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RE: Why I’m selling my Ethereum Classic and buying …. Steem

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Why I’m selling my Ethereum Classic and buying …. Steem

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loewan (44) in steemit • 8 years ago

So correct me if I am wrong but I am under the impression that ETH is open source and that any changes it makes are open to all to see. Ultimately, any improvements done to that can, in theory, be applied to ETC.

Technically, ETC will also have the same team of developers behind it. The only difference is that the developers will not have the ability to perform a bailout on their vested interests.

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8 years ago by loewan (44)

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dmozzy (25) · 8 years ago (edited)

I think you are correct. However over time I see the 2 chains diverging in that:

Only some of the patches will be merged from ETH to ETC. (Ones that agree with the manifesto)
Any patches that are merged across may have to be modified, fixed and tested if they require some code from a previous patch that didn't meet the manifesto
Will people develop Dapps considering the ETC chain? Will the ETC chain have to manually merge any popular Dapps into their blockchain?

In short I don't believe that its going to be a trivial task to keep ETC up to date with changes from ETH. Even if ETC is updated to be equivalent, its still going to lag ETH.

This is assuming that most development and Dapps occurs on the ETH chain and not the ETC chain.

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gab (25) · 8 years ago

Well you have to consider stuff like DigixDAO and Digix gold coin tokens. Digix openly said they do not support etc, effectively cancelling the project over the etc chain.

Some etc people say you can simply git clone projects and just change a few variables to make it work on the etc chain. While that may work for some projects, others simply can't support being on two chains. Digix, for example, offers two coins. One, the DigixDAO, is similar to a share of their company and earns rewards that are the actual transaction fees of their second coin. This second coin represents 1g of pure gold bullion stored in a vault in Singapore.

Both of these coins are impossible to use on etc because:
A: You can't git clone a gram of gold
B: DigixDAO rewards trading fees of that gold coin token to investors. You can't double the amount of "shares" in a company without halving or seriously affecting their value.

So long story short, I don't believe saying ETC will have the same team of developers behind it is technically correct as I expect more token projects and other stuff we haven't thought of yet to be hosted on the eth chain only. Dapps developpers matter just as much as eth developers, if not more.

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