ETC Weekly Newsletter : Network Update
November 29, 2016
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ETC Development Report
Hi everyone, thank you for checking out this week’s ETC newsletter! Big shout out and many thanks to all the developers, miners, community members, user’s and investors. Last week started off little hectic due to some network issues (detailed below) that the ETC network experienced for a few hours. I kept the monetary policy update from the last newsletter since it is still such a hot topic throughout the community. We also have an upcoming ETC event in London, an interview featuring Chandler Guo and another article from Dr. Seberino discussing smart contracts. Thank you for taking the time to read and distribute this newsletter, looking forward to hearing your thoughts.
ETC Monetary Policy Proposal by @Snaproll is now officially out as ECIP-1017.
- “This ECIP proposes a solution to the Ethereum Classic Monetary Policy to adjust, with finality, the current emission schedule implementation of 14.0625ETC per block in perpetuity. The solution proposed introduces a theoretical upper bound on the maximum absolute number of ETC and introduces a method of degraded emission over time. In addition, this ECIP describes the requirements associated with maintaining this emission schedule through a potential change of the network’s consensus algorithm, from its current Ethash based Proof of Work to a possible POS or POW/POS hybrid model.”
- Please see his full post from Github and reddit.
- Monetary policy discussions are still in progress on many platforms. However, most of the conversation seems to be taking place on Slack in the #monetary_policy channel.
- Please join us on Slack.
- For more information on community participation, please see this call to action post for guidance.
ETC Network Update
Hi everyone, please read this announcement about the network issues that were experienced last week.
The ETC network experienced an abnormally high level of orphans for a few hours on 11-23-16. The situation is still being investigated. If you suspended deposits/withdrawals, we consider it safe to resume deposits/withdrawals.
If anyone (especially miners) notices some suspicious behavior of their Parity node, please save the Parity log WITHOUT restarting Parity (as it overwrites its log upon restart). After the log is saved please send the log to firstname.lastname@example.org (use tags #bugreport and #parity) for investigation.
Please read the bullet points below for answers to the most common questions:
- ETC network experienced issues for a few hours with abnormally high orphan rate and other effects.
- Causes and remedies still being investigated, it’s safe to proceed with Parity 1.4.4, we will be investigating.
- Ethcore is aware and investigating with us as well.
- All versions of Parity and Geth are working normally.
- ETC does NOT have a geth/parity forking issue. The problems ETH experienced last week are unrelated to the ETC chain.
ETC event in London scheduled for December 13th!
Dr. Avtar Sehra has organized an ETC event in London which will take place on Tuesday, December 13th, 2016.
The Event will be hosted by one of the leading financial services law firms, Eversheds LLP, at their London St. Pauls Head Quarters. They are in the process of confirming speakers and panelists from the BTC and ETC community.
Focus of the event will be to provide an update on the activity in the ETC community so far and what the future holds in terms of projected roadmap:
- Update on what has happened so far in the ETC Ecosystem.
- Planned monetary policy hard fork and why it matters.
- Panel discussion on monetary policy, economics and the future of cryptocurrency.
- Please see Dr. Sehra’s twitter post below for more info. https://twitter.com/avtarsehra/status/803292714267738112
Cryptocoinnews.com interviews Chandler Guo.
“Chinese investor Chandler Guo, who has invested in various bitcoin and Ethereum Classic startups including major bitcoin mining pool BW.com…” Check out the link below for the full interview.
Article about smart contracts released by Dr. Seberino.
“The Skinny On Smart Contracts: An Introduction & Why You Should Care.”
Let’s talk ETC! Tuesdays at 7:30pm EST.
Every Tuesday at 7:30pm EST we will be discussing what’s going on in the ETC community and beyond. This week’s show (11-29-16) will feature a special guests from the ETC mining community. We will be discussing mining as well as other of blockchain centric topics. A link to the channel/show will be posted below, if you have ideas or questions please let us know. Thank you for subscribing to our latest updates and announcements!
“Call To Action” still in effect. Looking for community contributions for the ETC Wikipedia page.
Reddit user “bitp” has brought it to the communities attention that the “Ethereum Classic” Wikipedia link currently redirects to “Ethereum”. ETC community member /u/FaceDeer was previously a Wikipedia editor and has provided some insight on what should be done moving forward. One of his recommendations is that we start the process by adding to the Ethereum Classic section that is currently on the Ethereum Wikipedia page. ETC can then be given its own page after volunteers have submitted enough info. Please see his full post in the reddit thread linked below.
- Twitter - 33,500 followers.
- Reddit /r/EthereumClassic - 2,858 subscribers.
- Slack - 1,491 users.
- Telegram - 784 users.
- WeChat - 477 users.
- Miners - 428.15 Total GH/s
Top 5 miners by average hashrate from the previous 7 days.
- 91pool 101.21 GH/s
- NanoPool 83.31 GH/s
- F2pool 27.56 GH/s
- EtherMine 46.85 GH/s
- ManekoETC 27.55 GH/s