously worked for the Ethereum Foundation and ConsenSys, so had a front-row seat for the DAO. I always had a soft-spot for ETC, and got the opportunity at ETC Coop after taking up the offer to speak at ETC Summit 2018 in Korea.
Classic Kevin: Hey everyone! I first “got in” to bitcoin and crypto around 2014, while at school. I heard about it way earlier but thought it wasn’t legitimate. Around 2014 is when I started to take it seriously, especially during the theDAO attack. After that resolution I became more active in ETC as a volunteer.Then soon after I joined IOHK as community manager, now I am working with the ETC Cooperative as their new manager.
Roy Zou: Hi, my name is Roy, I am an engineer, engaged in the Cryptocurrency community since 2011, doing some translating and educating job for the blockchain Chinese community. I am an organizer of the Chinese community of Bitcoin, Dogecoin, Ethereum, and Ethereum Classic. Since Sept. 2016, I am leading Ethereum Classic Consortium (China) as an organization to promote the principles of Blockchain in China.
In 2020, I joined ECC(Ethereum Classic Cooperative).
My interests including reading, travelling, and watch movies.
Jeremy from ChangeNow: Thank you for your answers! Now, let’s move to your vision of ETC!
What are the most special features of ETC and what contribution has your team already made to the project?
Elizabeth Kukka: Some pretty cool features that can be utilized on ETC include OpenRPC:
A second would be the communities commitment to client innovation, such as CoreGeth.
Bob Summerwill: To my mind, what is unique about ETC is that it has a hard-money native token, with fixed emission schedule, like Bitcoin, but also has all the smart contract functionality of Ethereum.
Dexaran: I would say that I researched alternative smart-contract development platforms, including EOS, TRX, and some others. I would conclude that newer smart-contract platforms greatly outperform Ethereum-based platforms. As a result, I would call immutability the most important feature of ETC. If you want a truly immutable chain, then you have no better choice than ETC. However, the capabilities of newer smart-contract platforms and DAPPs that could be developed on top of them are much wider.
I won’t call Ethereum smart-contracts a big benefit as these are prone to be outclassed by newer platforms. The first smart-contract platforms are at a stage of 1980s computers. Imagine how far these are to what is needed to make smart-contracts usable.
What contributions my team has already made?
The Ethereum Commonwealth was founded with the main goal of saving the Ethereum Classic ecosystem from deprecation. I had a different vision towards the project development compared to those of ETCDEV and IOHK. We independently raised funds and started working on identifying and solving problems that other teams did not pay attention to. During the first days of ETC we were improving the ecosystem by developing ClassicEtherWallet, python lang online compiler (which was not that widely used however) and establishing a high bandwidth RPC node.
We keep the whole history of our financial activity in an open financial report, which is still available to everyone.
Later, we focused on the most pressing issue of all smart contract-systems: (1) DAPPs are prone to hacks and (2) the root of this problem is not hackers being too smart but DAPP devs being too irresponsible. Our mission was focused around developing a security system that would significantly improve the fault tolerance of DAPPs (mainly by forcing DAPP devs to be more attuned to security measures). We have a working prototype of the system at our second project Callisto Network: Security DAO.
However, the model of Callisto Network relies on the implementation of a governance system. We have proposed our ideas at ETC alongside the Treasury model proposed by Charles Hoskinson (we have a prototype of IOHK Treasury proposal implemented in a smart-contract layer). All the source codes are currently available, and all the proposed features could be easily implemented if the community would reach the social agreement on this.
Roy Zou: For my take on ETC is decentralization and censorship-resistant. This is only reason I joined Bitcoin in 2011, and ETC in 2016.
Classic Kevin: I’d say its grassroots nature, true decentralization and a high degree of focus on trust minimization. It’s inherited everything from ETH. It doesn’t have the crazy features like sharding, staking, or a treasury but that doesn’t make it less of a quality blockchain. ETH tech with BTC philosophy.
