| name | date | time | location | length |
|---|---|---|---|---|
ETC Community Call 008 |
2022-01-11 |
1500 UTC |
Discord |
30-60 mins |
A casual voice chat to discuss ideas for ETC. All are welcome.
The ETC Discord can be joined at https://ethereumclassic.org/discord
Please join us in the #community-calls channel ask questions or bring up topics.
- Check In, Start at 1505
- Cody on 18th, Community Multisig
- https://github.com/ethereumclassic/community-calls/projects/1
- Site voting
- Mistique merged ethereumclassic/ECIPs#452
- The SHA3 Debate, The Merge, idea about Exchange Confs
- Soteria Smart Contracts proposal presentation (https://shorturl.at/uOWY6)
- Open Discussion
- Completed
- Duration 60 mins
- Attendees ~30
- Recording: https://www.youtube.com/watch?v=Kirnjy04PkY
OVERVIEW
The call is to discuss the agenda about merge of ETC, discuss the ideas and campaigns initiated, the point-outs of hard fork, update for the landing page, idea and working of Soteria and it uses. The progress and updates are posted by members for posting and suggestions. Further, an open ground is provided to discuss or share any details that the members deem to add value to the discussion.
KEY-POINTS
Speaker 1 : Cody (chief architect) has confirmed regarding the "don't panic buttons" in chat and will be present next week for a discussion for the multi SIG Fund.
Speaker 1 : A project campaign in the community has been created to coordinate with guests that will include a bunch of different ideas and topics. Speaker 2 mentions that the guest has a background of technical analysis. The plan is to share screen and have a live technical analysis.
Speaker 1 : The update for on the voting for the landing page of website is concluded and four designs have been shortlisted, they will be revealed with launch of website. The new website is expected to land by the end of January.
Speaker 1 : Further on the agenda is that the hard fork has been approved. The hard fork is the compatibility update in order to resemble it with the EVM. The details are as follows:
a) 2 EIPs: EIP 3529 which is an alternative refund reduction to remove gas refunds for self destruct. It will help reduce the spam on network by disincentivizing. EIP 3541 which rejects new contracts starting with OXEF byte that means no future contract shall be deployed on the OXEF chain prefix. b) The block number is planned for February 10th, 2022. c) The block number is 14,502,000.
Speaker 3 : Provides the presentation of the project called Soteria. The main objective is to create a sustainable environment for projects and users, where trust is minimized through rigorous smart contract auditing.
a) Soteria will ensure that ETC has a clean record for the rest of history b) Soteria ensures to provide resources to execute a good idea c) To show that non-fungible tokens can be used for other things, and not only as collectibles d) If a project needs basic funding, marketing or any resources to be successful then Soteria can either provide the liquidity pool or connect relevant members.
Soteria by-products will ensure to manage one of the main objectives.
- Project auditing and safety, a full smart contract auditing through preliminary checks by background checks, smart contract and front-end testing. If something is not right, then it goes on Alert.
- Smart contract creation and technology innovation division. It is for those who needs a team and smart contracts for that of top notch quality which will be audited as well The plan to launch is estimated by the mid of February.
Speaker 1: Reads out the questions in community call notes channel
Speaker 4 : Provides a detailed analysis and predictions about the hash rates and mining profitability. Per the speaker, the miners might divert and affects the hash rates but Ethereum has a strong basis and eventually will result profitable after a struggle of months, ETC is slowly catching up with Etherium in terms of mining profitability, and the global emission of coin is a limiting factor based on hash rates. All the above points predict towards a positive future. Based on the analysis speaker 1 is convinced for the merger as it will encourage the miners profitability in the foreseen future with stability.
Speaker 5: Presents the analysis of revenue of miners.
o From block 15 million it ranges from 3.2 to 2.56 and from block 25 million, the payout will be 2.048. o ETC is going to pay the miners 23.04 million ETC in the differential 10 million block and that is more or less in the next five years starting from April or May. o Assuming those 23 million stay at $50 and nothing changes then it's a revenue of 1.15 Billion. Similarly, if it tops 100 or 1000, the revenue will then be 2.3 billion or 23 billion dollars respectively. o The companies jump block by block basis relying on the judgment by companies in Bitcoin for the long term projections. ETC has a good opportunity to attract those miners from Ethereum just because of revenue potential.
Speaker 1 mentions that SHA3 is really pushed back and that it is hard to put a deadline on it to make it work. To which Speaker 6 suggests to wait for the 2.0 to rollout and analyze the consensus and the smart contracts that will be compromised.
Speaker 2 : shares the calculation that if 20% of the current hash rates would move then it means a 7x increase in our current hash rate.
Speaker 2 shares the analysis of trading and believes that it will enter into a new cycle, Speaker 1 is convinced of positive results for Ethereum classic.
ACTION ITEMS:
- Make a list of questions not limited to the Multi SIG but the aspects regarding the network.
- Invite the developers to join and have dedicated client call after the fork.
- Speaker 3 shall communicate the idea of community funded mining facility with Speaker 6
The call is adjourned after 63 minutes. The next agenda to have discussion about the multi SIG with Cody.