Ethereum Basic–Upcoming Ethereum Fork for better governance

ethereum basic

Ethereum Basic is fork of Ethereum, which is second most popular cryptocurrency by marketcap. While Ethereum is the first turing complete cryptocurrency with smart contracts, it is still plagued with problems related to scaling, difficulty bomb, PoS consensus, ASIC mining and high gas fees.

Ethereum Basic is a new cryptocurrency that focuses in resolving the aforementioned issues and more. The team behind Ethereum Basic knows that all the current Ethereum proposals might take many years before they are actually implemented and due to that, the entire network will remain slow and transaction fees volatility will stay high.

Ethereum Basic promotes decentralized governance to speed up implementations. Here are the problems that Ethereum Basic is trying to solve.

– 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.

The developers behind Ethereum Basic also propose to launch a decentralized exchange, XDEX that will be listing quality tokens running on its platform for free. This decentralized exchange will follow order matching protocol that will work in conjunction with the amazing 0X protocol.

Ethereum Basic links:

  paxful

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