Jeremy from ChangeNow: Great, thank you so much! Let’s talk a bit about the goals:
How do you see the future of ETC? Can you share any info about the updates you plan to offer to the community?
Classic Kevin: ETC has much more of a conservative development style, what it lacks in special features like treasury it makes up in its security and network safety.
Elizabeth Kukka: Well, ETC will stay PoW despite some other trends that you see popping-off left and right.
And, by keeping with PoW the community can provide reliability to devs., miners, investors etc…
PoW is longterm viability.
For updates, there are plenty. Interoperability being one.
For example, POA Networks and tokenbridge https://github.com/poanetwork/token-bridge.
Or even more recent, Chainbridge https://github.com/ChainSafe/ChainBridge.
Dexaran: Although the proposed security auditing system is not the final result. I plan to modify the system, and I will come up with a new proposal if it is possible to abstract the Security DAO from the implementation of the governance system. I would support any governance system proposal, however. I think that the on-chain governance system is what the industry needs, but we don’t have a perfect implementations across nowadays projects yet.
For such a security auditing system, it is important how the security audit reports are kept. Here comes the immutability property of ETC: if the reports (or even report hashes) are stored on a completely immutable blockchain, then it is a reliable proof of the security audit validity. While ETC is not really a competitive smart-contract development platform compared to EOS or TRX it can still serve as a security insurance platform, in my opinion.
Bob Summerwill: Many people within the ETC ecosystem see ETC as the long-term POW alternative to ETH 2.0, with a decreasing rate of change to the protocol itself. Lots can be done with L2 projects, and that is preferable to L1 changes.
Roy Zou: I see ETC has a bright future! Don’t forget it, we are still in the early stage of Cryptocurrency. ETC can a smart contract network powered many fields like finance, IOT, governance, and even entertainment industry.
ETH vs ETC. What’s the key difference? Why should I choose you?
Classic Kevin: Well see ETC as that cockroach that survives a nuclear war haha. Its security focused, socially scalable, and in time will become a top 5 blockchain. Down the road I think we’ll see more collaborations with other project teams and blockchains platforms in some manner. After ETH miners move to PoS in ETH 2, ETC will be the largest PoW native smart contract platform. Hopefully in the coming months start scaling, possibly change the hash algo, but I’m excited for state channels.
Elizabeth Kukka: ETC has lower competition for transactions so it’s easier to develop against ETC. A lot less bloat, and a dedicated + available community for support if you’re going to start building on ETC.
What is the structure of the company, is it a decentralized, open sourced protocol where everybody can contribute? If so, how does the governance plan on being handled?
Dexaran: While ETC is a decentralized project, the real power is the ability to push your changes to be implemented in a hardfork. This is up to the social layer of the project i.e. “community” and the willingness of exchanges to support the particular hardfork.
Even though I was an ETC developer at the early stage, not all my proposals were implemented.
Ethereum Classic will merge the LLVM ecosystem into the Ethereum family. So, what is LLVM? What can LLVM bring to EVM and members on the blockchain?
Dexaran: LLVM is a superior Virtual Machine that would greatly improve the smart-contract layer.
1. Performance improvements – contracts can do more things.
2. In theory, it can be possible to compile smart-contracts written in widely used common programming languages such as C++.
3. Better programming languages = better audibility, widely known development practices, and better security overall.
Classic Kevin: The EVM-LLVM project is being built by the etc core team and it opens the door for literally any programming language to be supported on ETC. Instead of being stuck with solidity and its flaws you can use a language like Haskell or Rust for smart contracts.
How does Gödel Labs Blockchain incubator help in the development of ETC? Does Gödel Labs focus on ETC?
Roy Zou: Gödel Labs is a blockchain venture studio based in China, it is also an incubator. We focus on the whole Blockchain ecosystem, but ETC is definitely our important part.
