A well-known developer of the ETCDEV team, Donald McIntyre, stated that the mutual integration of Ethereum Classic with Ethereum would create a truly safe and effective blockchain. He talked about it in an interview with CryptoGlobe.
"The ETH can be seen as a sports car, and ETC as armored. ETH means downsizing and performance, and ETC means high costs and safety."– he stressed.
McIntyre added that Ethereum Classic and Ethereum cover different directions in the blockchain industry, but combining the capabilities of both ecosystems would allow them to compete in the future with alternative projects – EOS, Tezos and Cardano.
Therefore, according to him, if Ethereum undertakes to reduce and process a large number of transactions, Ethereum Classic can act as a "highly secure basic chain" to guarantee the security of the former.
MacIntyre noted that after the final transition of Ethereum to the Proof-Of-Stake consensus algorithm, Ethereum Classic will remain "the only PoW blockchain with a fixed monetary policy" [in addition to Bitcoin].
"This is an extremely valuable niche in the industry, and its value will only increase in the coming years."
The developer also criticized the statement by EOS founder Dan Larimer regarding the superiority of the Proof-Of-Stake Delegate consensus algorithm over existing counterparts. According to him, the registries distributed as EOS are not complete blockchains, but only imitate the consensus and security that exist on the Bitcoin network and on Ethereum Classic.
So, he believes, centralized systems like EOS are overloaded with bureaucracy and even lose AWS, Microsoft Azure, IBM Cloud and Google Cloud products, where security is mediated.
MacIntyre is sure that in a few years the ecosystem of cryptocurrency protocols will come to the division in the base layer and in the superstructure. The task of the first is to provide security at the expense of speed and low transaction fees. However, add-ons from the base level [Lightning Network, Plasma, Raiden, Liquid and others] will solve these problems.
"If Ethereum, EOS, Cardano, Tezos and other PoS networks recognize their true nature, they will no longer compete on a basic level and will agree to be the second level"– sums up McIntyre.
Recall, the ETCDEV development team collapsed due to financing problems at the end of 2018.
Subscribe to the Forklog channel on YouTube!
Found an error in the text? Select it and press CTRL + ENTER
Subscribe to news Forklog