Ethereum Classic Dev Team (ETCDEV) Shuts Down

[eternalgloom]

The crypto industry has the urge to purge amid the prolonged bear market. The latest victim is ETCDEV, a major Ethereum Classic development team that launched in 2016.

Igor Artamonov, the founder and chief technology officer of ETCDEV, announced that the group is shutting down due to lack of funds.

“As is publicly known, we have struggled with funding our operation in the last few weeks,” Artamonov wrote on Twitter.” This was partially due to the market crash, combined with a cash crunch in the company.”

Source: https://www.ccn.com/crypto-downturn-claims-another-victim-ethereum-classic-dev-team-etcdev-shuts-down/

Well, this is definitely going to be a serious blow to the development on Ethereum Classic.
I suspect that it'll grow a lot slower, now that development is fully in the hands of the community.

And again the reasons given are 'lack of funds due to bear market'.

I would think that these companies would build some sort of a war-chest for times like these. I mean everybody knows that bear markets are bound to happen some day.

[Leenwar]

I think ETC has one of the best technology ideas for blockchain but if they can't afford to pay the team to continue writing code, the project will die.

[butka]

Damn, why these things happen to good projects and solid team? Let's hope that the ETC community will manage to survive and that ETC will come out of this stronger. There are countless questionable alts out there (most of them are worth next to nothing), and I really hope that they they will be the ones to be wiped out by this bear market.

[Piskeante]

ETC WILL NOT SURVIVE. 99% of all altcoin will die in next months.


This bear market, created for and by manipulators will destroy the hen with golden eggs. Traders are in only for profit. They will not give a fuck if 99% of coins die.

This IS WHY THIS MARKET SHOULD DIE.

[eternalgloom]

Damn, why these things happen to good projects and solid team? Let's hope that the ETC community will manage to survive and that ETC will come out of this stronger. There are countless questionable alts out there (most of them are worth next to nothing), and I really hope that they they will be the ones to be wiped out by this bear market.

Yeah, I quite like ETC actually. After the whole DAO incident, they chose to take the hard route and stuck with it.
They're actually not doing that bad in this bear market and I would be sad if they disappeared.

That said, I have some inside information that they're working on getting a new team together.
The keynote speaker of the ETC conference in Hong Kong, Meredith l. Patterson is looking to join the development team.

https://www.youtube.com/watch?v=rqqdFufARXA

They're looking on completely changing the project in a way that I didn't think was possible.
Basically incorporating Langsec principles into the project.

Langsec (Language-theoretic Security): http://langsec.org/

[Greed Dev]

That was the news that made ETH price fall from $ 500 to $ 95. a sad year for the ETH fans. I do not invest in ETH but I feel ETH seems to be manipulated by so many different businesses. I can not believe it. The new XRP is really a giant that needs attention!

[arpon11]

The crypto industry has the urge to purge amid the prolonged bear market. The latest victim is ETCDEV, a major Ethereum Classic development team that launched in 2016.

Igor Artamonov, the founder and chief technology officer of ETCDEV, announced that the group is shutting down due to lack of funds.

“As is publicly known, we have struggled with funding our operation in the last few weeks,” Artamonov wrote on Twitter.” This was partially due to the market crash, combined with a cash crunch in the company.”

Source: https://www.ccn.com/crypto-downturn-claims-another-victim-ethereum-classic-dev-team-etcdev-shuts-down/

Well, this is definitely going to be a serious blow to the development on Ethereum Classic.
I suspect that it'll grow a lot slower, now that development is fully in the hands of the community.

And again the reasons given are 'lack of funds due to bear market'.

I would think that these companies would build some sort of a war-chest for times like these. I mean everybody knows that bear markets are bound to happen some day.

This is very serious and if the whole almighty ethereum classic is shut down then I don't think we have hope for many of those under perform coins.  Many of the altcoins especially the one that has strong foundation has lose over 90% of it last year December value and the market keep falling and that is why we are lose very serious hope on them.  Investing into the market is scaring and that makes most of the projects that need fund not having enough fund to prosecute the projects and many of the running icos are not having enough fund to prosecute there projects.