For most of the new smart contract platforms, the ecosystem of Ethereum seems like a big mountain, whether it is a developer or community ecosystem. It is huge. What does Ethereum Classic think of the Ethereum ecosystem? What are your thoughts on absorbing and dealing with Ethereum ecosystem?
Classic Kevin: Ethereum
ETH is much larger in many ways than ETC. You must remember for the first 3 years of ETC’s life it was just surviving with no funds from a Premine, ICO, free ETC dumped on the market price. ETC is much like BTC in that it is volunteers just working on a project with no creator or leader. ETH is by no doubt the winning standard for smart contracts unlike these eos types. ETC has a much smaller dev ecosystem, but over time it has grown and continues to grow in general. Ethereum cooperation isn’t all bad. There’s some really cool people over there but I don’t think ETC will be migrating into ETH or becoming a shard of ETH or something.
Elizabeth Kukka: A lot of major chains see interoperability as the way fwd., ETC included. Since we’re fully compatible with ETH, and really, regardless of network, to be able to have assurances that your code will still work, and you can take advantage of the emerging cross chain technologies, this is a win-win for everyone.
Having a dedicated community, new developers and projects joining the network have access to a lot more support.
Can you explain the relationship between Ethereum Classic and the Callisto Network project?
Dexaran: Callisto Network was started as an independent “prototype” project to implement the changes that were proposed for ETC.
Another mission of Callisto is to enhance the crypto industry’s overall security and provide security audits for smart-contracts. We were providing free of charge security audits for ETC smart-contracts earlier, but this feature is temporarily disabled. We will be happy to provide free security audits for ETC contracts once we finish the auditing system’s internal reorganization.
Most of our proposals that came from Callisto were rejected by the ETC community, which is mostly tied to the governance system’s proposal. It seems that, in ETC, no one is interested by our proposals, this cuts down the rest of the opportunities.
Elizabeth Kukka: I’m not sure that there is one. Individually speaking, we each connect with different projects if we’re interested. But that’s not a representation of ETC.
DeFi is one of the hottest topic in the blockchain space right now. Can $ETC share your opinions on DeFi with us?
Do you think that DeFi will disrupt the existing financial system? What is Unification approach towards the DeFi sector?
Elizabeth Kukka: ETC can participate in DeFi by way of Chainbridge , right now. And a MakerDao announcement will be coming out shortly. Making sure the community has access is always a good thing, having choices. When it comes to traditional financial systems, seems like change is already happening with JP Morgan Chase banking Coinbase + Gemini, and PayPal/Venmo providing buy/sell crypto within the coming months in the US.
What is ETC’s plan to SECURE its investors Against 51% attack or other attacks in the future? The Hashrate is far lower compared to ETH, so these attacks are still possible. So what’s our resolution to this important point?
Dexaran: We have the implementation of PirlGuard at Callisto Network. We have far lower hashrate even compared to ETC even though Callisto is almost immune to 51% attacks and we have survived a lot of them and learned the hard way.
Our implementation can be copy&pasted to ETC. I’m ready to coordinate the process if necessary.
Classic Kevin: We’ll the simple thing for network participants or transaction receiver should do is weight a little longer. Exchanges should just wait more blocks for withdrawals specifically as should dapps in the times ETC is most vulnerable. Hopefully we start to soon see the ethash mining from ethereum migrate to ETC soon. But for now we have monitoring in place, alerts set up, and lots of nodes. 51% attacks really only target the receiver of the coins. If they’d just wait say 20 more blocks they’d have it, instead of being sent back to the sender. Its also important to point out that the attacker did not use rented hash power from sites like NiceHash or any cloud mining.
Only businesses / devs / service providers need to run web3 nodes. If you are a consumer who only has a smartphone you will just use a node someone else provides. There is a whole large battle of figuring out how to enable people to create on phones before we tackle node hosting.
Roy Zou: Right!
Bob Summerwill: There were a few general questions about ETC.
I would just like to point everyone to https://ethereumclassic.org/, which is the primary community-driven website with information about ETC. It has been rebooted over the past few months, including translations being added. Lots of information and links to resources there.
