Ethereum Classic’s Proclaimation of Independence from Censorship and Interference
Ethereum Classic's declaration of independence from Ethereum airs its grievance against ETH while listing its Code of Principles. Ethereum Classic, an offshoot of Ethereum that continues to carry on with the Ethereum legacy blockchain has published its own version of the “declaration of independence” from Ethereum. In the document, Ethereum Classic which came into existence on July 20, 2016, following the implementation of Ethereum hard fork states its plans for the future and the principles to which it will adhere to. Ethereum Classic represents the community that objected Ethereum’s....
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Ethereum Classic is preparing another hard fork. It was announced in statements published last week that the project’s development and mining community is committing to a change in its monetary policy by December of this year. Essentially a move to a new protocol, all current Ethereum Classic users and miners should have upgraded their software by then. If everyone does not upgrade their software, the project can split into two incompatible networks, blockchains and currencies. Of course, that is exactly how Ethereum Classic itself broke away from the Ethereum Foundation’s Ethereum last....
Ethereum Classic lost more than 10% of its value today with price standing just above $1 as the network comes under sustained dos attack. The attacks are similar to those experienced by Ethereum over last month. A programmer is exploiting gas mispricing for certain op codes to drain nodes of memory and other resources thus slowing them down. Who or why is a matter of speculation. For ETC, considering the dramatic price movement, it could well be financially motivated and might not even be the original attacker, but a copycat. Ethereum Classic’s Price Crashes as Network Comes Under Dos....
Yes/No to Scottish Independence? Scotland has recently been trying to gain its independence from the United Kingdom once again. Throughout the last thousand years there have been a few times that Scotland has tried to gain its independence. In the early 13th Century the Scottish nobility were in dispute after Alexander III, the then King of Scotland, died young without leaving an heir as his three children had died within a short period of years previous to his own death. King Edward I of England was invited by the nobility to help decide upon a new king. However, Edward betrayed the Scots....
Social slashing and even a user-activated soft fork have been suggested as possible responses to the threat of transaction censorship on Ethereum. The Ethereum community has been divided over how to best respond to the threat of protocol-level transaction censorship in the wake of the United States government sanctions on Tornado Cash-linked addresses. Over the last week, Ethereum community members have proposed social slashing or even a user-activated soft fork (UASF) as possible responses to transaction-level censorship on Ethereum, with some calling it a “trap” that will do more harm....
Vitalik Buterin, the co-founder of Ethereum, frowns deeply on the possibility of Ethereum censorship by the US Treasury Department’s Office of Foreign Assets Control (OFAC). He maintained that such an action amounts to an attack on the network. Hence, it could bring results in different dimensions. Buterin disclosed his stance concerning this in a tweet. […]