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Review on Ethereum Classic by Efughi Lucky

Revainrating 4 out of 5

Every cryptocurrency has a lot of scope in future, because the world of…

Every cryptocurrency has a lot of scope in future, because the world of blockchain is at its infancy right now. Where cryptocurrency right now is, the internet was in the 1990s. Hence, you can yourself imagine where it would be in coming future.



Pros
  • Ethereum Classic is an open-source, public, blockchain-based distributed computing platform featuring smart contract (scripting) functionality. It provides a decentralized Turing-complete virtual machine, the Ethereum Virtual Machine (EVM), which can execute scripts using an international network of public nodes. Ethereum Classic also provides a value token called "classic ether", which can be transferred between participants, stored in a cryptocurrency wallet and is used to compensate participant nodes for computations performed. Gas, an internal transaction pricing mechanism, is used to prevent spam on the network and allocate resources proportionally to the incentive offered by the request. It differs from Ethereum in that it did not reverse The DAO hack. According to Ethereum Classic Reddit, ETC has grown substantially from the moment it started. Back in mid-2016, if we see Ethereum Classic Price Chart, it started at somewhere at half a dollar per piece, but now, as of 2018 the current price of ETC stands at 35 to 40 dollars per piece, which is approximately 80 times more than the beginning value! The counterpart Ethereum on the other hand, recently crossed a thousand dollars, but it has greater volatility compared to Ethereum Classic. Ethereum Classic, has stable and uniform growth, and rises carefully against the market odds. s of ETC (Ethereum Classic) are that it stands true to the original nature of the intended blockchain. It retains the core values with which ETH (Ethereum), as a platform and as a cryptocurrency commenced. Some big players like Greyscale Investments LLC, popular crypto-exchange ALFAcashier and many others.
Cons
  • 1. Most major developers are supporters of the new hard forked Ethereum. The community of ETC is quite small, and most people buying it are not real users that use the token to execute programs. 2. Ethereum Classic may not follow the future changes made to Ethereum. 3. It is said that many ETC buyers are Bitcoin supporters that don’t want Ethereum to succeed. however are that it cannot get access to updates happening on the Ethereum blockchain. The reputation of Ethereum Classic in general, is not welcoming or positive. That is because some people think that those who did not support the hard fork and stayed with the original network, are scammers and the attack is considered as an insult to the Ether community.

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