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Author Topic: [ANN] [ETC] Ethereum Classic: Immutable Smart Contracts  (Read 820547 times)
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CarloVetc
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October 31, 2016, 02:27:22 AM
 #4921

Hi everyone,

Just wanted to let you know that now that we have completed the last protocol update, focus has shifted towards other things like development and monetary policy. There is a lot of discussion going on currently in Slack and it would be great if you can join the conversation. I'll post an excerpt from one of the conversations below to spark some discussion possibly.

https://docs.google.com/document/d/1jVM3iN1ClVrDjZ4AcJRAQyn24B1NN6Y5_X5IpLrT9Ss/edit?usp=sharing
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October 31, 2016, 05:54:02 AM
 #4922

Hi everyone,

Just wanted to let you know that now that we have completed the last protocol update, focus has shifted towards other things like development and monetary policy. There is a lot of discussion going on currently in Slack and it would be great if you can join the conversation. I'll post an excerpt from one of the conversations below to spark some discussion possibly.

https://docs.google.com/document/d/1jVM3iN1ClVrDjZ4AcJRAQyn24B1NN6Y5_X5IpLrT9Ss/edit?usp=sharing

Are there any other better hybrid models other than using POW & POS?
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October 31, 2016, 03:55:43 PM
 #4923

Hi everyone,

Just wanted to let you know that now that we have completed the last protocol update, focus has shifted towards other things like development and monetary policy. There is a lot of discussion going on currently in Slack and it would be great if you can join the conversation. I'll post an excerpt from one of the conversations below to spark some discussion possibly.

https://docs.google.com/document/d/1jVM3iN1ClVrDjZ4AcJRAQyn24B1NN6Y5_X5IpLrT9Ss/edit?usp=sharing

Great news
Well i think ethereum classic begining has comunity except on slack and other forum, there is forum ethereumclassic.org, unfortunately members of forum are still small amount and still seldom users who make updating on there, personality i have made account on there.
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October 31, 2016, 04:17:29 PM
 #4924

https://medium.com/@yobanjo/ethereum-wont-scale-like-you-ve-been-told-cae445bef539#.r9ft3bdpe


Quote
Ethereum won’t scale like you’ve been told.
If you followed the Ethereum project over the last few years you might be familiar with the great amount of hype that comes with its community and founders. No matter if it’s app developers that claim to have a “Uber killer” or a presentation about “Decentralized Commercial Banking”… big claims are made as only the sky seems to be the limit.

Ethereum founder Vitalik Buterin gave a presentation called “The Mauve Revolution” where he talks about “tens of thousands of transactions per second” for Ethereum. If we dive some further into these claims it all comes down to the following:

Founder of Ethereum Vitalik Buterin claims he has found the ultimate solution to the problem of scalability haunting cryptocurrency networks. That will be made possible with lightning networks and sharding.

The current Bitcoin blockchain is limited to around 7 transactions per second and that number is around 15 for Ethereum. When talking about Ethereum, “transactions” aren’t the only thing that counts. Ethereum is a “decentralized computer” that runs contacts and transactions are only a small part of that. But even when we look at transactions only… the “tens of thousands of transactions per second” don’t add up. This is due to some limitation of “lightning networks”. Great that we have off-blockchain transactions but every coin in a “channel” will end up on the blockchain after all. Let’s say ALICE wants to give some Ether to BOB for a game. Why would they use a lightning network? It would only lock the Ether in some off-blockchain channel where Bob can’t do anything with it except for paying someone else. The same goes for the whole idea of a “decentralized computer” where you need Ether (gas) to run code. So all coins need to end up on the blockchain anyway. But even if we assume that 95% of all transactions take place off-blockchain? Would it match the “tens of thousands of transactions per second” for the system as a whole? The answer is no, let’s see why:

10.000 x 0.05 (5%) = 500 Tps which still take place on the blockchain.

And as we learned from Vitalik himself the current Ethereum implementation is only capable of doing 15 of them. So even with a very popular lightning network the Ethereum ecosystem goes up in smoke quite fast if the transaction volume goes up.

Time to look at the second part of the solution called “Sharding”. This idea comes close to a “multi-core” implementation on regular computer chips. Only in this case we work with a combination of several blockchains (sidechains) and EVMs (Ethereum Virtual Machines). In this article the following claim is made:

After the initial basic sharding (which will result in the implementation of Ethereum 2.0) Ethereum 3.0 will be developed — a blockchain system that will be capable of infinite sharding.

