Review on Ethereum Classic by Furkan Öztoprak
Ethereum Classic Overview
Guys, today I'm going to tell you about Ethereum Classic. It is a public and decentralized blockchain. It is in the sub-coin group produced as an alternative to Bitcoin.
At that time, a fork occurs, and then in 2016, a smart contract system is developed by creating a fund called DAO under the leadership of the Ethereum Foundation. This system meant that the two parties could not perform their buying and selling transactions unless they took action simultaneously. This feature helped increase the value of Ethereum as it is not available in every cryptocurrency. However, in 2016, a claim was made that there was a security vulnerability in this system, after which the money of some users was moved. That is, the claims proved true and a loss of approximately $ 50 million was incurred.
After these events, a vote was held to realize the fork. Most of the community objected, arguing that bifurcation is a situation that does not fit the chain of immutability. As a result of this dispute, coins, like the Ethereum management group, split into two: Ethereum (ETH) and Ethereum Classic (ETC).
As a result, ETC has a satisfactory value, although not as much as ETH. It is currently listed on stock exchanges. It can be traded and traded. It is on many well-known exchanges, mainly Binance. It is not investment advice. When investing in cryptocurrencies, consider the risk of losing.
Pros
- It is a popular crypto currency.
- Binance etc. is listed on robust stock exchanges.
- It does not violate the rule of immutability in blockchain.
Cons
- There may be a problem accessing new updates in Ethereum.
