Yesterday, Ethereum Classic Labs announced via Twitter that their San Francisco office was progressing well and that developers can now lease space, apply for funding, and seek support from the community for whatever Depp’s ideas they have and want to develop on ETC. The positive progress of this office is a big deal for the ETC ecosystem in a number of ways.
That’s because San Francisco is home to some of the best brains in tech. It has accumulated enough human capital in technology that gives this area a huge network effect in tech. That’s why most startups that end up becoming global corporations are almost always born in this area. In essence, by setting up an office here, complete with funding and community support, Ethereum Classic (ETC) could see world-changing decentralization applications emerge from this office. That’s because ETC will draw in world-class developers and thinkers, people who could create the next Facebook, Apple or Amazon kind of companies on the ETC blockchain.
Once these brains start flowing in and creating Dapps on the Ethereum Classic blockchain, the value of Ethereum Classic (ETC) will rise significantly. It will rise because Ethereum Classic is primarily a Dapps platform. This means that the higher the number and quality of Dapp’s building on this blockchain, the higher its intrinsic value in the market.
But given all the problems that platform blockchains have, such as scalability and security, is ETC ready for an influx of world-changing Dapps that could emerge from their SF office? Well, going by the core fundamentals of this blockchain, it is without a doubt ready for the rise of such applications. One of the key strengths of the Ethereum Classic (ETC) blockchain is its immutability. Ethereum Classic is immutable, which means that accounts on this blockchain cannot be edited. This is a major strength that gives it an edge in the development of Dapps targeted at industries like finance. In essence, investors can be sure that some top brains will come up with a revolutionary finance Dapp built on the ETC blockchain and change the world, while at the same time giving huge value to the Ethereum Classic blockchain.
On top of that, the Ethereum Classic (ETC) blockchain is working on sidechains, as a way to scale. This will reduce the load on the main chain, thereby preventing the network from clogging due to overloads. This aspect to Ethereum Classic (ETC) will serve to draw in top brains eager to develop world-changing decentralized applications without having to worry about network efficiency.
Based on the above factors, it is clear that the ideas that will be seeking funding from Ethereum Classic cooperative in the SF office are something that ETC investors should keep an eye on. They could be the trigger that gives ETC the impetus to grow in value going into the future. As major Dapps start building on the ETC blockchain, its value could hit triple digits. Ethereum Classic (ETC) has what it takes to hit a valuation of $100 in the future. Ethereum (ETH), which has a large number of Dapps and has a lot in common with ETC hit an all-time high of over $1500 in the last Bull Run. As such, once major Dapps start building on ETC, it also stands a good chance of making similar gains.
At the moment, Ethereum Classic (ETC) seems to have established strong support at $10, an indicator that an ETC bull run is on the way.