Ethereum classic is the unchanged and original Ethereum chain. What was the Phoenix hard fork necessary to do and what were the principles changed? What new features of the virtual machine were obtained after the Phoenix hard fork in the Ethereum Classic chain?
Elizabeth Kukka: Add:
Blake2 compression function F precompile.
Reduce alt_bn128 precompile gas costs.
Add ChainID opcode.
Repricing for trie-size-dependent opcodes.
Calldata gas cost reduction.
Rebalance net-metered SSTORE gas cost with consideration of SLOAD gas cost change.
Blake2 precompile and ChainID opcodes are the most note worthy and some gas repricing.
What new opportunities for ETC holders appeared after the introduction of Phoenix? What are the benefits for dApps application developers? A huge number of ICOs were conducted at ETH, which gave impetus to the growth of the coin. Why is there no ICO at ETC and has it remained on the sidelines?
Classic Kevin: Well the fact that all ICO’s whether they be legitamate or scams further bloats the blockchain. Nowadays you can’t sync an ETH node in a reasonable amount of time. Its a good thing to have stayed on the sidelines but there have been successful ICOs like ETCWIN, Stampery, and a few more.
The opportunities for the end user is really more products and project that collaborate or use the ETC chain also. These forks helped development mostly, now ETC has all the fantastic tooling ETH had, it’s got access to ETH via all sorts of bridges and can interoperate much easier for dapp devs.
Does ETC have a supply cap? What is your opinion on that? Should the supply be fixed, eventually?
Bob Summerwill: Yes, there is a supply cap.
Elizabeth Kukka: Fixed supply.
Every industry is severely affected by the egregious situation of the Covid-19 outbreak. Does it affect the growth of $ETC and its? What are your plans to turn challenges into opportunities for $ETC development?
Elizabeth Kukka: Great question! Covid has locked a lot of us down but it’s also encouraged more global collaboration. For instance, I’ve seen more folks from across the world attend events, present their work etc… because the can Zoom or Skype in, instead of flying to a conference paying for hotel etc… So it’s really helped us meet more people, and have great diversity. We also have a partnership with UNICEF and commitment to supporting projects that are impact oriented in emerging markets, it’s great to be able support communities that are often overlooked, specifically during covid.
ETC has long remained in the shadows, and little has been heard lately. I want to know what recent developments and achievements you successfully completed in 2020?
Elizabeth Kukka: A bunch! Here’s a recent Tweet + Medium about it
Could you tell us why Ethereum Classic and Ethereum do not natively interact with off-chain services?
Elizabeth Kukka: Mainly because the focus is on public + opensource.
The other thing is scope as well, off chain services are just that off chain, so dictating how these interactions shoud work is a bit out of scope for ETH or ETC.
What is the most innovative feature does make ETC different to ETH?
Roy Zou: In technology side, they are almost the same! Yes, before ETH goes to ETH2.
Elizabeth Kukka: Dedication to client innovation, as well as the work being done on EVM-LLVM. Solid dev talent.
How to be motivated of using Ethereum Classic blockchain?
How does Ethereum Classic provide privacy to user data?
Dexaran: >How does Ethereum Classic provide privacy to user data?
From what I know ETC has no privacy protocol implementation. The user data is not available through the chain as you only use hex addresses on ETC. So if you don’t know who owns the 0x01000b5fe61411c466b70631d7ff070187179bbf address, then you have no way to gather any data.
Transactions are transparently available; however, if you know who owns the address (and in case of a large organization you know it), it is easy to track their transactions.
Transaction mixers and zk-snarks in theory can solve the problem.
DeFi is seeing tremendous growth since 2019. Are there any notable DeFi projects coming/being developed on Ethereum Classic?
Elizabeth Kukka: Chainbridge connects ETC to MakerDAO, and we’re looking at a number of DeFI projects and Stablecoin projects. If you’re interested in applying, or have a great team to recommend, go to etclabs.org.
