The Ethereum Classic Project is preparing to launch a series of developer meetups for the month of September. Beginning in Shanghai, enthusiasts will convene to discuss a viable software roadmap, recruit new core developers, and consider proposals on a formal foundational body for the Classic Project.

Although Ethereum Classic has seen surprising levels of support from a largely decentralized community initiative, core developers may need sponsored funding in order to turn their attention to Ethereum Classic full-time. Such funding was sparked earlier this week when China based exchange CHBTC announced it would begin sponsoring “current and future development efforts, as well as kickstart various community building proposals“. This growing support from the Chinese cryptocurrency community may signal that a strong development initiative is beginning to form for Ethereum Classic.

Recently, focus in development circles has been around an upcoming difficulty increase in the Ethereum Classic Proof-of-Work scheme which is designed to force consensus on a network security model for the future of the project. The upcoming “difficulty bomb”, which is slated for sometime in January of 2017, will add an additional variable to the Classic mining process, making block difficulty continuously harder irrespective of network hashrate increases. Whether the future of Ethereum Classic is with a Proof-of-Work or Proof-of-Stake hash function, a hard fork will be necessary sometime within the next 6 months.

For those interested, developers will be gathering in Melbourne later this month, rallying around the need to preserve and continue developing the original, pre-forked ethereum network.


Travis Patron

Travis Patron is the author of The Bitcoin Revolution: An Internet of Money, a seminal publication in the digital money space which outlines the basics of the bitcoin payment system. As a public speaking authority, he regularly speaks to audiences on the economics & industry trends of bitcoin.

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