Beyond Immutability: Ethereum Classic Maps a Way Forward

“We think we’re the real ethereum.”

In a recent talk at CoinDesk’s developer-only conference Construct, developer Elaine Ou outlined how ethereum classic differs from ethereum, the blockchain that split from its original developers over an ideological disagreement last year.

While ridiculed as a ‘protest chain’ for its original commitment to ‘immutability’ (or the idea that one entity or group shouldn’t have the power to change the blockchain’s transaction history), one of the more interesting elements of Ou’s talk was her claim that ethereum classic has been forging ahead by differentiating itself from ethereum in other key technical ways.

Now, the group is moving forward with one pillar of differentiation: monetary policy.

In a statement released on Wednesday, various interest groups supporting ethereum classic announced their support for a proposed monetary policy, or set of rules governing how the protocol’s digital tokens (ETC) are dispersed.

Included are provisions that the total supply of the blockchain’s token will not exceed 230m ETC and a plan to scale down the rewards paid to parties that secure the blockchain.

Notable signatories include IOHK CEO and former ethereum CEO Charles Hoskinson and Barry Silbert, the founder and CEO of investment conglomerate Digital Currency Group

Read more ... source: CoinDesk

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