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What Will Be The Next Move Towards Ethereum?

Ethereum, being the third largest cryptocurrency, currently trading with $2,247,208,838 worth 24-hour volume is changing its flow showing positive signs.

Charles Hoskinson: Mantis Is Entirely Backing Ethereum

Recently, the Founder at IOHK as well as the co-founder at Ethereum, Charles Hoskinson reveals a statement regarding two communities, the Ethereum along with Ethereum Classic community. The tweet read:

The revelation on this ETC Mantis client  prior made in 2017. Moreover, this client is developed and designed right from the scratch using Scala programming language. There are complete efforts of IOHK developers team behind this project faithful to Ethereum Classic namely Team Grothendieck.

The core agenda of Mantis have been clients for Ethereum classic direct from scratch. As per their official announcement through Github, the team mentions Mantis 2.0 to focus on enhancing general performance. They also intend to introduce entire network support for Ethereum.

Moreover, this new version tested properly on its latest version over Windows and Mac OS, before its release into the market. Their team further notes the present version offers the support for peer discovery, CPU mining, fast and regular sync, Ethereum classic and Ethereum networks, Moreden and Ropsten Testnet and private network, and Ethminer integration.

Back in October, Ethereum Foundation also revealed their partnership status with the Ethereum Classic community. This unexpected since the chain splits up following the DAO hack. However, the Foundation was also focusing on making peace with the community.

Further on they donated worth 15,000 ETC to the Ethereum Classic Cooperative. Together with the announcement, they mention about IOHK’s Matis to support Ethereum as a part to peacemaking.

Binance CZ: Ethereum Tokens Might Convert to Binance Chain Tokens

Changpeng Zhao aka CZ who is the CEO and Co-Founder at Binance clarifies regarding his upcoming Binance DEX. He reveals quite things relating this decentralized exchange at Binance Conference, during an interview with Boxmining.

He also mentions the DEX to hold the same number of enlisting ERC20 token or not. CZ starts the discussion from Binance working on centralized as well as decentralized exchanges, and the challenges both are facing in this competitive market. He further specifies the classification of exchanges according to him into three types:

  1. Fiat-to-crypto centralized exchanges
  2. Crypto-to-crypto centralized exchanges
  3. Decentralized exchange aka DEX

CZ explains that fiat-to-crypto exchanges will not be decentralized, whereas, with crypto-to-crypto centralized exchanges offers high-liquidity, security, speed. Further, he notes:

Most of the guys in the core community are heavy power users and they’re loud, they speak more and they want to use DEX. So we see that not really competing, we’re just offering different solutions to different people and we always let the user choose and we let the market choose.

CZ after analyzing the situation says that currently market is referring centralized exchanges rather than decentralized exchanges due to their size. However, he adds saying everyone today is aware of the reality regarding decentralized exchanges to be the future.

Following various aspects, the CEO comes to the point talking about the Binance DEX and ERC20 assets tokens. He cites:

So some of the ERC20 tokens may convert to the Binance chain tokens and we already have confirmation on a number of large projects. We’re doing that they have to migrate completely from Ethereum on to Binance.

Furthermore, he mentions while using ERC20 as a token; it presents no real reason to hold on Ethereum. Using Binance chain, everyone has second transaction confirmation along with final confirmation.

Moreover, CZ claims this chain to be faster and its transaction fees to be cheaper. He elaborates their major advantages benefiting token projects to shuffle right from Ethereum to Binance, which further incorporates a native DEX.

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Elena R

Elena is an expert in technical analysis and risk management in cryptocurrency market. She has 10+year experience in writing - accordingly she is avid journalists with a passion towards researching new insights coming into crypto erena.

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