Would Ethereum Classic (ETC) be more popular if it removed Ethereum from its name? A developer seems to think so. Stevan Lohja, one of the devs from the ETC team, has recently affirmed on social media that other altcoins with a higher market value would be “rekt” if ETC decided to change its name.
Opinion: Many #cryptocurrency in the top market cap would be absolutely #Rekt by #EthereumClassic if we removed #Ethereum from the brand. I know we are original Ethereum project, but maybe this can be water cooler chatter at summit eh? 🇨🇦
— Stevan Lohja (@stevanlohja) August 11, 2019
The name Ethereum Classic was created after the hard fork in which some ETH users decided not to change the protocol after the DAO scandal back in 2016. The association with Ethereum, however, seems to be a problem for the token now.
Because of this, some people have started to affirm that the Ethereum name should be completely removed and that a rebrand is needed. Yaz Khoury, the director of the ETC Cooperate, agrees with that. He affirms that he has “always advocated” for the token to change its name because it needs a proper identity.
I always advocated changing the currency names. The network name can change organically if we start calling the currency itself something else.
— Yaz Khoury (@Yazanator) August 12, 2019
The best opportunity to discuss this further would be at the ETC Classic Summit, which is already set to happen in Vancouver, Canada, on October 3 to 4.
Names are important. It was proved that cryptos with three-letter symbols which are easier to remember will tend to fare better and that companies that associate their business with Bitcoin or blockchain tend to get more profits.
Because of this, a rebrand might be the way to go forward. At the moment. ETC is the 21st token by market cap, so the name change might not put into the Top 10 tokens as the developers seem to believe, but it may bring some important freshness to the brand.