Ethereum Classic Community Divided Over Charles Hoskinson’s Proposed Treasury Protocol By Cointelegraph

Ethereum Classic Community Divided Over Charles Hoskinson’s Proposed Treasury Protocol


Ethereum Classic Community Divided Over Charles Hoskinson’s Proposed Treasury Protocol

Charles Hoskinson presented his idea for a decentralized treasury protocol to the (ETC) community during a Discord call on August 13. Hoskinson, who is the founder of (ADA) and one of the co-founders of , strongly believes that setting up an independent source of funding for development and innovation can ensure the prosperity of ETC.

Hoskinson’s proposal to change ETC’s block reward allocation would mean that instead of rewards going entirely to the network’s miners, blocks would allocate a portion of every reward to a newly-created decentralized treasury. This treasury would then be used to finance future development of the ecosystem. IOHK, a company which Hoskinson runs, has also apparently developed a technology that would prevent future 51% attacks.

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