What is EtherZero – A Scammy ETH Fork or a Legit Project?

EtherZero Intro

It is familiar that Ethereum is in the top three of digital currencies and rules the virtual scene recently. But to be at the top and go along with your crypto rivals, you have to constantly develop and launch new products and improve your currency’s features.

Ethereum’s initial soft fork had security weaknesses in the voting process, that fact triggered the process of making a hard fork with a new structure and rules as well as forcing all its users to decide either to use the old or a new fork.

A new Etherum’s fork named Ethereum Zero planned for releasing in January this year is a new working project of 20 unknown people, which was announced as the most successful hard fork ever.

Interesting fact is, that Ethereum’s official site and Ethereum’s development team got no comments on this topic. Therefore this brought some speculations about the whole project that is labeled as scam. We will focus on the project in this article not the mentioned “gossips”. Look at the following video and get your own opinion.

EtherZero Official Video

Here the project is labeled as the “next generation of smart contract platform” built to have all the necessary features that Dapp users need, such as zero fees, high scalability, instant transactions’ paying, high and fast TPS and double layer network system. Some of the Ethereums’ traditional features will be omitted in the new platform as well as the old gas paying system in order to highlight the decentralized applications. The Dash’s masternodes will be pointed out and extended, which will economically broaden this system, maintain and level up the price of the coin. The developers are aiming to raise the market value of EtherZero at 10%.

Everything looks pretty serious and ambitious, but everyone think, who is “behind the scene” and is it for real. It is a fact that, there is a number of ETZ benefits comparing to ETH , but there are still some things that don’t fit, like the exchanges which don’t have an intention to add the ETZ, the blockchain community’s rejection the ETZ according to some technical issues, Metamask blocking the site etc. The community is divided as well on this topic.

EtherZero

There are many questions circulating among the crypto community and the potential users, who will use ETZ, who needs ETZ and in which purpose, what is developers goal-to save Ethereum’s network  from overcrowding or something else.

Two the most important parts of the puzzle- speed and transactions costs, which attract the potential users, who are hunting the lowest  transaction costs and high speed in order to acquire some profit.

IT blog 7Labs on its Facebook page connects ETZ developers with the SmartPlay.tech project. The SmartPlay.tech project could be one of the ETZM’s “addicts”, because of its players number and the small bets, which force them to use ETZ fork to save its network issues,there are some indications according to the  last article of the project.

We can notice, that above mentioned projects are pretty similar to each other. Anonymity and project structure similarity, lead us to a question- Is it possible that, same developers are working behind this projects’ “curtain”.

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CaptainAltcoin's writers and guest post authors may or may not have a vested interest in any of the mentioned projects and businesses. None of the content on CaptainAltcoin is investment advice nor is it a replacement for advice from a certified financial planner.

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