The ability of a system or even a human being to process data or provide solutions to a given task in the best shortest possible time cannot be underrated or remain dispensable. Time is a very big and important resource to human beings on planet earth, and there’s a popular saying that states thus: “time and tide waits for no one”, yes this is certainly true because any seconds that's gone cannot be reversed or repeated hence time doesn’t seek permission of anyone in order for it to do its work. So, no one would like to engage in any activity or task that would take so much time to accomplish because time wasted in waiting for such tasks to be completed cannot be reproduced again hence such activities are being avoided by people. Engaging in such time wasting ventures could be boring, frustrating and amount to work in futility therefore a user apathy to such time wasting event is usually recorded wherein such event manifests. It's quite unfortunate to note that time-wasting transaction processing is associated with the blockchain technology; it is undisputable that the features of decentralization , transparency and trustless transaction are adorned on the blockchain technology, however the issue of high transaction processing time seems to bring the blockchain technology to its knees. The high amount of time it takes most of the contemporary blockchain networks to confirm and process transactions can be traced to the process or situation whereby all the nodes involved in the blockchain network will have to individually approve a record and reach a consensus before the record is added to the chain. Therefore, the more nodes involved in a blockchain network, the more the transaction processing time which is the hallmark and trade in stock of most blockchain networks and which has contributed to increase in gas and transaction fees on the affected blockchain networks.
Ethereum Classic Vision To Make a Difference……
High transaction fees and high transaction processing time remains one of the top Achilles' heels of the promising blockchain technology and it's very inimical to the survival and acceptance of this technology, hence in order to tackle this shortfall of the blockchain technology headlong, a new version of the Ethereum blockchain technology is on the way to remedy the ugly scenario. This new version of the Ethereum blockachin network in question is called the Ethereum Classic Vision; Ethereum Classic Vision is here to provide solution to the scalability problems of the contemporary blockchain networks by bringing and implementing a new architecture design of the blockchain's nodes. It's a common knowledge that nodes of the blockchain protocol plays a vital role in records confirmation or validation, however the prevalent validation technique whereby any transaction must pass through each of the blockchain’s network nodes before a consensus and confirmation is attained remains a key to the occurrence of high transaction processing time associated with the present blockchain networks. Ethereum Classic Vision intends to break down or organize the various nodes involved in records validation into smaller units or groups known as shards. Each shard is assigned to process designated transactions, that is, every shard on the blockchain network has its own dedicated transaction to process, hence a transaction does not necessarily need to pass through all the whole nodes of the network before being validated, rather for a transaction to be validated, it must be processed within any of the shards that make up the blockchain network. Validating records through shards allows the transactions to pass through or be approved through fewer nodes in contrast to higher nodes in a blockchain network that doesn’t implement sharding , hence due to the fewer number of nodes involved in the blocks validation of the Ethereum Classic Vision blockchain network, low transaction processing time is achieved, leading to higher output efficiency, lower transaction fees, lesser gas fees as well as higher scalability.
News on Ethereum Classic Vision Coins
Free Ethereum Classic Vision Coins will be distributed to holders of the ETH currency on private wallets and it will commence after the snapshot of the Ethereum blockchain network scheduled to take place by 11th January, 2019. Holders of the Ethereum Classic Vision Coin (ETCV) shall be eligible to trade their coins after the snapshot period.
Hard fork Ethereum - Ethereum Classic Vision - 11.01.19
Here are links for more information:
Whitepaper
https://ethereumcv.io/whitepaper.pdf
Website
https://ethereumcv.io/#subscribe
My Bitcointalk Profile link
https://bitcointalk.org/index.php?action=profile;u=2047938;sa=summary