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EMC2 Mind Blowing Announcement is “Change In Mining Algorithm”

EMC2 Mind Blowing Announcement

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EMC2 Mind Blowing Announcement: Hardfork 2

 

As per their earlier tweets, EMC2 mind blowing announcement is finally out in the open.

On 19th Dec–as promised–EMC2 made the announcement public where they declared changes in their mining algorithm.

The new mining algorithm is going to be "ASIC resistant and GPU friendly".

They are currently in the process of partnering with a company, in order to create miners & the new algorithm.

The decision, as per EMC2, was based on the following major reasons: 

α:  EMC2 wants to remain at the forefront of the cryptography technological advancements, in order to develop the features.

β: They want encourage students to easily set up an EMC2 miner, enjoy and learn about mining, and save the coins to pay for their tuition/expenses.

They stated that the main reason for this update was to "make our chain more accessible to everyone".

EMC2 is trying hard to spread the hash rate and unite developers and users to make EMC2 more accessible to people around the globe.

The Einsteinium foundation is also thinking of bringing out "Master Nodes", sometime in the future.

"EMC2 Foundation  is  researching the implementation of master nodes that would come at the same release with the new Algo."

Impact on EMC2 Prices

 

A lot of hype and anticipation had got built up, towards this "Mind Blowing Announcement". As a beneficiary to that, EMC2 has been witnessing a lot of price action.

Right before the previous Hard Fork, EMC2's price had risen to its all time high value of around $2.77. A similar price rally was expected of this announcement as well. But investors/market did not take this announcement too happily, as the price plummeted immediately!

Current price for EMC2 is $1.51, down by 37.67% from its yesterday's price.

EMC2's Clarification

 

Later on, having received a lot of flak from the community, EMC2 came out with their written clarifications on their supposed mind blowing announcement. 

They stated that the most important part of their foundation is the community. Further more they clarified by saying:

"We would like to clarify that the excitement about Apple, or NASA did not came from the team."

In their defense, EMC2 tried to explain how they already had clarified that the announcement is not about Apple. “The announcement is not about Apple at this time”

Previously, they had responded by saying “How great would it be if it’s about Apple”.

"Needless to say we are sorry that you do not feel that the news was sufficient enough"

Picture Credits 1 & 2