Ethereum founder Vitalik acknowledges the existence of the Classic blockchain, and ETC transaction volume exceeds ETH for the first time

Ethereum creator Vitalik Buterin released a new statement today reaffirming that the nonprofit Ethereum Foundation will support the development of the Ethereum protocol, including the forked version of the Ethereum blockchain, Ethereum Classic.

The organization was founded in June 2014. In the past month, The DAO, the most prominent project on the Ethereum platform, was caught in a hacker attack crisis. The foundation has successively provided soft and hard fork solutions to solve this problem.

However, due to loopholes in the soft fork solution, the community decided to abandon the soft fork. Under time constraints, the community finally chose a hard fork. After the fork was completed, two blockchains were generated.

The organization stated that it would not hinder any alternative Ethereum projects, such as Ethereum Classic.

Buterin wrote:

“We recognize that Ethereum’s code can be used to implement other blockchains with the same consensus rules, including test chains, consortium chains, private chains, and split chains, and we have never objected to such instances.”

In the rest of the announcement, Buterin also encouraged the Ethereum Classic team to perform an additional hard fork to move classic ether to new accounts to protect its blockchain from "replay attacks."

As of press time, community reaction to the announcement was mixed.

For example, on reddit, some people praised the foundation’s announcement, while others, on the contrary, believed that Ethereum Classic’s implementation of the protocol would be the best representation of the value of the Ethereum project.

Interestingly, following this announcement, the volume of classic Ethereum (ETC) began to surge, and at press time, the total volume of ETC has surpassed that of ETH.

On the poloniex trading platform alone, ETC's daily trading volume has reached 149,204 BTC , which is twice the trading volume of ETH ( 77,756 BTC ).

It is reported that trading platforms including Bitfinex, Shapeshift, Yunbi, Kraken and others will launch ETC.