Program Director at ETC Labs named ‘Elizabeth Kukka,’ in a recent interview with Medium explainedthe existing working progress of Ethereum Classic [ETC]Incubator [ETC Labs]. Since after its launch on 1stOct this year, ETC Labs has, according to her, created a quitebuzz asthere isbeen a “lot of interest and inquiriesregardingthe program,”thatis aboutto launchwithin thefirst halfof the next year i.e 2019.
ETC Labs ispresentlyin its pilot program, testing outto examinehow the incubator works. She explainedthe advantagesofoperatingwith theirincubatoras:
“Pilot projectsget freeoperatingspace,nicecoffee..,and therefore thechanceto figureaboarda number ofthe simplestmindswithin thebusiness.They’lleven havethe chanceto pitch theirideasto acontainerful of investors at our launch event on 25th Oct.The goal of this pilot program isto placetheincubator modelto figureand acquirefeedback from these initialgroupsbefore going live.”
Once these sixcorporationspassvia the pilot program, ETC Labswould beaddingadditionalprojectsto their team. The official launch of ETC Labsis expectedwithin thefirst quarterof 2019.AlthoughETC Labssimply launched its new project but there’s beenlargeinterestwithin thecrypto community regarding the incubator.In line withElizabeth, “we have been receiving aroundhundreds ofapplicationssince sofar!” That’sa bigno., considering that “weconceive to support around 20 –24startupsper annum.”
This is notthe primaryblockchainincubatorto be launched this year. Even in May, the crypto exchange ‘Huobi’proclaimedthatit mightbe launching a blockchainincubator. In August, Binance followed suit andproclaimedBinance 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 smartcontract exploitation thathackedimmeasurable Ethereum[ETH] tokens.Oncethe hack was discovered, the Ethereum communitycommandeda vote andsetto roll back the chain andreturnthe hacked coins. The Ethereum Classic [ETC] communitysettohardfork and keep the chain as-is:stolencoinsalong with everything. Ethereum Classic [ETC] has all of thefeaturesof Ethereum [ETH],howeverwitha verycompletely differentdeveloper community.