The Ethereum Classic Cooperative Publishes Its Mid-Year Report
The Ethereum Classic Cooperative, which manages the project’s open-source, public, blockchain-based distributed computing platform that features smart contract functionality, announced today that it has released its mid-year report breaking down the current state of affairs of the Ethereum Classic (ETC) ecosystem.
Here's how we've been improving $ETC
Too much for a tweet so take a look at the full report with your eyeballs.
Full report: https://t.co/LkPKoLlxqu
— ETC Cooperative (@ETCCooperative) July 9, 2018
In the full report, the Ethereum Classic team highlights some of the key accomplishments over the last six months, including the fact that average transactions more than doubled from 17,000 to 47,000 per day (+175%).
Likely as a result of the recent announcement that Coinbase will be listing ETC across its products, the social following for Ethereum Classic has also grown rapidly. The project’s subreddit (r/EthereumClassic) grew 70% from 12,000 to 20,500 subscribers, while it’s Twitter account (@eth_classic) grew 60% from 125,000 to 200,000 followers.
The report filters the current ongoing developments into three major categories: Technical Enhancements, Community Building, and Outreach. Each category features a number of cost-projected projects that range from improving Etherhub.io, the first ETC block explorer ($6,000), to staging an ETC Summit in 2018 ($140,000).
Perhaps most notably, the Ethereum Classic team has provided an overview of the project’s cash flow. In the first 6 months of 2018, the Ethereum Classic Cooperative had net gains of $375,000, bringing its total cash reserves to $700,000.
The price of ETC has steadily grown over the last month and is now valued at $18.33 with a market cap of $1.89 billion.
In-Depth: Ethereum Classic: All You Need to Know
Disclaimer: This article’s author has cryptocurrency holdings that can be tracked here. This article is for informational purposes only and should not be taken as investment advice. Always conduct your own due diligence before making investments.