[ad_1]
Chart for ETC / XBT (1W)
Ethereum Classic (ETC) has been completely focused on immutability and decentralization from the beginning, but in markets like these where most investors focus on quick returns rather than long-term investments in promising technologies, the concepts of immutability and decentralization were not important in themselves. However, what most investors failed to understand is that this merging of immutability and decentralization is what makes Ethereum Classic (ETC) the best solution for emerging technologies like the Internet of Things (IOT) and the Fourth Industrial Revolution .
Most blockchains today are centralized. This may be a good thing in the short term, but a long-term negative thing. For new projects that are centralized, it gives their creators more freedom and control to experiment and regulate. However, as the project evolves, it is up to the major creators and developers to give up control and allow the blockchain to become more decentralized. This was the principle by which the original Ethereum blockchain was founded. However, with the rescue of DAO, Vitalik Buterin and the developers who supported the rescue violated the first principle of immutability. Even today, among the developers and investors there is growing concern that Ethereum (ETH) is very centralized. Once you break one principle, another comes out of it, and then you are finally making compromises on a level where you are doing well by abandoning your original mission.
Renouncing immutability and decentralization could be convenient for the main developers and founders, but it comes at a serious cost. It leads to problems such as data breaches, corruption, manipulation, infighting, etc. If a blockchain has these problems, it can not achieve success in the Internet of Things (IOT) or in the fourth industrial revolution. Any blockchain that can succeed in mass adoption for IOT must be unchanged and decentralized first. Issues such as scalability, speed and costs are also important considerations, but the immutability and decentralization are the prerequisites. If they are not met, no company or organization will consider the use of this blockchain for the Internet of Things (IOT).
Chart for ETC / USD (1W) [19659003] The chart above for ETC / USD shows that Ethereum Classic (ETC) is not just a solid investment from a fundamental point of view, but also from a technical point of view. The price of Ethereum Classic (ETC) has been traded in a diamond formation against USD since 2017. It is now on the verge of a breakout as the RSI has reached the extension of its movement within of a triangle. In technical analysis, when the price of an asset is increasing before entering a diamond pattern, there is a high probability that it will continue to rise after breaking that diamond.
In this case, a rally towards new highs seems reasonable from multiple angles. Ethereum Classic (ETC) is currently the cheapest currency on Coinbase and is expected to increase aggressively as market sentiment reverses. There is an ETC summit in September that has already been sold out. The event is very important as there will be a live demonstration of the Internet of Things (IOT) on the blockchain of Ethereum Classic (ETC). In addition to this, many figures from the popular sector will also speak about Ethereum Classic (ETC). Ethereum Classic (ETC) will become fully IOT compliant by November 30, 2018 based on their official roadmap.
Source link
