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Ethereum Classic [ETC] Summit: Charles Hoskinson speaks about Bitcoin [BTC], ETC ecosystems and the road ahead

Priyamvada Singh



Ethereum Classic [ETC] Summit: Charles Hoskinson speaks about Bitcoin [BTC], ETC ecosystems and the road ahead
Source: Pixabay

On 13th September, which was the second day of the 2018 Ethereum Classic Summit held at Seoul, South Korea, the creator of Cardano and Co-Founder of Ethereum, Charles Hoskinson delivered the last talk of the show titled ‘The Road Ahead’. Here, he outlined a future for Ethereum Classic as well as the entire cryptocurrency ecosystem and introduced different perspectives.

Giving a general stance on the future of cryptocurrencies and blockchain, he stated:

“At the end of the day, cryptocurrencies are really going to be something significant. And they are actually going to be a decentralized option. Not something that is controlled by patrons or governments or controlled by small communities.”

Hoskinson explained how the Ethereum Classic community is at an advantage when it comes to having a small number of people involved in contrast with Bitcoin’s large community. He added that the community will eventually have to figure out how to evolve and sustain without an appointed leader to show the way.

“And the great value for the Ethereum Classic community for the road ahead is that we now have to pursue a completely different roadmap from where Ethereum is eventually going to go. It is sure going to be a fight ahead but we have to be our own guide.”

Furthermore, the tools used by the community to resolve that fight should not just be significant for the community but for the entire cryptocurrency ecosystem, stated Hoskinson.

Next, he talked about the benefits of decentralization in a small community. In the case of Bitcoin, the community is too big and is therefore prone to controversies. Hoskinson said that there is too much value and brand at risk in such a community.

He believes that the Bitcoin community takes a long time to land decisions whereas Ethereum Classic can build multiple governance systems quickly. The Cardano Founder gave this as a reason to still be interested in ETC.

In the latter part of the talk, Hoskinson took the questions from the audience and answered them in length. The ETC Summit also carried sessions by popular figures in the cryptocurrency space, such as Thomas Lee from Frundstrat, Coinbase member Kayvon Pirastani, several researchers and developers from Input-Output [IOHK], Cody Burns, the blockchain architect at Accenture, among others.

A Twitter handle named The man of the hour commented Hoskinson’s talk and stated:

“Shouldn’t this guy be talking about Cardano ? Focus in too many places. Not good.”

VittoGoL, a YouTube user and cryptocurrency space follower also wrote:

“We are still waiting for the new wallet faster and light. When is coming out?”

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Priyamvada is a full-time journalist at AMBCrypto. A graduate in Journalism & Communication from Manipal University, she believes blockchain technology to be a revolutionary tool in advancing the future. Currently, she holds no value in cryptocurrencies.