In July 2016, when a system hack called into question the true nature of blockchain decentralization, part of the Ethereum (ETH) foundation split off and founded its own cryptocurrency, Ethereum Classic (ETC). What is quite strange is that the Ethereum Foundation has now donated $150,000 in ETC to the Ethereum Classic Foundation.
According to a statement from Ethereum Foundation employee Virgil Griffith, this donation is aimed at strengthening the relationship between the two companies, as well as supporting the development of Ethereum Classic.
We use this as an opportunity to bury the hatchet between our communities. Does this mean that ETH and ETC will suddenly become best friends? Most likely not. However, if you look at the top 25 cryptocurrencies, ETC is the closest coin to ETH in terms of technical components and a common vision for the future. Thus, cooperation is beneficial for both teams. This donation is an investment in a long-term and productive relationship with ETC.
Interestingly, not all members of the Ethereum Classic community consider this move to be sincere. For example, Donald McIntyre, one of the developers of ETC, tweeted negatively about this donation, calling it “a social attack by Vitalik and the Ethereum Foundation.”
ETH and ETC are currently ranked 2nd and 15th, respectively, in the AltDex 100 index.
According to sludgefeed.com
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