1 Level
12 Review
6 Karma
Review on Ethereum Classic by Anika Chowdhury
ETC is a backed by a vibrant and active community committed to the core…
ETC is a backed by a vibrant and active community committed to the core principles and philosophies of cryptocurrencies, including an immutable blockchain. This was a crucial factor in the creation of ETC and also contributes to its ongoing development.
Pros
- When the decentralized autonomous organization (the DAO), a venture capital fund built on the Ethereum platform, was hacked in June 2016, it caused a rift in the Ethereum community. Some wanted to perform a hard fork and roll the blockchain back before the hack occurred; others argued that any outside interference with the blockchain goes against the core philosophy of cryptocurrency.After much debate, the hard fork went ahead and created what we now know as Ethereum (ETH), while the original Ethereum blockchain remained in place and became known as Ethereum Classic (ETC).
Cons
- There are several other crypto projects devoted to dapps and smart contracts, including NEO, Qtum and Lisk. In particular, Ethereum Classic risks being overshadowed by its (currently) much bigger and better-known sibling.
