Review on Ethereum Classic by Othere Obtentus
Fungibility and Immutability
Ethereum Classic is a fork of Ethereum but has its own grounds to stand out in. Ethereum Classic was fairly similar to Ethereum and its wide exchanges integration contributed for a widescale adoption of its network and its native ETC token.
Ethereum Classic is a decentralized digital currency platform and one of the oldest to run smart contracts. It is forked from the Ethereum network after a hack that saw millions stolen in a matter of minutes. Ethereum Classic is mostly well known for its smart contract platform that ensures a decentralized governance systen and eliminates censorship, monitoring and interferance.
Ethereum Classic claimed to address two violated aspects of many cryptocurrencies i.e. Fungibility and immutability. Fungibility means that one unit of the currency will always be equal to another unit of the currency and immutability means that a blockchain is unchanging and inviolable.
Although Ethereum Classic is overlooked by many, it has one of the most consistant and largest blockchain activity on par with Litecoin and is backed up by a committed and educated team.
Pros
- Runs on the mathematically verified Ethereum Virtual Machine
- Immutability
- Large and active community
- Committed team of developers
- Smart contract platform
- Strong alliances and integrations
Cons
- Has a poor history with hacks
- Weak reputation in market
- Too similar to Ethereum
New products
Comments (1)
August 28, 2020
Hello. There is a sort of good points on this review. Good job.
I think we all have experience with any of the products coming from Ethereum. In the case of this blockchain, I can say it is directly connected to the main chain, and although it has a low volume, it has been still affected by the overall volatility in the market.
About its reputation, well, that's something that can change and get better with time. It all depends on the representation users give to it. They should consider more options, instead of just comparing it to Ethereum.