[eternalgloom]

That was the news that made ETH price fall from $ 500 to $ 95. a sad year for the ETH fans. I do not invest in ETH but I feel ETH seems to be manipulated by so many different businesses. I can not believe it. The new XRP is really a giant that needs attention!

What the hell are you talking about??? This is about ETC aka Ethereum Classic, not ETH

This is very serious and if the whole almighty ethereum classic is shut down then I don't think we have hope for many of those under perform coins.  Many of the altcoins especially the one that has strong foundation has lose over 90% of it last year December value and the market keep falling and that is why we are lose very serious hope on them.  Investing into the market is scaring and that makes most of the projects that need fund not having enough fund to prosecute the projects and many of the running icos are not having enough fund to prosecute there projects.

Haven't you read the reply I've posted just now? I literally just said that they're putting together a new team...
This is definitely not the end of ETC.

Besides, even if all the paid development teams quit, I'm sure that the community would just keep developing, albeit at a slower pace.

[teilwalL05]

We can not blame them right now that all in the market are going down a lack of funds in their side means there is no need to continue any further but Artamonov is doing several attempts in finding alternative sources to keep this Altcoin alive, And I think we can further see if this coin would further take another flight in the future after the massive sell-off occur in its side, But we can not further say that this is really the end for a certain coin if there are people that are still behind the scene doing something about it.

[cryptokingdom]

Damn, why these things happen to good projects and solid team? Let's hope that the ETC community will manage to survive and that ETC will come out of this stronger. There are countless questionable alts out there (most of them are worth next to nothing), and I really hope that they they will be the ones to be wiped out by this bear market.

Ethereum classic is the same thing like those altcoins you said they are next to nothing, I am nothing seeing anything special about Ethereum classic, what is that special thing ethereum classic is contributing to the blockchain ecosystem?  If the mighty like NEO, EOS and ETHEREUM are struggling what do you think will happen to ethereum classic.

[Bttzed03]

That was the news that made ETH price fall from $ 500 to $ 95. a sad year for the ETH fans. I do not invest in ETH but I feel ETH seems to be manipulated by so many different businesses. I can not believe it. The new XRP is really a giant that needs attention!

Lol what?


This just shows how brutal the market can be even to strong projects like ETC.
It will be interesting to see what the new team will do to ETC. Waiting for further announcement.

[cizatext]

The crash in the price of cryptocurrency market have set a lot of set back for promising project if a project such as the ethereum classic can park reason being lack of found to continue to run the project, it now left in the Hans of the community and I don't think it will survive for long because of the team. But since we all know that the cryptocurrency market is always volatile project team should also know that crash will happen because it part of the market and make adequate provision on how to survive when that happen. I don't think folding up is an answer.

[jacafbiz]

I personally don't think there is any justification for them to still exist as a body, what have they done since the DEV was constituted, I think for now we need to start asking ourselves some sincere questions, with the look of things ETC will end up the way of most forks that fine it very hard to sustain the competition

[bitcoindusts]

That was the news that made ETH price fall from $ 500 to $ 95. a sad year for the ETH fans. I do not invest in ETH but I feel ETH seems to be manipulated by so many different businesses. I can not believe it. The new XRP is really a giant that needs attention!

What the hell are you talking about??? This is about ETC aka Ethereum Classic, not ETH

This is very serious and if the whole almighty ethereum classic is shut down then I don't think we have hope for many of those under perform coins.  Many of the altcoins especially the one that has strong foundation has lose over 90% of it last year December value and the market keep falling and that is why we are lose very serious hope on them.  Investing into the market is scaring and that makes most of the projects that need fund not having enough fund to prosecute the projects and many of the running icos are not having enough fund to prosecute there projects.

Haven't you read the reply I've posted just now? I literally just said that they're putting together a new team...
This is definitely not the end of ETC.

Besides, even if all the paid development teams quit, I'm sure that the community would just keep developing, albeit at a slower pace.

In addition there are other team aside from ETCDEV that is involved in development of  ETC. I think there are two more if I am not mistaken.   It would be great if they form another team again so making it 3 major groups of developer helping hands in hands for the development of ETC.

[arditiyan]

I think the market conditions like this will give the altcoin a separate test to survive, and this is good for cleaning up shitcoin that appears on the market which can damage prices, but unfortunately the etcdev is affected