1 Level
7 Review
9 Karma
Review on Ethereum Classic by Minh Nguyen Nhat
Ethereum Classic is not a new cryptocurrency, but instead a split from an…
Ethereum Classic is not a new cryptocurrency, but instead a split from an existing cryptocurrency, Ethereum. Both blockchains are identical in every way up until block 1920000 where the hard-fork to refund The DAO token holders was implemented, meaning that all the balances, wallets, and transactions that happened on Ethereum until the hard-fork are still valid on the Ethereum Classic Blockchain. After the hard-fork, the blockchains were split in two and act individually. Ethereum Classic still offers the same features as Ethereum, such as the creation and deployment of smart contract and Decentralized applications, and has all the same specifications, such as average block time, size and reward.
Pros
- Ethereum Classic underwent a hard technical fork to adjust the internal price and ran various op codes on the Ethereum Virtual Machine (EVM) on October 25, 2016, similar to the ETH Hard Drive for a week. before. The goal is to charge a much more reasonable price for external referrals and large calculations to less encourage spammers to perform a monthly distributed denial of service attack on the ETC.
Cons
- Ethereum Classic didn’t have much going for it when it was simply a rebellion against the hard fork of 2016. Now that time has passed, it has begun to carve its own definitive path that stays true to the original decentralised and immutable ethos that Ethereum originally promised. With the addition of its capped supply of 230 million tokens whilst supplying all of the benefits of Ethereum, Ethereum Classic has been nicknamed ‘the Bitcoin of decentralised applications.’ However, it needs a large number of promising applications to adopt its network to gain the traction needed to excel, and if unable to do this, then it may be overshadowed by an increasingly competitive market.
