Ethereum Classic (ETC) is a permission less, decentralised, secure, and censorship-resistant blockchain, which is the continuation of the original Ethereum stack launched in 2015. After the DAO (Decentralized Autonomous Organisation) controversy, the Ethereum project split into two – Ethereum (ETH) and Ethereum Classic over ideological differences and how to resolve them. The underlying objective and infrastructure are the same – to provide a public platform to run smart contracts and decentralised apps or dApps. ETC donates Ethereum Classic token.
Official Website: Click here.
Ethereum Classic (ETC) Current Stats.
Let’s have some stats on Ethereum Classic.
ETC Current price:
Current price of ETC is $55.54(price may be different as market fluctuations).
ETC Market Cap:
Market cap of ETC is $6.4 Billion.
Maximum supply of ETC:
Maximum supply of ETC is 210 Million Tokens.
Ethereum Classic (ETC) Pros and Cons.
Every crypto has their Advantages and Disadvantages, ETC also have some, lets discuss them.
Pros of ETC:
- Relatively long history (launched in 2015) with small but dedicated users rooted in similar ideological beliefs.
- Since it is technologically similar to Ethereum, the chain is highly interoperable with the Ethereum chain and its dApps.
- Once Ethereum switches to a Proof of Stake (PoS) model, Ethereum Classic will be the only Proof of Work (PoW) smart contract platform on the market, potentially leading to an uptick in miner participation, and thus security.
Cons of ETC:
- Fell significantly behind Ethereum post-fork in terms of community interest, developer activity, users, dApps, mining security, and overall project health.
- Suffered at least four successful 51% attacks, deteriorating trust in the network and requiring weeks for a transaction to be successfully completed and validated.
- Wealth centralization is among the highest compared to other top-20 cryptocurrencies (Gini Coefficient of 0.75).
- Low developer activity and nonexistent dApp ecosystem.
- After one of the development arms of the project, ETCDev, shut down due to lack of funds in 2018, only two development teams remain actively working the project.
From where you can buy or trade Ethereum Classic (ETC)?
There are many applications and platforms from where you can buy or trade ETC. Some of them are,
- Coinswitch Kuber
Investing in ETC is worth or not?
Ethereum Classic is a good investment for blockchain enthusiasts who believe that blockchains shouldn’t be altered and investors who want to diversify their portfolios, particularly in times of economic turmoil. Ethereum Classic Labs supports the OriginalMy project that aims to facilitate the process of collecting digital signatures and tackling fraud beyond borders, which can improve local and international processes during the pandemic.
At the same time, investing in Ethereum Classic remains fairly risky in terms of security. Despite its potential, Ethereum Classic has fallen victim to several 51% attacks, which has resulted in a deteriorating trust in ETC. It’s probably the biggest concern with ETC, particularly because a 51% attack led to its creation. In the end, there’s no 100% safe investment, so investors should exercise due diligence and only invest what they are comfortable with risking.
Ethereum Classic (ETC) future.
If you are considering buying Ethereum Classic (ETC), then you might want to know how much it could be worth. Ethereum Classic started 2021 with a price of $5.70. Prices may increase further, as ETC is trying to improve its interoperability with other blockchains and security.
Some believe that by the end of 2021, Ethereum Classic might hit the $15 mark. According to The Economy Forecast Agency, however, Ethereum Classic ETC might end 2021 with a price of $95.6. Trading Beasts, on the other hand, suggests that ETC might be trading at $73.894 by the end of 2021.