I get why ETC was created, the Dao, etc. but I’m wondering what etc supporters see in the near and long term for the project. I follow ethereum, and am aware of the number of developers, conferences, projects. Why is anyone choosing etc, and is it just going to continue as a clone of eth with a few tweaks to acknowledge the DAO?
Elizabeth Kukka: Hey There! It’s definitely not a clone ? But it does make sense to keep compatibility, why not have the benefits of both? OS City launched their artisan project on ETC last year, it’s a proof of origin project > for crafts people in Mexico to be able to validate that their goods are handy-crafts and not from a factory. We’re also about to announce a team that we’re working with from the micro loans space. ETC has definitely had the slower ramp-up, for a number of reasons, we’re getting there.
What is the importance of developers and the community in the Ethereum Classic ecosystem and how easy and convenient it is to connect and apply Ethereum Classic technology to your existing enterprise infrastructure?
Classic Kevin: Well before ETC Labs there were little to none, no that they’ve gone through multiple cohorts there are more projects using ETC in their dapps. Other projects also began to spring up like Commonwealth.gg, or OriginalMy. You can see all listed live dapps on ETC at https://DappDirect.net.
Protocol devs are always crucial to the progress of any blockchain. They are the smart ones that build all these complex components inside these systems. They also make sure changes go though smoothly and find and fix any bugs. ETC right now isn’t too suited for enterprise solutions. It can do them but it would be better to have scaling solutions for them.
What is the leading Utility of $ETC on Etherium classic ecosystem? And what is tokenomics of it?
Elizabeth Kukka: It’s a deflationary policy.
Why did you decide to HARDFORK from ETH? What are the main reasons or benefits of maintaining a high level of interoperability with ETH?
Elizabeth Kukka: Regardless of network you can have assurances that your code will still work, and you can take advantage of the emerging cross chain technologies.
The development of ETC has faced many challenges especially for its relationship with ETH and its community. How have you faced these community mistrust issues, making ETC an acceptable currency and improving your platform updates?
How many wallets besides Jaxx and Classic Ether Wallet offer support for your cryptocurrency? If there are others, which are they? @LizTK @bobsummerwill @Classic_Kevin.
Elizabeth Kukka: There are several. MetaMask (custom configuration), Nifty Wallet, Guarda Wallet, Exodus, Coinomi, MyEtherWallet, MyCrypto, Jaxx, and more.
Classic Kevin: ETH technology is identical to ETC tech. As for relationships there are still some who hate ETC but many do not. After all we supported the same project before theDAO.
Any community mistrust is dealt with socially and so it doesn’t affect the network.
Check the ethereumclassic.org website for the list! Lots of innovation ahead!
Could you explain and share with me the special character of ETC blockchain? If I am an developer how can I build my project on ETC blockchain ecosystem?
Elizabeth Kukka: All ETC tools support ETH + ETC, ETC Community is deeply involved in developer experience and a number of projects built around supporting devs., such as OpenRPC which helps developers build clients and servers to interface with JSON RPC services, block explorer that’s database free. And a client that is protocol agnostic, can be used for ETH + ETC. All tools are developer friendly, Apache 2.0 licensed.
What your plans in place for global expansion, are ETC focusing on only market at this time? Or focus on building and developing or getting customers and users, or partnerships? Can you explain this?
Elizabeth Kukka: Hi There! Lots of partnerships in-place, feel free to DM for more info or check out etclabs.org.
How does your platform manages if there are problems occur with your clients,users or traders especially in the case of withdrawal, deposit or in trading?T o whom, we will ask assistance?
Elizabeth Kukka: ETC doesn’t manage any exchanges. So if you were using Kraken, for example, and there was an issue with their wallet, buy/sell/trade, even if it was in ETC, you’d want to contact them first. You could also stop by the ETC community discord is always a good stop to ask questions or to find out information.
