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Review on Ethereum Classic by NHAN LE PHUOC
Ethereum Classic announced a partnership with Zeniex, a cryptocurrency…
Ethereum Classic announced a partnership with Zeniex, a cryptocurrency exchange established by a group of financial and security experts from South Korea and China. The goal of the partnership is to develop the Ethereum Classic community in Asia. Ethereum Classic has a detailed development roadmap published on their website. In the short-term, it includes goals such as ensuring scalability through sidechains, developing IoT and machine-to-machine protocol, and assisting 3rd-party developers in building apps on top of Ethereum Classic. In the long-term, the coin aims to provide better security and encryption, interoperability with other blockchains, and a decentralized web.
Pros
- Ethereum Classic believes strongly in a decentralized, censorship-resistant, permissionless blockchain which cannot be shut down and has irreversible smart contracts. As a result, it parted ways with Ethereum back in 2016. The coin has risen in value by 30% in the last month due to announcements that both Coinbase and Robinhood are adding it to their platform.
Cons
- Ethereum Classic split from Ethereum back in 2016 over both technical and philosophical differences. To Ethereum Classic proponents, the Ethereum hard fork and changing of its code was a result of a hack that should never have happened in the first place. After all, if the blockchain is supposed to be immutable, the system should be resilient to these types of attacks. For Ethereum proponents, the transaction was valid and executed. Ethereum Classic refers to Ethereum’s violation of fungibility and immutability, the two core proponents that bring peer-to-peer cash and smart contract-based systems value in its Declaration of Independence. Ethereum Classic’s core belief is a decentralized, censorship-resistant, permissionless blockchain.
