ETCDEV CEASED ITS OPERATIONS DUE TO FUNDING PROBLEMS

The leading Ethereum Classic development company with a focus on decentralized computing, providing long-term support for ETCDEV’s blockchain ETC, closed this Monday. This was written on Twitter by its founder and technical Director Igor Artamonov. Artamonov confirmed that the project has experienced problems with funding in recent weeks.

Artamonov said:

“As is publicly known we have struggled with funding our operation in the last few weeks. This was partially due to the market crash, combined with a cash crunch in the company.

We appealed to investors in the ecosystem as well as external to it. We also did the community fund, but in none of these cases were we successful in securing short-term financing.”

Onits account ETCDEV has such projects as the Classic Geth client, operating since the DAO fork (that is, since the founding of the cryptocurrency), the Emerald developer platform, which allows you quickly and easily move from creating mobile and web applications for developing decentralized applications, the popular Emerald Wallet and the implementation of the Ethereum virtual machine called SputnikVM.

It is worth noting that ETCDEV was the main, but not the only team of Ethereum Classic developers, IOHK Grothendieck still continues the support of cryptocurrency.

In conclusion, Artamonov thanked the developers who worked with him and other people who supported the project for two and a half years.

Ethereum Classic is down along with the wider cryptocurrency market this Tuesday and has lost about 4.5% of its value in the last 24 hours.