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Foxconn And Ethereum Classic (ETC): A Match Made In IOT (Internet Of Things)

Foxconn And Ethereum Classic (ETC): A Match Made In IOT (Internet Of Things)
Breaking News / Cryptocoins / Analytics / Ethereum Classic

Chart for ETC/BTC (1W)

A cryptocurrency is judged based on the number of Dapps or partnerships it has in this market. If it is a ‘centralized’ cryptocurrency like Ethereum (ETH) or Ripple (XRP) their teams announce those ‘partnerships’ and we hear about it. However, if it is a decentralized cryptocurrency like Ethereum Classic (ETC) there is no one to announce any partnership because nobody owns Ethereum Classic (ETC) and we have to do our own digging. How would it look if a group of developers working on Bitcoin (BTC) announce that they have partnered with Newegg or Starbucks to accept Bitcoin? Now, a lot of these groups are going to work towards Bitcoin (BTC)’s adoption but they are not going to sign deals on behalf of Bitcoin (BTC) like they own it. They just work on it.

Ethereum Classic (ETC) is perhaps the only cryptocurrency in the market which is similar to Bitcoin (BTC) in this way. ETC Dev did a wonderful job working on Ethereum Classic (ETC). In fact, they were one of the first to pick it up when the project was left to die after Ethereum (ETH) forked off the original chain. However, it needs to be understood that ETC Dev is not Ethereum Classic (ETC). It was just one of the groups working on Ethereum Classic (ETC) alongside ETC Labs, IOHK and others. A lot of people seem to think that ETC Dev quit because of money troubles but this is not true. ETC Dev worked on this project when there was no one to fund anything. Recently, they were able to count on DFG, DCG or other groups for support, but in the past they had no one to support them yet they continued to work.

Chart for ETC/USD (1D)

When something survives against all odds to grow this big, people take note. Think about it, Ethereum Classic (ETC) does not have one significant Dapp but it is still the 15th largest coin by market cap. It is usually in the top ten in terms of trading volume. The interest in Ethereum Classic (ETC) is not from retail investors. Most of them think it’s a scam or a dead coin, with no Dapps or anything useful. The interest in this cryptocurrency comes from the institutions that see it is a major player in the Internet of Things (IOT) space in the years to come. This is why HCM Foxconn has thrown its full weight behind Ethereum Classic (ETC).

Igor Artamonov and ETC Dev left this month but the people who wanted to steer the direction of Ethereum Classic (ETC) development have been planning this for a long time. When they realized that Ethereum Classic (ETC) had a real shot at becoming the face of IOT (Internet of Things, they launched ETC Labs to make it happen. ETC Labs is already busy funding and developing promising Dapps in fields beyond the blockchain like AR (Augmented Reality), AI (Artificial Intelligence) and IOT (Internet of Things) to position Ethereum Classic (ETC) at the forefront of the fourth industrial revolution.

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