The team of Etherzero, as was announced in a vehement and therefore predictable, decided to proceed with the cancellation of the fork on January 19, since according to some rumors Etherzero predicted possible weakening of reputation, since there would be complications with the exchanges, which would not have accepted the new cryptocurrency.
The EtherZero Team, currently, is made up of 20 people from different countries, such as India and Eastern Europe, and most of the team members are professional DAPP developers, although to be honest they are not famous. The project, however, does not end here: there is a rumor that the Etherzero team has already started working on a new, completely innovative ICO. In fact, at this juncture, the market feels the skepticism of the people concerned: many of the cryptocurrencies are showing downward prices but the only one to have maintained its respectable position was Ethereum, perhaps because of the new hard fork announced and then denied.
But let’s talk about the new proposed fork. The hard fork had as its goal the birth of a new cryptocurrency, the EtherZero (with symbol ETZ) and would be distributed in 116 million tokens, with an increase of 5% every year, all to try to stabilize in the long term, the price of ETZ around 10% of the value of Ethereum. In fact, if EtherZero makes its market value about 10% of Ethereum, the unit price of ETZ would reach 70 US dollars, at least in theory.
Ethereum and Etherzero: what changes.
The new Etherzero could lead to immediate payments, thanks to a scalable two-layer network: we understand how this represents a good step forward for Ethereum, since (as mentioned above) the price of Ethereum would have increased in all likelihood. The block size would always be 2 megabytes and the consent algorithm always Proof-of-Work.
The new cryptocurrency ETZ would have entered the exchanges as Binance and would have been supported by wallets like Trezor, Ledger Nano and others, and every holder of ETH at the fork would have received as many ETZs.
This hard fork would have generated such a boost that the main investors would launch in the purchase of Ethereum with a consequent increase in value, and the circle closes. The ETZ fork is not the only one: there are many Bitcoin forks currently only a few fork of Ethereum. However, such forks had problems that resulted in the loss of trust of many commercial platforms. However, at least this time, the new fork of Ethereum would have to change the situation, making it become bigger Ethereum. The road map should have started in January 2018 and ended in 2019, with many intermediate stages, but apparently it will not be done.