News

The Ethereum Classic developers stop working, will this affect the future of the currency?

The latest victims of the digital currency sector amid the long downtrend market is the main developer of the classic Atrium, launched and launched in 2016.

Igor Artamonov, founder and technology manager of the Atheros Classic team, announced that the company had been closed due to lack of funding. Artamonov wrote on Twitter:

“As everyone knows, we have struggled to fund our operations in the last few weeks. This was partly due to the collapse of the market, in addition to a financing crisis in the company “

Armonov added that many attempts to find alternative sources of short-term financing have failed.

The disappointing message came a week after the Russian software development company said many startups were stumbling into the current market crisis. Artemonov wrote on 27 November on Medium:

“As everyone knows, we are going through very difficult times. When markets are lost, emerging-market funds run out. This is a big problem for most companies in our field which include our company, of course “

ETHIROM CLASSIC: Keep calm and follow the march
Six hours after the announcement of Igor Artamonov, the confirmed Twitter account for the Atherom Classic confirmed that just because the development team had stopped working, this did not mean that the aunt herself would be affected at all. It came in the twinkle:

“Keep calm and follow the march”

Like other formulations and digital currencies, the Etherium Classic has suffered huge sales in light of the current downturn in the digital currency market. This in turn has had devastating consequences for the emerging sector.

Just last week, Steemit – a platform for decentralized social media – announced that it would have drained 70% of its employees. Ned Scott, founder and CEO of Steemit, said the company’s bullish market outlook earlier this year had fallen badly due to the recent collapse.

ConsenSys sets its course of action and reduces costs
Earlier this week, ConseSys announced it would restructure its business as part of a move to streamline its business amid the downturn.

In a letter to company-level employees, Joseph Lobin, chief executive of ConsenSys, the co-founder of the company, said the company needed to cut costs, eliminate poorly performing projects and focus on creating tangible value with positive returns on investments.

With the market losing unexpectedly during the winter, many whales of the market are still uneasy, pointing out that life resembles the market itself – it is cyclical. So everyone needs to calm down and control themselves.

Barry Silbert, founder of Digital Communities, said the recent dramatic market volatility was inevitable in any new sector.

Silbert: Digital currency prices do not represent market conditions
Silbert said that you should look at the previous bubbles and corrections so that the full picture is clear to you.

“We have been through this situation 5, 6 and 7 times so far. In the first few times, our budgets fell by 80%, and this was very difficult. The third or fourth time, we got used to the situation. Now we see this as a great opportunity to buy “

Silbert pointed out that disturbances occur behind the scenes but are not reflected in changes in the prices of protein.

Tags

Related Articles

Leave a Reply

Your email address will not be published. Required fields are marked *

Close