News broke out on Monday that the Ethrereum Classic (ETC) development team ETCDEV had officially shut down due to the team lacking money to fund their operation. Even so, the community was quick to receive clarification that other teams will still remain working on the project.
According to information provided by the official website of the Ethereum classic project,
“ETCDEV is a leading Ethereum Classic development company with a strong focus on decentralized computing providing long term support for the ETC blockchain.”
Founder and CTO of ETCDEV, Igor Artamonov, wrote in announcement that the team tried their buest to secure investment funds for their operations, but their efforts were unsuccessful. Artamonov also pointed out that the crypto market crash played a heavy part behind the reason for the group, which is made up of 10 people, found themselves in a increasingly difficult financial situation in recent weeks.
Unfortunately ETCDEV cannot continue to work in the current situation and has to announce shutdown of our current activities pic.twitter.com/N6xWnpBNJJ
— ETCDEV (@etcdev) December 3, 2018
After this announcement was made, the verified Ethereum Classic Twitter account quickly pointed out that this did not mean in any way that ETC itself was being shut down. As the group stated before, Ethereum Classic is backed by other groups of developers.
Ethereum Classic is not ETCDEV
Ethereum Classic is IOHK, ETC Co-op, ETC Labs, ETCDEV, and a litany of volunteers.
Keep Calm, and Build On. https://t.co/J4IYvC906j
— Ethereum Classic (@eth_classic) December 3, 2018
Although, if your interesting in joining the team, ETCDEV website is currently has five job openings, this includes a position for two developers.
Currently, it’s quite unclear how the shut-down of this major team can impact the future of Ethereum Classic. If ETC is to remain relevant as a digital asset in the coming future, other teams will now have to pick up the slack and continue developing the platform towards its true potential.
How will this affect the future of Ethereum Classic?
Let us know your thoughts.