A leading company in the development of the Ethereum fork Classic (ETC) “ETC Dev Team” has closed. This was reported in the Twitter of its founder and technical Director Igor Artamonov.
“It is with great regret that I announce about stopping the current activities ETCDEV related to Ethereum Classic. The decision comes into force immediately”, — he wrote.
Artamonov said that in recent weeks the company had funding problems, partly due to the rapid collapse of the cryptocurrency market.
“It was partly due to the fall of the market and exacerbated by a shortage of funds in the company. We turned to investors in the ecosystem and external sources. We also appealed to the public Fund, but these measures proved insufficient to ensure short-term financing,” he explained.
Team ETCDEV engaged in projects such as the Classic client Geth platform for the developers of Emerald, popular wallet Emerald Wallet and the implementation of the Ethereum virtual machine called SputnikVM. ETC Dev team was headed by Igor Artamonov (Splix). The team consisted of six paid developers Go and Rust. ETC Dev Team also includes five unpaid consultants, strategic analyst and marketing Manager.
However, the rate of ETC is not particularly reacted to the news and declines within the market trends.