In line with a recent official ‘announcement‘ published, A developer at blockchain Tech company ConsenSys named ‘Bob Summerwill’ has joined the Ethereum Classic [ETC] Cooperative as its chief executive director.
The Ethereum Classic [ETC] Cooperative manages the development and expansion of the Ethereum Classic [ETC] cryptocurrency’s protocol. ETC was formed after the hard fork of Ethereum [ETH] earlier in 2016, arising out of differences into a way to respond to the high-profile DAO hack of the Ethereum [ETH] Blockchain.
In line with the announcement, Summerwill would develop relationships that facilitate the mission of the organization and grow ETC’s development and community. Summerwill is also expected to support ongoing ETC initiatives like peaceBridge, a bridge that transfers ETH and ETC between 2 networks; and Kotti, an arriving proof-of-authority ‘testnet‘. Summerwill himself added:
“I would love to heal the wounds of the past, and assist everyone get past this zero sum thinking. i’d like the ETC community to be seen as it really is, a strong principled cluster of individuals who develop helpful technology, instead of an ideologically driven cluster of zealots with no technical expansion.”
Just earlier this month, Ethereum Classic [ETC] developers ‘stated‘ that a mining pool claiming over ‘50%‘ of the network’s hashrate was “most actually selfish mining.” The devs expressly declared that the antecedently noted ‘hashrate‘ consolidation wasn’t a 51% attack, and that acknowledged double spends weren’t detected.
Renowned American crypto exchange named ‘Coinbase’, while in an official ‘web-blog post‘ stated that it “detected a deep chain reorganization of the Ethereum Classic [ETC] blockchain that enclosed a double spend” on 5th Jan. Coinbase temporarily halted deposits and withdrawals of ETC.
Ethereum Classic [ETC] is presently the seventeenth largest cryptocurrency by market capitalisation. At the reporting time, ETC is presently trading at a price around ‘$3.89 USD‘, down 2.47% on the day.