This one goes to eleven? Wrong! This one will have “infinite sharding”! That’s right: with enough EVM’s and sidechains Ethereum is capable of doing almost everything. Although this claim is again far from truth. Vitalik talks about a “main chain” to interact with several sidechains. Think of it like a Merkle tree-structure where the hashes of the lower blocks end up in the highest chain. This is completely different from your average Intel chip where calculations do happen in parallel. This is where the speed-improvement comes from. So can’t we run the EVMs in parallel then? No, this is extremely hard to sync as each sidechain has it’s own miners. 1 chain might have a valid block in 4 seconds while the other one takes up to 65 seconds. Just like the current network with only 1 blockchain:

Time delays will prevent Ethereum from infinite sharding.

And even if we could add 100 sidechains in parallel with a guaranteed blocktime we’re still in trouble with the 10K transactions per second. It means we have 100 Tps per chain (assuming even distribution). That’s far more than the 15 Tps which are possible at Ethereum’s current implementation. And notice that I’m talking about transactions here, not about calculations.

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November 01, 2016, 07:54:56 AM
 #4925

The price is dropping agreed, the speculators too have let, it is time to see fundamentals drive the price up, I was told there are alot of  work being done underground, it now we can proof we care about this project. FUD will not help

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November 01, 2016, 07:56:07 AM
 #4926

silent die???
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November 01, 2016, 09:29:03 AM
 #4927

ETC now at $0.87... and I'm predicting that it's the very right time to either mine or buy it.
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November 02, 2016, 07:43:57 AM
 #4928

more anonymity for better fungibility and a limited suply would be more important then switching to pos. at the moment. we are fine with pow. and time isnt ready for pos. enduser phones and pc and tablets arent ready.

for now the coin needs to gain market cap and stabelice trust.
 
limit amount of coins.( investors will like this)

no hf every month. Hf are only done if it pass the rules implemented in code.(exchanges will apriciate that also its a way to make techinqual updates easier)

a new coded wallet. (good for devs and will show them what is hidden in the eth code like the diff bomb for example)

funds for devs.  (% of fees?)

just puting this thought our for dicussion




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November 02, 2016, 08:47:36 AM
 #4929

silent die???

Absolutely! ETC is dying a slow agonizing death. R.I.P.

Why mine when you can research? - GRIDCOIN - REAL cryptocurrency without wasting hashes! https://gridcoin.us
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November 02, 2016, 09:07:54 AM
 #4930

ETC will probably be revived if ETH hardforks to PoS or before
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November 02, 2016, 09:52:11 AM
 #4931

Hi everyone,

Just wanted to let you know that now that we have completed the last protocol update, focus has shifted towards other things like development and monetary policy. There is a lot of discussion going on currently in Slack and it would be great if you can join the conversation. I'll post an excerpt from one of the conversations below to spark some discussion possibly.

https://docs.google.com/document/d/1jVM3iN1ClVrDjZ4AcJRAQyn24B1NN6Y5_X5IpLrT9Ss/edit?usp=sharing

Are there any other better hybrid models other than using POW & POS?

Well, it's still based on POW/POS, but how about Theymos' 3-way Hybrid idea (or a variation thereof):

https://bitcointalk.org/index.php?topic=1654457.msg16610019#msg16610019
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November 02, 2016, 01:58:22 PM
 #4932

This is a great time to buy or mine ETC. I can remember looking back at ETHf before the fork when it was at $0.87 and thinking "Look at that bloated piece of crap, price is inflated way over what it should be."

Well...

 
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November 02, 2016, 03:13:36 PM
 #4933

Great interview with Charles featuring discussion about ETC and blockchain in general.

CryptoHolics Ep.01 : https://www.youtube.com/watch?v=OLsMIf3sUnc

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November 02, 2016, 03:22:10 PM
 #4934

where is the ETC immutability? hardforked?  Huh Tongue

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November 03, 2016, 02:08:09 AM
 #4935

The only thing dying is ethf

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November 03, 2016, 06:06:40 PM
 #4936

ETC Newsletter : 10-24-16 to 11-1-16

http://us14.campaign-archive2.com/?u=1e7b1574ce5b6f380df5f8510&id=d63d6af632
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November 03, 2016, 06:18:44 PM
 #4937



Wow ..great news for ETC

ETC is currently around 15 times lower price than ETH

I hope we reach parity soon

Chinese whales are looking to buy huge amounts maybe

GO GO ETC
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November 04, 2016, 04:27:16 AM
 #4938

BTC USD trading platform will be on-line ETC! Is this true?

http://btc12.com/thread-349.htm

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November 04, 2016, 05:33:33 AM
 #4939

Don't know, but I must say that ETC has managed to remain standing despite the hard dumps in recent times.

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November 04, 2016, 08:14:36 AM
 #4940

Don't know, but I must say that ETC has managed to remain standing despite the hard dumps in recent times.

There is not big dumps in the recent times relative to the Ethereum. They both drop together with other coins.

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