Part of the Ethereum classic [ETC] development roadmap is to fully implement the Emerald project, and one of its milestones will be achieved on the 30th of April. On this date, the Ethereum development team will release a beta version of the Emerald wallet.
The idea behind this wallet is to create an environment where user transactions can be verified in a trustless manner. As things stand, there is no wallet that can do this for Ethereum classic users, making it a major handicap to the growth of this crypto. It’s a handicap because without a trustless way to verify transactions, security and privacy become a major concern for anyone looking to transact in ETC.
But the Emerald project is way bigger than the wallet. It encompasses a number of other features, all aimed at making Ethereum classic [ETC] more relevant and competitive in the smart contracts space. For instance, it is also focused on creating a common platform for Dapps developers on the ETC blockchain. As things stand, there is no common standard for developing decentralized applications on ETC. If a developer wants to create a Dapp on ETC, they have to first create the entire framework from scratch, which is not only time consuming, but also expensive.
So what does all this mean for ETC? Well, for a start, the launch of the ETC wallet will play a role in increasing the number of users trading in ETC. That’s because there will be an increased sense of security when sending transactions via this platform. In the crypto world where hackers are always trying to steal coins, this is definitely a welcome break.
The emerald project will also be the silver lining that drives up the number of Dapps running on the Ethereum classic blockchain. That’s because developers will find it easier to work on their project under a common framework and infrastructure. Once this achieved, ETC will be at par with other Dapps blockchains such as ETH and Lisk in terms of ease of use.
From a price perspective, the Emerald wallet and the Emerald project in general are a game changer to the value of ETC. Up to this point, Ethereum Classic [ETC] has managed to hold its value despite being highly inefficient for Dapps developers, and users. That’s an indicator that there is a strong community of investors who believe in the future of ETC. Once Emerald is fully implemented, more investments will likely flow into ETC, and its value will surge.
There is every indication of a major bull run in the horizon. In the past one week, ETC has broken above the longer-term resistance of $17 on the 50-day moving average. That’s a pointer to an increased buying pressure in the market. Volumes have increased too, rising from $215 million to current volumes of $225 million. As we approach the Emerald wallet D-day, these volumes are likely to keep growing, and so will the ETC value. It’s a good time to invest in Ethereum Classic [ETC].