Ethereum Traditional Labs’ Stevan Lohja says that many prime cryptos could be “rekt” by Ethereum Traditional (ETC) if it eliminated “Ethereum” from its identify.
In a tweet posted on Aug. 11, Lohja — who works as know-how coordinator at Ethereum Traditional Labs — wrote:
“Opinion: Many #cryptocurrency within the prime market cap could be completely #Rekt by #EthereumClassic if we eliminated #Ethereum from the model. I do know we’re unique Ethereum challenge, however perhaps this may be water cooler chatter at summit eh?”
As Cointelegraph has beforehand reported, Lohja’s reminder that Ethereum Traditional is the unique Ethereum challenge refers to the truth that the coin runs on the unique model of the blockchain, earlier than it was laborious forked in 2016 in response to the DAO scandal.
After the laborious fork, “Traditional” was added to the cryptocurrency’s identify to tell apart it from its successor, Ether (ETH).
With Ether presently ranked largest altcoin by market cap, Ethereum Traditional lags a way behind in its 21st spot rating.
Lohja’s suggestion that the coin ought to dissociate itself fully from the Ethereum challenge when it comes to its branding with a purpose to see market cap beneficial properties was met by assist by Yaz Khoury, director of the Ethereum Traditional non-profit ETC Cooperative, who responded:
“I at all times advocated altering the foreign money names. The community identify can change organically if we begin calling the foreign money itself one thing else.”
The ETC Traditional Summit — to be held in Vancouver, Canada — is deliberate for October 3-4.
Names and past
Inside an rising sector, the query of names is a matter of heated deliberation as completely different currencies, belongings and tokens try to differentiate themselves and vie for adoption.
Even an emblem is perceived to have a significance for a cryptocurrency’s useability: this August, some business commentators argued that Bitcoin (BTC)’s potential for on a regular basis retail funds could be higher served if there have been a consensus to formalize the image used to indicate its smallest unit, the Satoshi — or 100 millionth of 1 Bitcoin.
This Might, one research appeared to point that the readability of a cryptocurrency’s three-letter lengthy ticker image positively correlates with greater returns.
Notoriously, there has additionally been speak of firms allegedly making an attempt to money in on the hype by together with “Blockchain” or “Bitcoin” of their names.
With business classifications nonetheless evolving, names for asset varieties can themselves differ both based on geographical jurisdiction or to their performance.