Coin tribalism is very common in the crypto community. Different communities are constantly in tussles with each other about the superiority of one coin over the other. However, the truth is that it is still early days for DLTs and competition is unproductive. Cooperation is the best way for this space to grow, and gain wide adoption in the markets. As Jed, recently put it,
“We don’t think the world will end up with just one blockchain or one distributed ledger. Interoperability between them will become increasingly more important.”
In essence, the fact that Ethereum (ETH) and Ethereum Classic (ETC) are finally working together is a positive thing for the growth of both projects. Yesterday, Virgil Griffith of the Ethereum foundation penned a piece in which, he explained the warming of relations between the two chains. This was symbolized by a donation of $150,000 worth of ETC to the Ethereum Classic cooperative by the Ethereum Foundation. According to Virgil, Ethereum will draw a number of benefits from this cooperation. One of them is access to quality engineering from the ETC chain. Here is what he said about access to quality engineering from ETC.
“The ETC community has some quality talent, for example: SputnikVM is sometimes faster than our own core/vm implementation and we’d be delighted to see SputnikVM use the EVMC API to be usable within our own geth client. The Emerald Platform is sufficiently pleasant that we imagine some developers wanting to use it for ETH dapps.”
Ethereum Classic (ETC) also stands to benefit immensely from this partnership. For instance, from the donation that Ethereum Classic cooperative has received, it could use it to help foster developments on the Ethereum Classic (ETC) network. The Ethereum Classic community has been holding meetups to help foster developments on this network. This donation can help push up the development of Dapps on ETC. Since Dapps are part of the core value of ETC, this is a welcome addition to growing this blockchain.
Ethereum Classic (ETC) also stands to benefit from projects porting over from Ethereum. Given that the two projects are very close to each other, it means that developers can easily port their projects from one blockchain to the other. This could draw in more Dapps into ETC and play a role in pushing up its going into the future.
Besides, ETC stands to benefit from the wider recognition in the market of Ethereum (ETH), since it has a much bigger network. This could play a role in driving up the value of this crypto going into the future, as investors take a bigger interest in the two projects. It’s clearly a win-win situation for both chains in the market.
As such, holding Ethereum Classic (ETC) going into 2019 could pay off big time. This assertion is supported by the fact that the ETC community has become increasingly assertive in pushing ETC in the market, and with more exchanges listing ETC as well, it is only a matter of time before it turns bullish.