Ethereum Classic (ETC) Could Perform Better If ‘Ethereum’ Is Removed From The Brand Name
ETC Labs developer Stevan Lohja stated that the project needs considering the possibility of rebranding, which means the rejection of the concept “Ethereum”.
The initiative has already been supported by ETC Cooperative developer Yaz Khoury and others.
Twitter community members began to suggest their own titles of cryptocurrency, such as #Classic, VERDANCE, Nemerium, etc.
“I suggested renaming to VERDANCE. We are completely crippled by the Ethereum association and clearly cannot change our point of view. The fact is that many still think that we are a plug, and that will not change. Rename Now!”, tweeted user under nickname Silverniosiast.
However, the community of both ETH and ETC projects may benefit from such “changes”. The new brand will break the connection between the cryptocurrencies, thereby potentially pushing both of them to new different levels.
Other Side: The Combining Of ETC With ETH Will Beat An Alternative Projects
Note that recently, a well-known developer at the ETCDEV team Donald McIntyre claimed the mutual integration of Ethereum Classic with Ethereum will create a truly secure and efficient blockchain.
Ethereum Classic and Ethereum cover different directions of the blockchain industry, but combining the capabilities of both ecosystems would allow them to struggle in the future with alternative projects such as EOS, Tezos, and Cardano.
According to him, if Ethereum seeks to scale and process a large number of transactions, Ethereum Classic can act as a “highly secure blockchain” to ensure the security of the first.
Therefore, Ethereum Classic will remain the only PoW blockchain with a fixed monetary policy [in addition to Bitcoin] when the Ethereum turns to the Proof-Of-Stake consensus algorithm.
“That is an extremely valuable niche in the industry that will be increasingly appreciated in the next few years,” he says.
The developer also criticized the statement by EOS cofounder Daniel Larimer the superiority of the Delegated Proof-Of-Stake consensus algorithm over existing analogs. In his opinion, distributed ledgers like EOS are not complete blockchains, but only imitate the consensus and security that exist on the Bitcoin and Ethereum Classic networks.
Ethereum Classic, the primary Ethereum network, has grown at full pelt over the past few years. Ethereum Classic has already sustained serious rebranding in the past and is set to enter the world of IoT and other advanced technologies now.