Ethereum Classic
$7.22 4.98%
ETC · 11w

Former ETCDev member warns against ETH-ETC "peacebridge"

Any cooperation between Ethereum and Ethereum Classic will ultimately harm the smaller coin, with the larger network subsuming all of its benefits, according to a former manager for one of ETC’s development teams.

Donald McIntyre, who was the business development manager at ETCDev until it closed in early December, says that “stupid” collaboration attempts between the two platform networks would only damage Ethereum Classic.

“Bridges, wrappers and collaborations are a net negative for ETC as it blurs its positioning as people don’t understand the difference between ETH and ETC, and all other smart contracts platforms for that matter,” McIntyre told Crypto Briefing.  

This follows news that an ETH-ETC “peaceBridge” will soon be available for the public.  The protocol uses smart contracts deployed on both chains that allow users to mint tokens on one network that are backed up by deposits on the other – similar to a ‘wrapper.’

#PeaceBridge ETC-ETH Bridge Nears Completion! This ETC/ETH bridge is thanks to the collaborative efforts by the builders from @Akomba Labs, @KyberNetwork and @ETCCooperative Learn more about the project. Watch the demo. https://t.co/5oN4xprwbo#ClassicIsComing #EthereumClassic pic.twitter.com/WjuupDKKl6 — Ethereum Classic (@eth_classic) March 1, 2019 ETC and its principles

Ethereum Classic separated from Ethereum in 2016 after a disagreement over whether funds stolen during the DAO hack should be reversed.

The majority of the Ethereum community agreed to rewind the network, to rescind the $6.2M theft. A smaller group, which would later go on to form ETC, argued the blockchains needed to be immutable and that the hack, though regrettable, should be honoured.

Although technologically similar – as Coinbase noted when it added ETC back in the summer – many of the Ethereum Classic team believe the network’s strong views on decentralization are a unique selling point.

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