ETHEREUM CLASSIC VISION: SOLUTIONS TO ETEHREUM PROBLEMS
The open source public blockchain-based distributed computing platform and operating system was once an innovative product to help developers create functional blockchain applications. This was without a middleman or counterparty risk. However, as the cryptocurrency market grows, currently with 1,926 different cryptocurrencies available for trading on 13.731 exchanges worldwide. More blockchain networks are disputing what once the etherum territory was. Flaws in Ethereum have been found which includes lack of dApp mainstream adoption. Another problem associated with Ethereum is mining centralization. Nevertheless, the problems associated with Ethereum at present is scaling, mining inefficiency and high costs of data storage. Etherum is slow and this is caused by consensus algorithm which requires the majority of nodes in the network to approve each transaction. When one talks about the challenge ethereum is facing, scaling is the most urgent challenge which is currently faced with little or no solutions thus far. No doubts, there have been practically different networks erupting but hasn’t been able to give solutions to these problem, however one must know that the inability a network having features such as scaling, security, mining inefficiency, centralization and high costs of data storage threatens the entire development of that network in possible future. Yes! It’s that important. The most important features in blockchain must include, scaling, decentralization and security and its upon this the ETCV platform was created bringing in solutions for the benefits and satisfaction of man.
Ethereum Classic vision is a fast, easy-to-scale and highly decentralized system.One features that distinguishes it from ethereum is that it executes a more decisive and confident transition unlike Ethereum which goes through a lengthy partial stage. One features of Ethereum Classic Vision is the Proof-of-stake, an approach which has been created to by ETCV to solving the mining centralization problem by abolishing mining entirely thereby enabling users to stake a significant number of coins initially freezing them so as to prevent it from been spent so as to be chosen as block validators with a great reward attached to it. Ethereum Classic Vision provides an alternative environment for blockchain startups which introduces its own sub platform for developing new decentralized applications with a range of tools and modules for free and for a fee in ETCV. Users are given the benefits of living an easy and fast way of transacting with the solution to the problem of sharding and slow speed with the introduction of special beacon side chain which functions as a source of pesudorandomness when selecting validators for each shard.
AIMS OF ETHEREUM CLASSIC VISION
Ethereum Classic Vision aim is one which is set out to solve the problems associated with Ethereum.
UNIQUE VISIONS OF ETHEREUM CLASSIC VISION
Its vision is to create a truly decentralized, trustless economy that can serve as a base for a wider adoption of Cryptocurrency payments and real life applications of blockchain
UNIQUE BENEFITS OF ETHEREUM CLASSIC VISION
· ETVC is totally efficient giving users a good usage of their time while trading or exchanging
· The features of Proof-of-stake also involves fair distribution of rewards
· Ethereum is beneficial because it’s decentralized thereby eliminating the centralization and dependence in distribution of funds. It gives a way to conduct market operations without relying on centralized exchanges
· Because of the its secured nature makes it different from the rest. Assets of users are totally secured from hackers and fraud. With its smart contract, activities done and secured be it order matching or handling order books
· the exchange of Ethereum Classic Vision is built on the principle of neutrality giving users the benefit of storing not only ETCV but also ETH, ETC, ERC20 tokens, BTC, BCH, XLM and many others
· VisionDEX can be used as a fundraising platform for blockchain startups and to conduct initial token offerings
ROAD MAP OF ETHEREUM CLASSIC VISION
ETH hard fork ideation & development; formation of the team; nego with and signing up first advisors
Snapshot of the ETH network & distribution of Ethereum classic coins
Introduction of the dApps platform (initially with new dApps residing mainchain and support for migration from Ethereum and Ethereum classic virtual machines): establishment of key technological partnerships; listing ethereum classic vision at a number of major digital exchanges; testing the P2P exchange module
VisionDEX; Security audit of VisionDEX smart contacts; expanding the team and adding more developers; launch of a large scale marketing campaign.
Implementation of the P2P decentralized exchange module; onboarding of an advisory board specializing in sharding and decentralized storage technology; work on the sharding protocol; development of the decentralized storage system based on IPFS; testing the Pos consensus protocol; roadshow covering maor coding events and hackathons in Europe and Asia
Switch to the Pos consensus protocol; integration of the dApp platform with VisionDEX; sharding implementation; testing of the file storage module and the associated rewards system; attracting advisors from the field of the zero-code movement
IPFS integration with rewards for storage space providers, launch of a marketing campaign for the storage system; establishing partnerships with blockchain foundations in North America and East Asia; expanding the number of digital exchanges where Ethereum Classic Vision is listed
Btea testing of additional features for VisionDex (margin lending, limit orders, etc)
Integration of new exchange features: stop –loss, limit orders, margin trading; implementation of a sidechain development kit for the dApp platform
Implementation of cryptocurrency derivatives trading; introduction of a migration tool for dApps developed outside of EVM (NEO, EOS, Lisk, Stratis)
Integration of a zero-code, drag and drop dApp development module
One can see that the problems of Ethereum has already been solved by ETCV. Its benefits as already mentioned above are to satisfy users. I will imploy every one to be part and parcel of this project for its awesome benefits and many more to come. For more information, please kindly visit us in any if the links provided below. see you at the other side!
Written by: Ogtejiri
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