How did the security risks on the Ethereum network occur in 2016 and how was Ethereum Classic created? Can you guarantee that the security risks that occurred in that period will not be re-established on the Ethereum Classic network?
Dexaran: What do you mean by “security risks 2016”? Is it TheDAO hack?
In case TheDAO hack is what you meant, I could say that the hack itself is not a fault of Ethereum protocol, but a fault of “code is law” paradigm. The fact is that programmers can NEVER write error-free code, so the system has to be fault-tolerant.
I’m trying to solve this exact problem with Callisto Network and the SecurityDAO system.
ETC LABS is funding blockchain startups. What new startups can you brag about and what are the criteria for choosing a startup for financing?
What is the ETC strategy or guidelines to attract more developers and gain more credibility?
Elizabeth Kukka: ETC Labs recently started working with Open Relay / Rivet, and will be announcing another project soon from the finance side.
Generally speaking, there are 3 categories:
1. Dev Tooling / Infrastructure.
2. Financial Inclusion, including DeFI.
3. Impact in emerging markets.
For your third question, we’ve done a lot to make ETC easy for devs to use, such as OpenRPC which helps developers build clients and servers to interface with JSON RPC services, block explorer that’s database free. And a client that is protocol agnostic, cit an be used for ETH + ETC. All ETC tools are developer friendly and Apache 2.0 licensed.
ETC recently had three MAJOR UPGRADES – Atlantis, Agharta and Phoenix hardfork for better interoperability and protocol parity with ETH, yet it has failed to attract MAJOR decentralized app developers. How valid is this statement ? Do you have a robust developers’ community?
Elizabeth Kukka: Over 500+ global , with very talented devs that have built solutions like OpenRPC, working on EVm-LLVM, client innovation. We have historically been known to be awful at marketing.
ETC has been Consistent on its development, Can you tell us about the recent Achievement?
What is the target for short term?
Elizabeth Kukka: Hi There, the 2020 Q1Q2 milestones were just published ✨
You can check them out here: https://twitter.com/etc_core/status/1281284680357220353?s=20.
What are the main benefits for Developers on the platform?
Can You tell us about the background of your developers so that a new developer can get some motivation?
Elizabeth Kukka: There are over 500 volunteers, so that would be difficult to do. Several have worked at major names like Consensys, GroupOn, Accenture, EA etc… and many have been devs for over 15 years +. You can see some of the projects developed, here https://etccore.io/projects/.
Can You tell Me some Technical advantages to the Project?
who are the People behind this Great Project?
Elizabeth Kukka: Great question and its hard to answer. For this AMA here, you have 5 different organizations that each support ETC. There’s an ETC Community Dischord if you want to find out more https://discord.gg/2XqzPU.
Everyone Say that ETC is a hardfork of Etereum but you say that Ethereum is hardfork of ETC,
Can You tell us about it?
Dexaran: Technically hardfork is an upgrade of a protocol. In order to restore the funds that were leaked from TheDAO contract the Ethereum Foundation decided to make an emergency hardfork. Technically Ethereum forked off from its original version and upgraded to a new “modified” version of itself which means that technically Ethereum is a fork of ETC.
However the Ethereum development team has followed ETH chain so does the majority of the Ethereum community.
Classic Kevin: ETC was against theDAO hard fork bailout in 2016. It neglected the Ethereum Foundation’s hard fork that would make the exploit as if it never happened. They did this on what was supposed to be an open, decentralized, uncensored and immutable to fix a problem of a Smart Contract. So they created a new network took the name, Ethereum (TradeMarked by ETH Foundation) and censored or removed the hack.
What’s the main problem you guys currently seeing & how to you look to deal with ETC?
Elizabeth Kukka: Scalability is a challenge for most public chains, we’re looking st stateless client solutions right now, for example.
What ETC has done and plans to do to achieve real-world adoption?
Elizabeth Kukka: OS City, a team that we worked with last year, launched an Artisan project on ETC > proof of origin solution for crafts people, to prove that their work wasn’t made in a factory. That’s one impactful success story. We have a micro-loans team that we’re working with who we’ll announce soon.
