ETCDEV ceases its operations due to funding problems

«A leading company in the development of Ethereum Classic with a focus on decentralized computing, providing long-term support for the blockchain ETC» ETCDEV, closed on Monday. Wrote about this in Twitter’s founder and CTO Igor Artamonov.

«It is with great regret that I announce about stopping the current activities ETCDEV related to Ethereum Classic. The decision shall enter into force without delay,» he writes.

Artamonov confirmed that the project has experienced funding problems in recent weeks.

«It was partly due to the fall of the market and exacerbated by a shortage of funds in the company, he added. We turned to investors in the ecosystem and external sources. We also appealed to the public Fund, but these measures proved insufficient to ensure short-term funding».

On account ETCDEV projects such as the Classic client Geth, effective after the fork The DAO, that is, since the Foundation of the cryptocurrency, the platform for the developers of Emerald, which allows you to quickly and seamlessly go from creating mobile and web applications to develop decentralized applications, popular wallet Emerald Wallet and the implementation of the Ethereum virtual machine called SputnikVM.

An hour before the announcement Artamonova in the official account on Twitter Ethereum Classic was published the invitation to the meetup of canadian teams ETCDEV and DCTRL, which was to be held on Thursday. A day in the same account there was a message about the latest developments Emerald.

It is worth noting that ETCDEV was the main but not the only team Ethereum Classic. To support the cryptocurrency continues IOHK Grothendieck. Also currently operate in the financial Department ETC Cooperative and Ethereum Classic Labs.

In conclusion, Artamonov thanked worked with it developers and other people supporting the project over two and a half years.

Ethereum Classic reduces along with the broader cryptocurrency market this Tuesday and the last day lost about 4.5% of the cost.


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