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Review on Ethereum Classic by TUAN NGUYEN VAN
ETC has been the talk of the town as of lately, mostly due to its impending…
ETC has been the talk of the town as of lately, mostly due to its impending Coinbase listing. Crypto community has just recently found out about this new development and as a result, every time Coinbase announces a maintenance event, buy orders start piling on for the coin. Thanks to these news ETC outperformed the entire market and weathered the crashing of Bitcoin/alt markets relatively okay.
Pros
- Coinbase’s support for Ethereum Classic has been in the works for a while now, originally announcing that the firm’s engineering team had begun testing implementation in early-June. Although many Ethereum Classic proponents were over the moon about this proactive step, the San Fransisco-based firm went quiet on ETC’s listing for weeks.
Cons
- The Ethereum Classic project is operating on the original Ethereum blockchain and it came into existence after the DAO hack. We remember how Ethereum community split into two opposing fractions: one wanted to perform a hard fork and reverse the effects of the hack while the other wanted to continue on with the hack staying a part of the blockchain. The majority of the community, backed by Ethereum’s creator Vitalik Buterin, decided that the stolen amount is too big and may lead to the death of Ethereum, so a hard fork was performed and the stolen Ethers were refunded back to their original owners. ETC team and a smaller part of the community (blockchain purists and maximalists) decided that “code is law” and decided to keep the original blockchain operational under the name Ethereum Classic.
