Altcoins Talks - Cryptocurrency Forum
Cryptocurrency Ecosystem => Other Popular Cryptos / Coins => Topic started by: Pegasus on October 18, 2018, 07:37:09 PM
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EOS Classic drew the ire of the crypto community that followed the project by suddenly announcing that it is wrapping up all activity. EOS Classic is the Ethereum-based version of EOS, and had promised a form of mining and rewards. The project remained relatively obscure.
Miners! We are closing this project due to coin name conflict with EOSIO and EOS Force, EOS Classic ERC20 token project
— EOS Classic (@eosclassicio) October 18, 2018
Until now, there have been no lawsuits concerning the usage of the EOS moniker, which has been given to all distributed apps and alternative tokens within the ecosystem. The move created a lot of noise on social media, with many suggesting that EOS Classic is performing a kind of exit scam. The EOS Classic website is already down.
On October 14, EOS Classic warned miners to stop their activity, as the project would move from pre-mainnet to mainnet, and take a snapshot of balances. Since the summer of 2018, EOS Classic miners managed to collect large holdings, which, however, saw no real market activity.
For days, miners reported troubles with the network on the Bitcointalk forum thread. In the past, EOS Classic has been called a scam, but now the sudden closing of the servers has been taken as a certain sign.
EOS Classic appealed to Russian miners, which awaited an exchange listing for the asset. However, the token has no discernible market price.
The closing of Ethereum Classic may have a limited effect on the crypto community, as the token is not traded. The EOS Classic tokens were created out of thin air and distributed as an airdrop or as rewards for mining. Mentions of selling the tokens to peers have been seen, but the biggest losses were to miners who used up their equipment.
EOS Classic posed a mystery, since it is a token running on the Ethereum blockchain, and yet required a process of mining.
Source (https://cryptovest.com/news/eos-classic-suddenly-closes-citing-name-conflict/)