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An Austrian development group targets to raise $2Mln in a crowdsale starting October 28 to create new DApps on the Ethereum Classic.
The presale for Borg DAO token began on Monday, October 17, and will be followed by a 30-day crowdsale starting on Friday, October 28.
The company, Austrian development group Livant Labs, targets to raise $2mln in a crowdsale to create new DApps on the Ethereum Classic.
The controversy between Ethereum(ETH) and Ethereum Classic (ETC) continues to linger as different factions within the community continue developing their diverse procedures.
Andreas Schuetz, CEO of Livant Labs says:
“A number of DApp developers have declared their intention to limit contributions solely to one Ethereum Blockchain, and the Borg DAO will help to fill this market niche on Ethereum Classic. The reliable adherence to solid technical principles serves as a strong foundation for applications that require decentralization.”
Ethereum Classic (ETC) was created through a fork of the Ethereum Blockchain in late July, 2016, in response to the Ethereum (ETH) development team “rolling back” Ethereum’s so-called immutable Blockchain to reverse a rogue transaction that occurred when an ambitious, but poorly coded, project called simply “theDAO” was hacked and $60 mln of Ethereum was moved into a private wallet.
Reaching a consensus of how to resolve the problem at the time seemed an insurmountable task as stakeholders within the Ethereum community could not agree on a particular solution.
Ethereum Classic(ETC) has continued to grow and boasts a current market cap of $85mln.
Recent among the developing events on the Blockchain is the initiative by Borg DAO to boost development of new decentralized applications (“DApps”) on Ethereum Classic.
In their announcement, the creators of Borg DAO say that developers will be paid according to a predetermined rate that is individually set for every DApp. Also, it states clearly that developers can claim their payments once a DApp has been fully set up and transparently integrated into the Borg DAO payment structure.
With persistent arguments hovering over the foundational problems that may bother the Ethereum platform, Schuetz promises to present the system’s capabilities at CoinAgenda 2016, which takes place at Bally’s Las Vegas from October 26-28.
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