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1 eth = $295.97 2.83%

Today High

$304.87

Today Low

$293.43

Today Change

$8.63

Market Cap

$27.46B

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Ethereum Classic. It’s Complicated.

Published August 2, 2016

Anyone with a finger on the pulse of Ethereum will see that the community relationship between the newly hard forked Ethereum (ETH) and Ethereum Classic (ETC) is complicated. Having successfully forked the protocol in late June and achieved what was initially considered a success, anti-governance Ethereum users have adopted ETC, the untouched brother of ETH where the ‘hacker funds’ are still residing.

The rise of ETC has resulted in enormous uncertainty for ETH, wiping out the original price gains that were made from the hard fork. Ethereum founder Vitalik Buterin has commented on the new coin, stating that he welcomes the new version of Ethereum, but will continue focusing his efforts on ETH and in particular, the upcoming Proof of Stake protocol (called Casper – read how it works).

While ETC is causing some problems for ETH investors right now, ETC does not show any sign of producing a serious development team. Without this clear leadership or a unique value proposition, there is little more that ETC can do outside of being traded or held as a ‘protest vote’. In the current circumstances, the long term outlook for ETC is not all that positive; but with so much attention, perhaps leaders will emerge with a compelling vision.

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Hard Fork is a Success

Published July 20, 2016

Update: Full guidance for retrieving a refund from The DAO can be found here: https://slacknation.github.io/medium/12/12.html

Block 1920000 was mined and the hard fork was implemented. The longest chain became clear almost immediately, and the rest is history.

The DAO funds will be returned to users when the contract is made available. Watch this space.

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Hard Fork Incoming

Published July 18, 2016

A new community-created blockchain will be available for activation at block #1920000, which is expected to arrive on July 20th 2016, in which the Ether balance of the contract relating to “The DAO” and all of its descendants will be moved to a withdraw contract due to an exploited bug in the original contract. This should restore funds from all contracts linked to the exploit and allow authenticated holders of “The DAO” tokens to redeem it for ether.

It is advisable to read the update and download the latest version of Mist here. The simplest option is to scroll to the bottom of the page and download the appropriate version for your OS.

With confirmation of a Hard Fork, the price of Ether has recovered somewhat, increasing from a 60-day low of just above $10 up to $12. Should the Ethereum community choose to move to the new ‘winning chain’ immediately (i.e. the new chain proposed by the hard fork), we may see recovery continue further. Alternatively, should the anti-hard fork sentiment hold strong, we may see 2 versions of Ethereum running side-by-side (ETH and ETHc) which would bring with it a huge number of unknowns.

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Cast Your 0ETH Vote

Published July 11, 2016

Carbonvote.com has created a community poll for voting on the Ethereum hard fork. Over 500 votes have been cast so far and any user with ETH can have their say by sending a 0ETH transaction to the ‘yes’ or ‘no’ contract address.

For full information and instructions, visit the Carbonvote homepage.

As of this post’s publication, the vote stands at:

YES: 85%
NO: 15%

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Forking Uncertainty

Published July 8, 2016

The community is still split over how best to resolve (or not resolve) the issues created by The DAO. While it seems a hard fork will take place, how should it be implemented? And if it is implemented, will we see those who have been against hard forking moving away from the Ethereum network? Perhaps the side that ‘loses’ will continue using the ‘pre-fork’ Ethereum protocol and we will see Ethereum split into two separate entities, each progressing along a different path with different development teams holding different ideals.

While a consenus-driven solution seemed pretty certain shortly after The DAO’s collapse, that certainty has been dispelled and Ethereum is now passing through an extremely uncertain period in its development. The impact that this is having on Ethereum’s price over recent days is clear.

Further reading:

Ethereum developer Vlad Zamfir’s call for consensus
Slock.it’s hard fork proposals revisited

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