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Cardano [ADA]’s CEO talks about IOHK’s role in supporting ETC development

Anoushka Shrestha



Cardano [ADA]'s Charles Hoskinson talks about IOHK's role in supporting ETC Development
Source: Unsplash

On 7th July, Charles Hoskinson took to YouTube to address IOHK and the role that it will continue to play in supporting ETC’s development. He said:

“I got involved in Ethereum Classic to prove that principles matter and it is not okay to reverse, and that people need to have the option that if they believe in what Vitalik has done, they can keep with Ethereum and if they believe that the original intent should be maintained, they can sell their Ether and stay with the Ethereum Classic ecosystem. And basically, people should be given a proper choice, not a rushed choice.”

Charles Hoskinson shared that the Ethereum Classic community did not start off with much credibility initially owing to the majority of the infrastructure developers transferring to Ethereum.

Hence, it was important to restart and invest money in building from the ground up with a completely new client. Cardano then started from scratch and brought together a team of Scala developers. This team spent a whole year in constructing what is now the most concise Ethereum client ever with only about 12,000 lines of code that has great coverage, functions really fast, built to be very user-friendly and is security audited.

Hoskinson stated that while there have been attempts to create some capital aggregation, it has not been materialized yet in a way that would be productive for everybody. He is, however, confident that they are getting there.

Hoskinson also mentioned that there would be a summit in the month of September where he will be presenting the latest version of mantas that will have built-in Ethereum support. They will target Ethereum Classic, Ethereum and the ERC20 wallet.

As this will be a full node, the entire Ethereum network should essentially be able to run just based on that code.

He also stated that the summit will include discussions about plans for 2019 and what it should look like in terms of whether to scale up or stay on the same level, or whether to gradually scale down and leave it to the community to manage the codes that have been written.

“I think it is overall mission accomplished. Most people respect Ethereum Classic at this point. If anything, just for its principles. Most of the fights of the past have been resolved, and even Vitalik himself actually holds some Ether Classic and a lot of people that left the Ethereum ecosystem turns out never sold their Ether Classic, they kept it.”

Hoskinson further stated that they would most likely stay on proof-of-work and discuss innovating it in the smart contract space in the summit.

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Anoushka is a full-time journalist at AMBCrypto, passionate about writing with a degree in B.A. Combined Humanities. She holds no value in cryptocurrencies currently.



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