Ethereum Classic Review (ETC) – The truly unchanging Blockchain



Name Ethereum Classic
Ticker ETC
Total Supply 230,000,000
Category Blockchain Platform
Starting Price $ 0.61 [19659011] Website URL [19659002] https://ethereumclassic.org/

Ethereum Classic firmly believes in a decentralized blockchain, resistant to censorship and without authorization, which can not be closed and has irreversible smart contracts. As a result, in 2016 it separated from Ethereum. The currency has increased by 30% in the last month due to the announcements that Coinbase and Robinhood are adding to their platform.

Article Summary

  • The Battle between Ethereum and Ethereum Classic
  • The Ethereum Classic Development Team
  • Ethereum Partnerships
  • Coinbase and Robinhood Add Ethereum Classic
  • The ETC Coin Price History
  • How Gas Works
  • How to buy Ethereum Classic
  • How to Mine ETC
  • How to store Ethereum Classic
  • Roadmaps and future plans

The battle between Ethereum and Ethereum Classic

Ethereum Classic separates from Ethereum in 2016 for technical and philosophical differences. For Ethereum Classic supporters, Ethereum's fork hard and code change were the result of a hack that should never have happened in the first place. After all, if the blockchain should be immutable, the system should be resistant to these types of attacks. For Ethereum supporters, the transaction was valid and executed. Ethereum Classic refers to the etereum violation of fungibility and immutability, the two main advocates that value peer-to-peer money and intelligent contract-based systems in its Declaration of Independence.
The central belief of Ethereum Classic is decentralized, resistant to censorship, blockchain without authorization.

Here is a more detailed version of what caused the split between the two: It all started with the DAO. The DAO was an Ethereum project that should have functioned as a decentralized venture capital fund with the objective of financing DADP future projects in the ecosystem. The DAO managed to raise $ 150 million in ether before the hack. A voting system was held to decide how to disperse the funds, using voting tokens. In 2016, the DAO was hacked and over $ 50 million of its funds were transferred.

Although the action taken to withdraw funds was valid for the Ethereum community, most of the Ethereum community decided to change the Ethereum code to return money to investors and away from the attacker.

A small but noisy minority of participants did not agree with the decision, continuing to use the old version of the blockchain. This group was firmly convinced that the blockchain was 100% resistant to censorship and could not be altered.

In short, otherwise, Ethereum Classic is an alternative version of the blockchain in which DAO attack funds have never been returned to the owners of the aether. Ethereum is a blockchain that has returned these funds to its users.

Ethereum Classic Development Team

Unlike Ethereum, which has a very large development team, Ethereum Classic has a group smaller that is currently growing.

The Ethereum Classic development team, ETCDEV, works full-time on Ethereum Classic projects. These projects include:

  • Classic Geth a major customer for the ETC blockchain, which has contributed with its original designs such as the Emerald platform. Geth has been maintained by the DAO fork, focusing on modularization, performance and making it more suitable for a corporate environment. Up to 50% of the current code has been replaced, rewritten or removed.
  • The Smeraldo platform also helps others to develop the Ethchaum Classic blockchain. It is a software development kit (SDK) for creating desktop, mobile, web and shell-scripting applications running on the Ethereum ETC blockchain.
  • SputnikVM is a new generation Ethereum virtual machine (EVM). It has an integrable EVM compatible with other Ethereum blockchains and IoTs. [1965906] Sidechains are also implemented as a native part of the ETC infrastructure with protocols to add scalability to bring ETCs to IoT. [19659039] The Ethereum Classic team includes its founder and CTO, Igor Artamonov, who has been a professional software developer since 2001 and has written code since 1995. He has a profound knowledge of data processing for the cloud, Ethereum and the blockchain. Igor is responsible for the development of the technological strategy, products and development objectives. The team also includes numerous Go and Javascript developers.

    Ethereum Classic Partnerships

    Ethereum Classic announced a partnership with Zeniex an exchange of cryptocurrency established by a group of South Korea's financial and security experts and of China. The goal of the partnership is to develop the Ethereum Classic community in Asia.

    After the announcement in July of the Ethereum Classic Cooperative to use its $ 700k surplus to focus on the awareness and awareness of Ethereum Classic in the next 6 months, Ethereum Classic intends to develop further partnerships once Ethereum Classic is compatible with the Ethereum blockchain. As more projects move to Ethereum Classic, it should lead to more DApps to be thrown on it, increasing its value as a platform.

    Coinbase and Robinhood Add Ethereum Classic

    Robinhood, a US-based financial services company with an appraisal of $ 1.3 billion in 2017, recently announced that users can now use Ethereum Classic on the his cryptocurrency app. Users can now invest in Dogecoin, Bitcoin Cash, Litecoin, Bitcoin, Ethereum and Ethereum Classic using the app

    Almost coincident with the announcement of Robinhood, Coinbase, an exchange of digital currency, also announced the addition of ETC to its listing. Coinbase recently announced the final ETC listing test in preparation of the cryptocurrency support offering through its many services.

    ETC Coin Price History

    Ethereum Classic initially traded for $ 0.61 in July 2016. In January 2018, it rose to $ 45.51. The price of Ethereum increased by 30% in the last month, mainly due to the June announcement on the listing of Ethereum Classic to the Coinbase platform and the announcement that users can now invest in Ethereum Classic on Robinhood Crypto. [19659027] Update: Coinbase began accepting Ethereum Classic deposits on its cryptocurrency exchange and increased the purchase limit to $ 25,000.

    How Gas Works

    Because Ethereum and Ethereum Classic share the same basic blockchain and ecosystem, they are both powered by GAS. GAS is the sender of the Ethereum remuneration fee for each transaction carried out on an Ethereum blockchain. It is purchased per ether by the miners who execute the code. Its purpose is to prevent spam on the network and allocate resources proportionally to requests.

    The price of the GAS is decided by miners and is obtained by adding ether to your account.

    How to buy ETC

    The ETC's main stock exchange is on Binance, which currently has the largest volume of currency at over $ 87 million. ETC can be traded on Binance for USDT, ETH and BTC.

    ETC is also available on the following stock exchanges:

    As ETC mines

    Ethereum Classic is a tiny coin. You can extract it from a number of mining pools. First, however, you need a GPU, 4 + GB of RAM and Ethereum Classic account and a GPI miner with at least 4 GB of memory.

    Nanopool is a pool where you can start.

    How to store ETC [19659026] Ethereum Classic can be stored in any portfolio that supports ERC-20 tokens such as Coinomi, MetaMask and MyEtherWallet.

    You can also store ETCs on the Emerald Wallet or the Ether Classic Portfolio, both available for download on the Ethereum Classic Website.

    For maximum security, however, it is necessary to store Ethereum Classic on hardware portfolios such as Ledger Nano S.

    Roadmaps and future plans

    Ethereum Classic has a detailed development roadmap published on its website. In the short term, it includes objectives such as ensuring scalability through sidechains, the development of IoT and the machine-to-machine protocol and assisting 3 developers rd -party in creating apps on Ethereum Classic. In the long run, the currency aims to provide more security and encryption, interoperability with other blockchains and a decentralized web.

    The development roadmap does not include specific dates, but a specific list of development goals. In 2018, these goals include the completion of Emerald Wallet for Mobile, the release of Sidechains and the optimization of Sputnik. In 2019, Ethereum Classic wants to focus on improving scalability, sharing and improving cryptography on EVM for zero-knowledge testing.

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