Hard fork Ethereum – Ethereum Classic Vision – 11.01.19
ETHEREUM CLASSIC VISION
Ethereum Classic Vision could be an exhausting fork of Ethereum that leverages the simplest of each world’s – true decentralization of Ethereum Classic and latest protocols developed for ETH, like PoS mining and sharding. With its Brobdingnagian scaling potential, high speed, and nice rewards for miners, Ethereum Classic Vision is that the final answer to the present challenges of the market. throughout the approaching exhausting fork on Jan eleven, 2019, all Ethereum holders can receive three ETCV for every ETH in their personal wallets.
ETHEREUM CLASSIC VISION offers bold and effective solutions to the crisis in the blockchain industry . Ethereum , the world’s leading platform for developing and building block applications, is currently in a deep crisis. Many solutions have been proposed, but none of them has been implemented so far – and the current course of Ethereum management does not inspire much optimism in the future. Solving existing problems will take years, and the solutions themselves may lead to even more problems in the future.
ETHEREUM CLASSIC VISION is a new cryptocurrency that intends to bridge this gap between expectations and reality. Being a hard-fork of Ethereum , the system will use the most advanced solutions offered for the world’s second largest digital currency, while still maintaining the ideal of decentralization. The project will combine technologies such as sharding , P2P asset sharing , dApp development tools, and decentralized file storage using IPFS . Starting with a PoW- based system , it will later offer stable rewards for validator transactions through the introduction of Proof-of-Stake.while at the same time creating an optimal environment for creating new assets.
ETHEREUM CLASSIC VISION is an advanced, fast, easy-to-scale and highly decentralized system, and Proof-of-Stake clearly does not meet these goals. Thus, after the initial period when the platform will use PoW , it will switch to PoS . Unlike Ethereum , which is likely to go through a long phase of partial testing (with testing one block out of 100 using PoS ), ETHEREUM CLASSIC VISIONperform a more decisive and confident transition. The team firmly believes that the introduction of a revolutionary update in a very limited form can only destabilize the network, prolong problems, create differences and ultimately make a complete transition impossible.
The goal of ETHEREUM CLASSIC VISION is to solve the main problems facing Ethereum , including scaling, mining inefficiency and high cost of data storage. The transition to Proof-of-Stake is a key element of this plan, but a number of additional modules and functions will also play an important role.
Tokens of ETCV will be distributed free of charge among the owners of ETH January 11, 2019. Over the next few months, ETCV will be included in the number of large cryptocurrency exchanges (currently the project team is negotiating with several of them) and will be launched in its dApp development environment , where blockchain startups will be able to create and deploy new services, adding their assets to created P2P exchange – Vision DEX .
This makes a long excess of exchanges anticipating affirmation and can on occasion slow down the entire framework, as it occurred in December 2017 at the tallness of the Cryptokitties furor. The scaling issue isn’t a surprising improvement – it is a consistent outcome of the plain structure of the system. A perfect blockchain framework ought to have three properties: security, scaling, and decentralization. In all actuality, arranges regularly have just two of these: for example, Ethereum Classic is legitimately decentralized and secure, however, it doesn’t scale. On the other hand, Cardano is both quick (that is, it scales well) and secure, yet it is incorporated. As clarified above, moderate speeds on Ethereum are caused by the accord calculation, which requires the larger part of hubs in the system to support every exchange. This must be done in succession – one task after another, implying that exchanges can’t be parallelized.
Ethereum an exceptional reference
To execute sharding, Ethereum Classic Vision will present an exceptional reference point sidechain that will work as a wellspring of pseudorandomness while choosing validators for every shard. A sharded framework is increasingly defenseless against assaults since it possibly takes just 1/n of the hashrate to trade off an entire shard. The way to securing the Ethereum Classic Vision arrange against such assaults is to guarantee that validators are chosen pseudorandomly and that they can’t know ahead of time which shard they will be doled out to. The guide chain will likewise contain data about the present condition of every shard, going about as an associating join between them. However, the sidechain independent from anyone else shapes a different Merkle tree and does not go about as a piece of the Ethereum Classic Vision blockchain.
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