July 20 Ethereum has been a hard fork. In accordance with the opinion of the greater part of the community, the Protocol was updated without preserving backwards compatibility with previous SOFTWARE. In fact, the majority decided to migrate to a new blockchain, leaving the old to fend for themselves. At the moment the miners who chose a new blockchain, control more than 95% of the hash power. Fork ended the epic with The DAO, and all funds stolen (or if you want derived) from it by a hacker about a month ago, will be returned to the investors.
However, shortly after announcements of the hard fork a few days ago, the unexpected happened: was announced a parallel project, which received a resounding name of the Ethereum Classic. His supporters decided to remain true to the original blockchain and not use the code fork, "abolishing" the creation of The DAO. As I said, on the project website, "the goal Ethereum Classic is to keep the original centurytoday Ethereum" and "to provide an alternative to people who disagree with the salvation of The DAO".
Although many people think that Ethereum Classic — this is some bad joke, around the project has already developed a significant activity, and he received the support of a small but growing community of users in Reddit, and Slack. To buy or to sell "classic" air on a decentralized exchange Bitsquare. In addition, the miners controlling around 0.5% of the hash power of Ethereum before the partition joined a specially created pool of Ethereum Classic, to ensure the health of the "old" blockchain.
Arvicco, project coordinator Ethereum Classic, prefers to remain pseudonymous, because in Russia, where he lives, "the legal situation with cryptocurrencies uncertain and very changeable". He runs one of the largest Russian-speaking cryptocurrency portals BitNovosti.com whose staff also maintain a popular YouTube channel are co-producing movies, etc.
Bitcoin Magazine contacted arvicco to learn more about the Ethereum project Classic.
Arvicco, you Troll?
-No, I'm not a Troll. Although, I confess, I am sometimes harsh in their judgments and statements.
You are related to cracking The DAO?
No. I have no affiliation with the hacker, whoever he was.
Why you are so determined to maintain the Ethereum blockchain? Because of this, hacker can use the stolen funds!
First of all, I want to note that I am here alone. Developments in the Ethereum community were dissatisfied by many, but no one did nothing, and then the active miners, traders, developers and just cryptomnesia gathered around our website, decided that we needed to take the initiative in their own hands. Thus was born the idea of the project Ethereum Classic, and now we were joined by like-minded people from around the world.
We did not appear “out of nowhere”, and is well known in the Russian-speaking crypto-community. We have all the knowledge, skills and resources necessary to maintain the Ethereum Classic — as long as you need. I myself engaged in communications and media, and therefore visible more than others — at least in the English-speaking part of the crypto-world.
As for why we want to give the hacker the opportunity to spend stolen... It's an interesting question that occasionally POPs up in the bitcoin community and every time causes heated debates. For example, we know the bitcoin addresses of the darknet markets, which came to replace the Silk Road. Why not add them to the blacklist? Do not filter their transactions? Why not to freeze funds related to the hacking of MtGox or other well-known break-ins and thefts?
Many of us are radical supporters of decentralization. In short, we believe that the blockchain the system should follow three basic principles: they should be open, neutral, and unchanged. Without these properties, the blockchain becomes only too raspiarenny database. Which just seems to be something revolutionary, but in fact is not of interest as a technology and do not benefit society.
Returning stolen from The DAO money, Ethereum Foundation is guided by the noble, it would seem, aims to “save investors and restore confidence in the platform Ethereum”, but I'm afraid this is short-sighted. The salvation of The DAO is contrary to two of the three fundamental principles of decentralization, jeopardizing a long-term perspective of the entire Ethereum platform.
Many take the position that the incident with The DAO is an exceptional case, which can be attributed to the young age of Ethereum. Is the hard fork for the restoration of justice cannot be single?
Yes, many in the community somehow believe that compromise on principles is possible “only once”. Alas, it is unreal.
Blockchain or neutral or protected from censorship or not. Blockchain or constant and stores the one globally accepted version of history, one constant is the sequence of events — or not. Blockchain, which can change very little, only once and only through the democratic process,“ it's not a blockchain. Blockchain should not and cannot be protected from censorship, until someone very important will not lose a lot of money investors.“
You cannot be “a little pregnant”.
Once the precedent is created, influential users will not be difficult to organize the rescue of another project when — not “if” but “when”! — there will be another incident with smart contracts. In addition, after this episode, the censorship and confiscation of funds, even for the sake of “fighting crime” and “justice” third parties — courts, law enforcement or other government agencies — will be much easier to impose blockchain systems with their rules.
Where we draw the line, after crossing which the interference with the blockchain becomes acceptable — that is the main issue.
The Ethereum is a Protocol of consensus. If users are able to come to consensus about changes to the rules, nothing prevents them from doing so. Hell is where I will want users.
Yes, it is. Well, according to various estimates, from 20 to 40 percent of the participants in the Ethereum community are not in favor of hard fork, and there's lots of people with a principled position.
