Program Director at ETC Labs named ‘Elizabeth Kukka,’ in a recent interview with Medium explained the existing working progress of Ethereum Classic [ETC] Incubator [ETC Labs]. Since after its launch on 1st Oct this year, ETC Labs has, according to her, created a quite buzz as there is been a “lot of interest and inquiries regarding the program,” that is about to launch within the first half of the next year i.e 2019.
ETC Labs is presently in its pilot program, testing out to examine how the incubator works. She explained the advantages of operating with their incubator as:
“Pilot projects get free operating space, nice coffee.., and therefore the chance to figure aboard a number of the simplest minds within the business. They’ll even have the chance to pitch their ideas to a containerful of investors at our launch event on 25th Oct.The goal of this pilot program is to place the incubator model to figure and acquire feedback from these initial groups before going live.”
Once these six corporations pass via the pilot program, ETC Labs would be adding additional projects to their team. The official launch of ETC Labs is expected within the first quarter of 2019. Although ETC Labs simply launched its new project but there’s been large interest within the crypto community regarding the incubator. In line with Elizabeth, “we have been receiving around hundreds of applications since so far!” That’s a big no., considering that “we conceive to support around 20 – 24 startups per annum.”
This is not the primary blockchain incubator to be launched this year. Even in May, the crypto exchange ‘Huobi’ proclaimed that it might be launching a blockchain incubator. In August, Binance followed suit and proclaimed Binance Labs.
What Actually Is Ethereum Classic [ETC]
Ethereum Classic [ETC] is the original split of the Ethereum blockchain. In 2016, Ethereum was victim to “The DAO” hack – a smart contract exploitation that hacked immeasurable Ethereum [ETH] tokens. Once the hack was discovered, the Ethereum community commanded a vote and set to roll back the chain and return the hacked coins. The Ethereum Classic [ETC] community set to hard fork and keep the chain as-is: stolen coins along with everything. Ethereum Classic [ETC] has all of the features of Ethereum [ETH], however with a very completely different developer community.