It's an undisputable fact that all activities here on earth would come to a halt if the earth's ecosystem and environment is unsecured and this poses a threat to human existence. There has been concerns over some activities of man on earth that serve as threat to his immediate environment, such dangerous activities include the increase in the rate if carbon emission into the environment. The increased rate of carbon emission into the earth's environment has resulted to serious and life threatening climate changes such as reduced rainfall, high temperatures and the continuous melting of the iced polar regions of the world. The blockchain technology is in no doubt one of the major breakthroughs in tech innovations over the past decade, the blockchain technology in a great deal enforces trustless processes or transactions in any activity involving two or more parties; in fact this technology can be regarded as a disciple of decentralization and trustless events!!! But it is disheartening and rather unfortunate that the blockchain technology appears to be contributing to the degrading conditions of the earth's environment. Majority of blockchain networks consume a lot of electricity as a result of the proof of work transaction confirmation technique used by these blockchain networks to add new blocks or records to their networks. Some of the electricity generating plants or engines that power the mining processes of these blockchain networks are being run by fossil fuel and it is very clear that the burning of fossil fuel emits substantial amount of carbon into the environment hence it is not out of place to state that the operations of the present blockchain networks constitute a threat to the environment , therefore there is an urgent need to rejig the operations of the blockchain technology to be more environmentally friendly!!!
A New Dawn with Ethereum Classic Vision
The threat posed to the earth's environment following the emission of substantial carbon to the earth's environment as a result of the many fossil fuel energy generating plants that power the operations of the present blockchain networks can be seen as a thicking time bomb waiting for detonation and of which the consequences are even gradually been made manifest. Following this development, the developers of the Ethereum Classic Vision blockchain network, which is a new version of the Ethereum blockchain network deemed it fit to steer away those unfriendly environmental activities associated with other blockchain networks from the Ethereum Classic Vision. The Ethereum Classic Vision blockchain network unlike its other blockchain network counterparts employs a much more lesser electricity consuming technique as its consensus or block validation algorithm. Ethereum Classic Vision blockchain network, in its early inception stage is expected to run on the proof of work consensus algorithm, subsequently the Ethereum Classic Vision blockchain network would now be upgraded to using a less energy consuming consensus algorithm known as proof of stake to validate blocks of record on its chain. The use of proof stake algorithm as a blockchain consensus algorithm does not pose a threat to the earth's ecosystem because it does not require the services of high energy consuming and complex computers for solving complex mathematical functions in order to validate records rather the proof of stake consensus algorithm is based on the number or quantity of cryptocurrency a mining node can afford in order to be selected as the node that will validate a record and thus can be done with non complex and lesser energy consuming computing gadgets. At this juncture, it is crystal clear that the Ethereum Classic Vision blockchain network remains the right formular towards achieving an environmentally friendly blockchain network and this will also help to push further the applications of the blockchain technology in various facets of life because of its earth’s ecosystem friendly operations courtesy of the Ethereum Classic Vision blockchain network. It is equally worthy of note that the cryptocurrency associated with the Ethereum Classic Vision blockchain would witness a reign of price stability because with proof of stake being a consensus algorithm on the Ethereum Classic Vision chain, miners wouldn’t be moved to trade their cryptocurrency/coin because the more coins a miner has the better chance the miner stands to be selected as a block validator and this means more reward to the miner, therefore since there wouldn’t be much cryptocurrency from the Ethereum Classic Vision blockchain's miners flowing into the exchange platform, the cryptocurrency associated with the Ethereum Classic Vision blockchain wouldn’t be under pressure at the exhnage market hence resulting to price stability of the cryptocurrency.
ETCV Coins: Holders of the ETH cryptocurrency shall upon the snapshot of the Ethereum blockchain on January 11th 2019 receive for free the ETCV coin and subsequently the ETCV coins will be listed across several exchanges so that its holders can trade their ETCV coins.
Hard fork Ethereum - Ethereum Classic Vision - 11.01.19
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