The ETC Cooperative 2024 Retrospective Report

We are happy to release the ETC Cooperative’s Retrospective for 2024.

• ETC Coop 2024 Retrospective

The 2024 development cycle for Ethereum Classic (ETC) focused on enhancing infrastructure reliability, ensuring client stability, and supporting the ecosystem. Key achievements include improvements in Core-Geth, Besu, and monitoring systems, which contributed to the network’s growth and stability. Marketing efforts centered around the PoW Summit, the conclusion of the ETC Grants DAO Program, and various cooperative marketing initiatives.

Key Highlights:

• PoW Summit: Held in September 2024, the summit, in partnership with the Litecoin Foundation, emphasized Proof of Work (PoW) technology, addressing misconceptions and its role in financial freedom.
• ETC Grants Program: The ETC Grants DAO, launched in 2023, had limited success in its open round but issued ad-hoc grants to stablecoin projects in 2024 before the ETC Cooperative exited the program in late 2024.
• Website & Marketing: The ETC communications team maintained and expanded the website with news and updates in English and Chinese until the end of Q3.

Organizational Updates Overview:

• The crypto market downturn led to a significant decrease in the ETC Cooperative’s reserves, prompting staffing reductions in Q2 and Q3. Monthly spending was cut, and the projected runway was extended until 2027 due to cost-saving measures and rising ETC prices.
• Staffing Changes: Several positions were cut, including content and event support for the PoW Summit, social media management, and a reduction in the core development team from three to two developers.

Development & Infrastructure Overview:

The 2024 development cycle has demonstrated a strong focus on infrastructure reliability, client stability, and ecosystem support. The successful maintenance of network security, consistent hashrate, and uninterrupted services validates the effectiveness of the implemented improvements and updates. The evolution of both Core-Geth and Besu clients, coupled with enhanced monitoring capabilities and infrastructure management, positions the network well for continued growth and stability.

Throughout 2024, the Ethereum Classic network has demonstrated remarkable stability and reliability, maintaining an average hashrate of ~200 TH/s. The network has operated without any reported security incidents, while cooperative-maintained services, including RPC endpoints and block explorers, have achieved 100% uptime, providing uninterrupted service to the ecosystem.

The Client Development Evolution for Ethereum Classic (ETC) saw significant progress in both Core-Geth and Hyperledger Besu over the year.

Marketing Projects Overview:

The marketing and communications strategy for the ETC Cooperative in 2024 focused on strengthening the ETC brand, raising awareness about its benefits, and fostering an active and engaged community.

Projects:

• POW Summit: Strategic planning, media management, and event production.
• Grants DAO Program: Supported participants and promoted the program.
• ETC Cooperative Marketing: Expanded the cooperative’s presence through blog posts, social media, and community engagement.

In 2024, the editorial effort focused on publishing articles on the Ethereum Classic community website and videos on the Ethereum Classic Updates YouTube channel. Website traffic grew by 17%, reaching 33,000+ unique users per month by year-end. The YouTube channel saw an increase in subscribers from 606 to 946 and views from 33,173 to 34,186.

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