Ethereum Classic Review

Ethereum Classic (ETC) is a distributed computing system that is open source, blockchain-based and public, it also has the smart contract feature. The Ethereum Classic name came about from a Hard fork after the DAO hack in 2016. The original Ethereum currency became Ethereum Classic while the new currency took the name Ethereum.

There is a token attached to Ethereum Classic referred to as “ether classic”, and this token can be stored in a cryptocurrency wallet, transferred to other participants, and can also be used as compensation to participant nodes for successful computations. The Ethereum Classic community intend to implement a hard cap of 230 million tokens for the cryptocurrency, with 18 million coins released every year till this limit is reached.

It may be a little difficult to purchase Ether Classic tokens using fiat currencies, however, a user can exchange for other coins like LTC, BTC, or ETH, and the procedure for exchange is simple and straightforward.

Pros

  • Ethereum Classic’s team may not be as big as Ethereum’s, but it is made up of really notable developers who have contributed immensely to the development of the system.
  • The philosophy of the immutability of the blockchain is one that the Ethereum Classic system wholly adheres to and abides by.
  • Ethereum Classic has implemented a hybrid PoW and PoS model, rather than just the PoW model. This will be very beneficial to miners.
  • Launching a smart contract on Ethereum Classic is much cheaper than launching on the Ethereum platform.
  • While Ethereum is totally dropping mining, Ethereum Classic intends to keep it because mining can be likened to giving the coins free marketing.
  • It has a variety of wallets to choose from, and Ethereum Classic is also cross-platform.

Cons

  • After the attack on Ethereum which led to the fork, there have been speculations that Ethereum Classic is full of scammers, which is a bad image for the brand.
  • It is not as widely accepted as Ethereum, and also does not have as many active users.
  • New updates have been made on the Ethereum blockchain, which Ethereum Classic has no access to.
  • Ethereum Classic may look like it is doing well at the moment, but there is still a lot of work to be done if it really wants to be relevant in and to the crypto community.
  • Has lost some its famous founders like Vitalik Buterin to Ethereum.

OVERALL COIN SCORE:

Trade Ethereum Classic

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Market Cap & Charts

  • ethereum-classic
  • Ethereum Classic
    (ETC)
  • Price
    $7.17
  • Market Cap
    760,791,529.00

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