15 January 2019 11:18, UTC

On January 14, the blog post by the Ethereum Classic Labs incubator stated that ETC Labs Core, a new Ethereum Classic (ETC) development team, has been established. According to the statement, the team will work on the main ETC projects, supporting the blockchain and creating tools for decentralized applications, mining, and other services.

According to the statement, the team will focus on the ECIP-1045 project for the Ethereum Classic network upgrade in the first quarter of 2019. The Ethereum hard-fork project (ETH) called Constantinople will be reviewed, and after that, the team will introduce support for some parts of Ethereum’s Byzantium and Constantinople upgrades on the ETC network.

ETC Labs Core will also work on chains monitoring and analyze the situation after the “51% attack” which is said to have happened on ETC network in January of this year. According to independent analysts, the attack inflicted losses of more than $1,1 mln. ETC developers have denied the attack, stating that double spending did not occur. However, they asked the exchanges and mining pools to increase the time to confirm deposits and withdrawals significantly.

The reason for creating a new development group could be the shutdown of the ETCDEV team in December 2018. At that time, Igor ARTAMONOV, the ETCDEV team founder, claimed they could not continue working and were forced to cease operations due to the cash crunch in the company.

Image courtesy of Open Ledger

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