ETHEREUM: the urgent need for change
Recent updates in St. Petersburg and Constantinople have revealed serious problems that threaten the Ethereum network. The concentration of control in the hands of several people, reduction of remuneration for the unit, pressure on miners to agree to increase or face a terrible "bomb complexity" - all these factors show that Ethereum is very far from the really decentralized system, which they hoped to be.
The current decline in the cryptocurrency market - the longest in history - shows that the massive introduction of Ethereum is still far away. The problems of scalability, the instability of gas pricing, the transition to Proof-of-Stake, and low efficiency must be resolved to convince people that digital currencies are a viable alternative to paper money. The Ethereum Basic development team is ready to take the necessary urgent and large-scale actions to achieve this goal.
About
Ethereum Basic (ETBC) is a new cryptocurrency designed to solve the most pressing problems faced by Ethereum and to facilitate decentralized management. ETBC. It will contain an extensive set of tools, mechanisms and services that are already fully functional, but were not included in the Ethereum update schedule:
- Transition to PoS, which should be complete and comprehensive, and not partial, as provided for under Casper
- Scaling: increase network bandwidth using network and standalone solutions.
- Removing the bomb difficulty to reduce the pressure on the miners so that they can accept future improvements
- Removing the bomb difficulty to reduce the pressure on the miners so that they can accept future improvements
- Make the network more currency independent
- More incentives for full knots
- ASIC-resistance implementation
- Optimization of gas fees
Drop a photo
A snapshot of the ETH network will be taken May 16, 2019 and 16:00 GMT. All ETH owners will be eligible for free ETBC coins in a 1: 1 ratio. Please note that only personal wallets with blockchains can participate in the distribution of ETBC.
EXCHANGE COLLECTORS ARE NOT ACCEPTED, if you keep air on the exchange address and would like to receive ETBC for free, transfer your ETH to your personal wallet before the snapshot.
ETBC - emission and distribution
Coin Ticker: ETBC
Network snapshot date: May 16, 2019, 16:00 GMT
Network launch date: May 26, 2019, 16:00 GMT
Initial Emission: 2,000,000 ETBC
Ratio of airdrops: 1: 1
ETBC will be distributed live: all ETH owners can qualify for ETBC for free.
Mining protocol: first PoW (CPU, GPU), then transition to ProgPoW (ASIC-resistant) as an intermediate step, then full transfer to PoS
Initial distribution: 95% of the preliminary mine will be distributed among current ETH holders and reward program participants.
Road map
Q4 2018 - Q1 2019
Development of a general project implementation plan, team building.
Q2 2019
Launch of the official website; production and distribution of pre-minted 2,000,000 ETBC coins; launch of the rewards program; start mining PoW; ETBC listing on several exchanges.
May 16, 2019
Snimok block.
May 26, 2019
Run the main network.
3Q2019
Work on the DEX module, preparing for the introduction of ProgPoW and the base payment system; launching incentives for full nodes; adding more exchanges.
2 District 2020
Run 0x and non-ether transaction using Lava Network, testing the PoS mechanism; XDEX beta with integration 0x; selection of multiple projects for listing with zero pay on XDEX.
1 District 2020
Run 0x and non-ether transaction using Lava Network, testing the PoS mechanism; XDEX beta with integration 0x; selection of multiple projects for listing with zero pay on XDEX.
Q4 2019
The launch of the basefee + tip system and the expected reduction in gas fees to 80%, the alpha launch of the decentralized XDEX exchange, the work on implementing the 0x protocol first voting sessions among full nodes.
3 District 2020
Switch to the agreed PoS protocol; scaling using plasma.
For additional information:
Website: https://ethereum-basic.com/
White Paper: https://ethereum-basic.com/whitepaper.pdf
Telegram: https://t.me/EthereumBasic
Authors: Loksyun
My Profile Bitcointalk : https://bitcointalk.org/index.php?action=profile;u=1886140;sa=summary
My ETH: 0xd0d8c8e966efC43d681a33f2536fD44AfDf8c827
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