Ethereum Classic (ETC) – Is the name confusing? – Crypto Recorder


Yesterday, someone sent a tweet saying that Ethereum Classic (ETC) should rebrand not to be confused with Ethereum. To this Charles Hoskinson replied that,

"Ethereum is free to change names at any time."

But does the name really matter? Is it a source of confusion? Well, it may have caused confusion in the early days, but at this point, there is really no confusion between ETC and ETH. Even a simple search on google for Ethereum Classic (ETC) vs Ethereum (ETH) brings out tons of content, explaining the differences between the two. As such, even for a new-crypto, there's no way anyone can confuse them. With all the information available online today and for free, you should intentionally be ignorant, not to mention the difference between the two.

Furthermore, by observing the details of each of them, it becomes even clearer that Ethereum (ETH) and Ethereum Classic (ETC) have very different fundamental foundations and philosophies. Ethereum Classic has retained its main strength as an immutable blockchain. Unlike Ethereum, Ethereum Classic (ETC) maintains the code as a rule of law, which means that transactions can not be canceled. This is a fundamental difference between the two chains that make it easy to distinguish them, even if they share a name.

The two are also very different in the sense that Ethereum is trying to move to the Proof-of-Stake mines, while Ethereum Classic (ETC) intends to keep the mining activity work-proof. While the POS is more energy efficient, POW is still the safest mining algorithm on the market, and also in a better position to maintain decentralization in the long haul. This is a fundamental difference between the two chains that will separate them completely going in the long run.

However, if there are people who still can not distinguish the two parts of Ethereum, the best way to deal with them is not to think of a name change, but to market ETCs more aggressively and make it more visible on the market, and it seems to be going well on this front. For example, the quotation on Coinbase has given a greater presence on the market. Coinbase is one of the largest cryptographic exchanges on the market and its listing of Ethereum Classic (ETC) has given it a high position on the market. There are many people who did not know about ETC and its strengths that came to know during the Coinbase advertising campaign.

These high-profile lists and other ETC projects will lead to increased awareness of ETCs. Other strategies include community-led projects, and ETC seems to do well on this front as well. Lately, ETC has participated in numerous community meetings. The community has recently organized a series of community meetings all over the world. These meetings play a huge part in creating basic ETC support. Turning to the growth that the ETC community has had in the recent past, it is clear that the community is getting bigger. As it grows larger, any kind of confusion between the two will disappear.

Moreover, even if it is the name as a branding tool, Ethereum Classic (ETC) is the original Ethereum. As such, they are those who came after they could change their names. Charles is right, if Ethereum wants to change his name, he can go ahead and do it. Although at present, the two blockchains coexist together quite well. The Dapps market is still in its infancy and will be large enough to accommodate both and many others.

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