Ethereum Basic

The recent upgrades in the Ethereum network – St Petersburg and Constantinople – have been wrought with controversy and exposed many deep issues. One thing that has become clear is that true decentralization has no place in Ethereum: most developers failed to have their proposals and opinions considered. Only a few figures ultimately decided the future of the network, leading to the introduction of such controversial measures as block reward reduction. At the same time, the presence of the so-called “difficulty bomb” - even though defused for the next 12 months – functions as a pressure factor that forces miners to accept each new upgrade.
The launch of Constantinople also demonstrated that the key problems – scalability, gas fees, and efficiency – will take a very long time to be solved unless decisive measures are taken. The proposed transfer to Proof-of-Stake mining may take another several years, the network will remain slow, and the volatility of transaction fees will stay high.

Ethereum Basic is a new cryptocurrency that focuses on resolving the most urgent issues of Ethereum and at the same time promoting decentralized governance. The developers behind Ethereum Basic see the following problems as requiring immediate attention:

- Scaling: increasing network capacity using on-chain and off-chain solutions;
- Removing the difficulty bomb to decrease pressure on the miners to accept future upgrades;
- Transfer to PoS that should be complete and comprehensive, not partial as foreseen by the Casper framework;
- Implementing ASIC-resistance;
- Gas fee optimization;
- Making the network more currency-agnostic;
- More incentives for full nodes;
- Introduction of a functional voting mechanism.

A snapshot of the ETH network will be take on May 16, 2019, and 16:00 GMT. All ETH holders will be entitled to free ETBC coins at a 1:1 ratio. Please note that only personal blockchain wallets can participate in the distribution of ETBC.

Network launch date: May 26, 2019, 16:00 GMT


Welcome to the Ethereum Basic:

Website - https://ethereum-basic.com
Wallet - https://etbcwallet.com
Whitepaper - https://ethereum-basic.com/whitepaper.pdf
Github - https://github.com/ethereumbasic
Bounty - https://bitcointalk.org/index.php?topic=5141079
Twitter - https://twitter.com/EthereumBasic
Facebook - https://www.facebook.com/Ethereum-Basic-447410822676229
Telegram - https://t.me/EthereumBasic