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Yaz Khoury: "Ethereum Classic is like a Phoenix that rose from its ashes" - Ethereum Classic (ETC) News. Thursday, November 1st

01 november 2018, 14:17 by Jesús S. Affigne

Khoury: Ethereum Classic is like a Phoenix that rose from its ashes

He assures that this is thanks to the support of the community

Ever since the DAO attack that ended in the split of Ethereum’s mainnet, one of the forks positioned itself as the second largest blockchain project by market cap and got to keep the same name it had before the incident, while the other got ranked 16th in the top 100, according to CoinMarketCap, and added an adjective to its name.

Furthermore, this chain (Ethereum Classic) was in a critical situation, in which people began to think that it wouldn’t be able to make it through such incident, and it would eventually disappear, according to developer Yaz Khoury. “[The DAO attack] gave Ethereum (ETH) a stronger marketing edge as their value on the market wasn’t affected by shorting and more people went to ETH, thinking it’s the end of ETC.”

However, as Khoury stated, it was the faith of those supporting the blockchain of the green diamond and its vision of immutability as a key value that allowed it “to rise as a phoenix from the ashes.”

His words comes after his experience in the recent launch event of ETC Labs pilot program, an initiative to support projects that are going to be built on Ethereum Classic’s platform with financial and educative resources, as well as a space for working on the project. He perceived that the launch of said initiative was very positive. “It proved that the future of Ethereum Classic is bright and filled with so much potential,” he said.

At the event, several startups that will benefit from the support of ETC Labs were introduced, ranging from using ETC as IP library for protecting the copyrights of user-created contents, to a wallet that integrates into messenger apps and will add ETC to its portfolio; to a VR/AR company that wants to use this crypto asset to introduce “the first tokenized virtual influencers.”

All of the projects that were presented in the 2-day event, along with the interest he perceived from participants, reassured his faith in this blockchain. “By the end of the 2 day events, one thing remains clear. Ethereum Classic is just getting started,” he concluded.

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