ETC monetary policy is officially finalized, BTCC announces full support for ETC

Many thanks to all the developers, community members, users and investors for their help. This week, the ETC monetary policy was updated. Blockchain company IOHK published a great article detailing Dash's governance and financial model. Thank you for reading and sharing this report, and I look forward to your comments.

ETC Development

EthCore accepted our pull request for bomb delay (ECIP-1010). This means that after the January version update, Parity and Geth will be fully compatible.

In addition, the development team is also working hard to stabilize the ETC code. Our developer @Elaine fixed the problems in ETC cpp-ethereum (source code files written in C++), removed DAO fork support, etc. @Sianyu focused on the JavaScript language of ETC Dapp, laying a solid foundation for the construction of our wallet and other Dapps, and soon we will be able to replace the existing Mist user interface (UI); @prophetdaniel mainly studies the Mist client, aiming to build the ETC version of the Mist client; @avempace participated in the EtherJar project, which is an ETC client based on the Java language and is mainly used for financial technology development.

ETC Monetary Policy Update

Community member "snaproll_" posted on Reddit, expressing some of his thoughts on ETC's monetary policy.

I have recently started drafting the ECIP on monetary policy, which involves a lot of numbers, so we should finalize it as soon as possible. So I re-studied and made the analysis table, hoping to draw better conclusions...

Discussions on ETC’s monetary policy are taking place on many social media platforms, but are mostly concentrated in the Slack #monetary_policy channel.

If you want to learn more and participate in community building, relevant posts on Reddit may give you inspiration.

ETC Wikipedia Page Construction

Reddit user "bitp" posted that the current Wikipedia link of ETC has been directly transferred to ETH. ETC community member /u/FaceDeer was once an editor of Wikipedia and provided a lot of professional advice on this. He suggested that the community first add ETC content to the Wikipedia page of ETH, and then call on volunteers to submit and add more information, so that ETC can have an independent page.

Chinese exchange BTCC announces support for ETC

An article in Cointelegraph stated that China’s large exchange BTCC resolutely chose ETC instead of ETH.

Due to the high market capitalization of both, some major Bitcoin exchanges, including Kraken and Bitfinex, support both ETH and ETC. However, BTCC has chosen to support only ETC, publicly stating its preference.

Across multiple social media platforms, BTCC’s response was succinct: ETC :).

Samson Mow, COO of BTCC, tweeted:

BTCC plans to list ETC - the specific time has not yet been determined.

Rocky published an article on the foundation of ETC

Babbitt published a translation of the article, which mainly describes the development progress of ETC in many aspects and expresses confidence in ETC.

ETC was born in a 'turbulent time', so this project attaches more importance to decentralization and community opinions. Like Bitcoin, ETC community members also contribute to its development as volunteers. There is no centralized company or foundation in the community, and any decision is made based on community discussions.

It is worth noting that the article mentions ETC’s monetary policy.

The formulation of ETC's monetary policy has reached the final stage. Unlike ETH, ETC will control the total issuance to around 210 million to 222 million. ETC will also reduce the inflation rate by halving the block reward. This method has been effective in Bitcoin, so it will also bring confidence to ETC investors.

"Let's Talk ETC" youtube channel

The first episode of Let's Talk ETC has been uploaded. It will be updated every Tuesday at 7:30 pm EST. This week's second episode (2016-11-15) invited special guest Bill Cassidy from Dash to discuss Dash's governance model and other topics related to blockchain.

Analysis of Dash’s governance model

Blockchain company IOHK released a report (download the full text of the Coin Library) that details the Dash management system and its strengths and weaknesses, and proposes corresponding solutions. The report has important implications for the development of the Dash and ETC communities.

POW+POS hybrid system

In June this year, Virginia Commonwealth University and Shanghai Jiaotong University jointly published a paper (full text download of Coin Library), which mainly talked about how the combination of POW and POS can effectively defend against 51% attacks. Recently, the University of Virginia further deepened this concept and published a new paper (full text download of Coin Library), arguing that the combination of the two mechanisms is conducive to ensuring the security of blockchain.

The development of the community from the numbers

The community activity is as follows:

Twitter – 33,500 followers
Reddit /r/EthereumClassic — 2,836 subscribers
Slack discussion group – 1,453 participants
Telegram (communication app) — 786 users
WeChat — 476 users

Mining community updates:

Miners – 541.98 GH/s (Source: Gastracker.io)

The top five mining pools by hashrate in the past seven days:

Nanopool – 106.51 GH/s
91pool – 91.33 GH/s
MiningPoolHub ——72.08 GH/s
EtherMine – 50.38 GH/s
Coinotron – 35.33 GH/s