Will ETC ever have staking?
Dexaran: I have made a staking proposal alongside my governance system proposal. As it was rejected I think that the current ETC community does not want the staking feature. As soon as the community may change I’m ready to propose and implement the staking feature myself.
Can you explain on what do you mean by multi-chain & how ETC participates to that future?
Elizabeth Kukka: Yes there are a couple of bridges out there right now, such as POA Networks Token Bridge https://github.com/poanetwork/token-bridge And Chainbridge https://github.com/ChainSafe/ChainBridge.
What was the reasoning (besides EVM compatibility) behind breaking immutability with the Phoenix hard fork?
Elizabeth Kukka: Check out this article here to find out more regarding Phoenix hardfork https://medium.com/etc-core/migrating-from-parity-to-core-geth-d39606ad00c2.
Staking is currently a Popular topic in Crypto Industry & its helpful encourage investors to hold token long term! Does, ETC project Also Supports Staking? If yes, then what are the Requirements for a Node and Validator Node be? Also, How rewards based on for running a Node?
Classic Kevin: ETC does not but there are many coins built on top that allow for Staking, or Masternodes, or whatever other feature. Just like Ethereum, Bitcoin, node operators don’t make any money.
Is there any incentive when running a node other than securing and decentralizing the network?
Dexaran: I would say no.
Even more of a problem you need to pay for the server where you run the node.
How do I setup an Ethereum node on Raspberry Pi?
Elizabeth Kukka: Great question and perfect timing, we just posted this article on how to do that:
Do you provide funding support to empower developers that would want to build on ETC ?
Elizabeth Kukka: Yes! We have offer grants, find out more here: etclabs.org
#ETC/ETH keeps growing and making more developments. What are your major priorities to achieve your main goals? What are the steps you’ve been doing to keep these developments?
Elizabeth Kukka: Decentralized storage, interoperability, and scalability. We are working on all 3. Collaboration with Storm and a couple of other teams on storage, Chainbridge and TokenBridge for interoperability, and looking at different stateless client solutions for scalability.
We have seen many Advancements in Crypto Industry?
What real life changes ETC Brings to the Market?
Why was it Important?
Elizabeth Kukka: Most advancements, beyond development can be seen from an impact perspective with the work that we’ve done with OS City, W3, and a new team that we’ll be announcing in the next few weeks.
@eth_classic dev team, can you tell us what ethereum 2.0 means for the etc ecosystem? Or should we be expecting ethereum classic 2.0 as well.
Classic Kevin: ETH 2.0 is filled with a lot of complexity and unproven technology. With ETH 2 you can expect a lot of “fix-it” or “rescue” forks. But ETC is not competing with ETH 2.0.
Scaling: https://medium.com/@DontPanicBurns/the-blockchain-stargate-366a7a72822e and https://github.com/web3masons/MetaSwap too just PoCs tho https://etherplan.com/2020/01/14/the-logic-of-why-ethereum-classic-will-rise-1000x-in-the-medium-to-long-term/9639/.
Bob Summerwill: Thanks, everyone! ETC Discord always a great place for ETC questions:
Classic Kevin: Yes join our discord! Thanks everyone!
Jeremy from ChangeNow: Thank you for taking time to join us today!
Elizabeth Kukka: Thanks @ChangeNOWio! Have a nice day, everyone!
Dexaran: Thanks, everyone, for the chance to share our ideas.
Jeremy from ChangeNow: Our community is always open for this! Everyone is welcome to share the coming updates, news, plans and ideas here!
Previous Ask Me Anything sessions with Callisto team:
Yohan Graterol’s Ask Me Anything on 08/06/2020.
Dexaran & Yohan Graterol’s AMA with Change Now on 02/03/2020.
Passive Income with Crypto: Masternodes VS Staking.
Trust the Blockchain, Audit the Smart Contracts.
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