A post on reddit has bee published today that introduces Classic Ethereum (CETH) – another Ethereum (ETH) for that is apparently in the making at the moment. Just like Ethereum Classic (ETC) the new Classic Ethereum (CETH) fork will follow the original Ethereum blockchain until the controversial block 1920000 where it will fork with a small signature change to make replay attacks impossible. We are going to see how this will affect things and if it may make them even worse than they are at the moment or instead will help. The current Ethereum situation where ETC is causing more issues than helping driven by the greed for making money from “free coins” and hurting different members of the crypto ecosystem with the use and misuse of replay attacks. We are going to be following the development of the situation with new fork Classic Ethereum (CETH)
Introducing Classic Ethereum (CETH)
Introduction
Welcome to Classic Ethereum (CETH)! First of all, we are not Ethereum Classic (ETC). I will use this post to explain clearly what CETH stands for and highlight differences from ETC. This will be sometimes hard, because if you ask 100 ETC users what ETC is you will get 100 different answers. We want to avoid this with CETH and give clear guidelines to the community.
The Good
Many of us agree that Ethereum should stay immutable. As we are witnessing right now there is a big need on the market for an immutable Ethereum. Doing a hard fork and moving funds without a signature is completely unacceptable in crypto. The Classic Ethereum team's view completely aligns with ETC on this one.
The Bad
Basically this is the only point we have in common. Let's be hones for a second. ETC is just a mess. If you look at the subreddit you will know what I'm talking about. Half of them are trying to pump the price and congratulate themselves on the achievement. The other half is Bitcoin users that just want to see Ethereum burn. Nobody really knows what is going on. Shady developers show up and claim they are going to take control over ETC, because their previous altcoin failed and they are looking for a new source of quick money. Half of the community disagrees, but nobody cares actually as the success of ETC is not defined by progress. It's defined by a meaningless price that doesn't even reflect the true value of the ETC blockchain. And we are right now in the situation that ETC has 5 different leaders. Some of them are asking to completely abandon the switch to POS and stay on POW. Some are asking to blacklist the hacker's coins, and again others say he should be able to cash them out. As we see, nobody can agree on anything.
What is Classic Ethereum
CETH is not opposed to hard forks. We just don't accept the idea of moving account balances with hard forks. As we already know, many hard forks happened before and many still need to happen to have the best blockchain possible.
CETH will closely follow the development of the Ethereum Foundation. The EF has great minds working on Ethereum. Even we disagree on some points, there is no reason to abandon this great team of developers. CETH will get all upstream patches from Ethereum, just excluding the controversial 1920000 block code. We will also follow a switch to POS when the EF decides to proceed in this direction.
I believe that we all can be civilised people working together. We believed in Ethereum before and we will do it afterwards.
What now?
The CETH team is working now on a fork of Ethereum that will continue on block 1920000 with a small signature change to make replay attacks impossible. We want to continue the original Ethereum idea. We will also closely work with the Ethereum Foundation and exchanges for a fair integration of CETH in the ecosystem. If you agree with our vision join us and subscribe to this subreddit.