Majority in favor of the hard fork — democratic hard fork, if you will — with it nobody argues. But the majority opinion is easily manipulated in the interests those who own the money and power, so that such democracy is very far from ideal. It does not protect the basic rights of minorities. I could speak long on this subject, but I'll refer you to the writings of Hans-Herman Hoppe.
In short, the reproduction of the problems of democracy in Ethereum or any other blockchain is a bad idea.
And yet, such is the nature of this technology. If 60-80 percent of users in favor of hard fork, they have the right to hard fork.
Yes, users can select any rules you want to follow, even in Bitcoin. The only thing that still does not resolve the limitation of emissions of 21 million coins for Bitcoin, is the commitment of the bitcoin community's original principles.
People are free to choose their own community, and while specific community is faithful to the declared values, its participants have no reason for discontent. Anyone who shows interest in Bitcoin almost immediately finds out and on the limitation of emissions into it. Thus, by joining the bitcoin community, you tacitly supported this restriction. This implicit consensus is very reliable, and thanks to him the limit of 21 million bitcoins is maintained — no one there even thought to cancel it.
Apparently, the value of Ethereum from the start was not clearly expressed. Probably the founders of the project wanted to attract more supporters, and at the critical moment the community was not the guidelines which would allow him to understand “what is good and what is bad” in relation to possible actions in response to the crisis of The DAO.
In General, as stated on our web site
“We believe in decentralized baccani, are available to all and protected from censorship. We believe in the initial concept of Ethereum in Ethereum as a global computer running smart contracts without the ability to roll back or block their achievement. We believe in strict separation of duties and responsibilities, leaving place only for those forks that remove the real defects, but do not correct incorrect contracts or serve the interests of any privileged groups. We believe in censorship platform, capable of real conditions to prove that she can trust everything.”
Do you want to say that these principles are fundamentally different from the values of the Ethereum community as a whole?
No, but it seems that too many in this community are now concerned only opportunity to get rich quick, regardless of the consequences, — at one time such people were attracted to the community the rapid growth rate of the ether, and is, in my opinion, really hurt the project. It is difficult to convey to people the importance of the principles if they originally did not intend to burden themselves with the study of the history of cryptocurrencies, community goals and plans to achieve them, and chased quick ruble.
Maybe they just find the idea of “lifting” theft moral? And that it would be immoral not to take advantage of this opportunity?
How noble! And if they want to return to the rightful owners of all money ever stolen in the cryptocurrency world?
If you want, then who will decide which of the transactions on the blockchain is “stealing” and what is not? What kind of laws? Who will carry out the functions of the police, judges, jury? Would it be possible to appeal and, if so, how?
If you don't want, why? Why is the theft of funds from The DAO is treated in a special manner, and others remain without attention? Who need to drive fun and drink beer to expect special attention? If you return the stolen in one case, on what basis after you have created a precedent you're going to deny future plaintiffs?
If these problems are only the proverbial “consensus” or, rather, the democratic process, we are not satisfied.
See? Just a little digging into the problem, we stir the veritable hornet's nest, but all this is easily avoided if you stick to the principles. Yes, sometimes for the sake of the principles it is sometimes necessary to sacrifice something — sometimes even hasty investments in poorly tested and unsafe smart contracts.
So, I understand that you believe that the supporters of the hard fork went out of your way, or originally was not going to follow them. Is that so?
In my view, Ethereum Foundation lost its neutrality and began to serve the interests of particular groups. It is no secret that many of the people connected with The DAO, has invested a lot of money and have a close relationship with insiders of the Ethereum Foundation.
Immediately after the crisis erupted with The DAO, Stephan Tual (one of its founders) and the people associated with it began a political campaign for the salvation of The DAO at any price, although this is clearly contrary to the initially proclaimed the slogan “Code is law”, the principle of neutrality of Ethereum as the platform, etc.
The problem is that this campaign was very successful — partly due to the fact that many developers, traders, and just ordinary users of the Ethereum community is also invested in The DAO a lot of money.
Many bothered is another question. If a hacker breaking into The DAO, had an opportunity to dispose of the stolen funds, he could bring down the rate.
The price of any of the token reflects the balance of supply and demand. Yes, if the hacker decided to sell your coins, it likely would have resulted in a single sharp drop in the exchange rate.
I think that after the fork Ethereum Classic a lot more depreciation because many supporters of the fork will want to sell your coins. This is normal. Moreover, it is also the opportunity to purchase a classic air of cheap — to Express support for our vision of the platform to diversify the investment platform for smart contracts, or just to make money. The reasons may be very different.
Fluctuations occur constantly, so the markets find a fair valuation of assets. Oh and don't forget that they still attract investors and traders.
If the rate falls too much, the tokens are not valuable enough to motivate miners to send a hash of resources to protect the blockchain...
The difficulty is adjusted Ethereum pretty quickly. Now, a few hours after the fork, I think that we will achieve acceptable half-minute interval between blocks, the most for a day or two, but not weeks and certainly not months. After that about this issue will be forgotten.
Yes, the hash power of the Ethereum blockchain Classic is less secure than Ethereum — at least at first. But it will still have the best hasraton than 99% of the existing alithinou.
I don't think he is threatened. Why would anyone from miners to attack him? The motivation of the miners is that they are profitable just honestly doing their job, earning the “classic” broadcast.
Possible to attack Ethereum Classic want miners to support the hard fork that there is only a single blockchain Ethereum...
But unless they are not profitable reduce competition in the mining the ETH? They will get more.
Can the existence of Ethereum Classic any harm Ethereum?
I don't think. I've seen similar views, but much more people think that continued support of the original blackchina — a very good idea. If a minority with other views, wants to go its own way, what is the point to stop him?
Even some supporters to fork Ethereum Classic perceive as a kind of “insurance.” If the actions of Ethereum Foundation would lead to a major crisis, the presence of living alternatives which can be handy.
As you know, Ethereum plans to implement the technology “proof of possession” (PoS). If the hacker will have about 5% of ether, will this not lead to problems? Does this bother you?
I don't foresee any problems if the hacker will keep their coins during the transition to the “confirm ownership”. Acne Buterin also believes that it is not so bad.
If, as many think, a hacker will decide to sell their coins, any problems of this kind are generally excluded.
What can you say about the partition? Can I run it safely?
It is difficult to judge the implications of a hard fork. The developers of Ethereum Foundation is truly magnificent, but the code is hard-fork I had to write very quickly, so any problems are not excluded. Perhaps the network it was possible to separate “cleaner” to exclude attempted “attack recovery” (replay attack), in which transactions from one blockchain is transferred to another.
But there are strategies to prevent this attack. The easiest way is always to use for ETH and ETHC different keys (and even better, a variety of wallets/clients on separate computers). Do not use the same address on both platforms, that's all.
Yet for the sake of simplicity section, we are going to focus on issues that requires the least user intervention. Ethereum Foundation and other developers also interested in that section passed without any difficulty. Some of them help us.
You say that you support many users in the Russian bitcoin and other cryptocurrencies community. And the rest of the world?
In some respects classic air very interesting. In fact, this “side of the coin” (spinoff-coin) Ethereum. They have long been discussed theoretically, but more or less serious attempts to create them were not — I mean, it wasn't until Ethereum Classic!
Ethereum Classic from the moment the fork has received numerous user community, which consists of all current users of Ethereum. Some of them are able to make transactions on the blockchain will be protected from censorship, seems important, to some it will be indifferent, but obviously, this provides smart traders with interesting opportunities for arbitrage. To trade classic air will be (to start) on Bitsquare, so that the market, we can say that there is.
In addition, all the major stock exchanges of the air — Poloniex, Bitfinex and Kraken — are collected some time after the fork to charge the users of both new and classic ether (ETHC), meaning that all their clients get into their accounts live both. And as soon as the exchange is satisfied that Ethereum Classic viable and is not going to give up, the idea is that they will be allowed to trade existing accounts users ether.
And, of course, all applications for Ethereum will work in Ethereum Classic with 100% compatibility — or to do them would have no meaning. You can choose which platform is best suited to your DAPP – more widespread, or better protected from censorship.
What about the developers? As far as I know, none of the “well-deserved” developer of Ethereum does not wish to join Ethereum Classic...
Initially, our main priority will be to maintain full compatibility with Ethereum, so we won't have to worry about the development. We will be able to use the code from the repository Ethereum, with very little change. Resources that we have.
But, of course, if the current developers of Ethereum will want to join us, they will be accepted with open arms. Despite the fact that our paths diverged, we have one goal the same: creating a better future, in which a platform for smart contracts otkrout opportunities for truly global social and economic cooperation.
Would you eventually “win” the Ethereum? Whether Classic Ethereum and Ethereum peaceful and mutually beneficial co-exist?
I would not like to consider what is happening through the prism of confrontation. Although I am very critical of how the Fund Ethereum Foundation solved the problem with The DAO, and I think he made a serious mistake that worsened the prospects of the platform, I have great respect for most of the developers of Ethereum, Ethereum Foundation participants and the community as a whole.
I know that many developers are not too happy with this fork, but they did everything that depended on them: write code hard-fork and gave the community the right choice. Well, we took advantage of this right.
Ethereum Classic is not some Anti-Ethereum, as many are trying to introduce us. We are part of a wider ecosystem and Ethereum are going to make a worthy contribution to the development of the project, we just have a somewhat different hierarchy of values, which, we believe, corresponds better to the fundamental principles of the blockchain: openness, neutrality and immutability. We want to make the community and the ecosystem richer and not poorer, and we encourage the community to treat Ethereum Classic seriously.
Author: Aaron van Wirdum
