How Good Is The Current Price Of Ethereum Classic? (ETC Analysis) How to buy ETC?
Investors want to make a profit with their investment in another cryptocurrency, at least in the long term. Here the scene is no different from classic stock trading. For this reason, it is important to familiarize yourself with the price forecast before investing. If you do this for Ethereum Classic, it quickly becomes clear that the forecast is very good. In the perfect case, an increase in the price of up to 1000% can be expected. That would mean a hefty profit for the investor. At the same time, the price for the Ethereum Classic is so good that it is affordable for investors with less money and that the risk is blocked. Everyone starts small and Bitcoin did not immediately reach a value of 8,000. Would you even end up using the finished product yourself? Then that would be a good reason to invest in cryptocurrency. However, this reference or the use of a product is not a must. So even if you may not have any idea about Ethereum Classic and you just like the currency, the data, or the low price, the provider is an opportunity. The decision is yours and it depends on your ideas and expectations on the subject. How Good Is The Current Price Of Ethereum Classic? (ETC Analysis) How to buy ETC?
One advantage of investing in this cryptocurrency is that the price is relatively low. On the one hand, this reduces the risk of losses in an investment, but at the same time offers smaller investors and investors with less capital the chance to invest in the Ethereum Classic.
However, the 10 % who voted against the new blockchain did not want to admit defeat to the majority and decided to keep the old blockchain alive. This is how Ethereum Classic was created, a network that only shared the history of its origins with Ethereum. For Ethereum Classic, however, the issue arose that the majority of the crypto ETH.
The Future Of Ethereum Classic
The creators of Ethereum Classic believe in the typical Ethereum idea and want to introduce significant technologies in the future. They also rule out the possibility of a cyber attack like the one a few years ago repeating itself. In the future, Ethereum Classic should become even more decentralized and it should be impossible to carry out transactions behind closed doors. This is to prevent corruption and inefficiency. At the moment, Ethereum Classic is lacking in outside investors. However, the network already has a considerable capitalization with an upward trend.
Do You Know The Difference Between Ethereum Classic and Ethereum?
The similarity of the names alone is confusing for new traders in the crypto market. The story behind it couldn't be more different. Before you decide to invest in one of the two cryptocurrencies, you need to understand what Ethereum Classic and Ethereum are and how they differ.
But there is more to the comparison of these two cryptocurrencies. It's about the vision behind the currency. Investors and new traders alike need to understand the idea of both currencies before deciding whether Ethereum Classic or Ethereum is the better investment.
However, the majority of the market decided that Ethereum had to be changed in order to avoid attacks in the future and to return the stolen coins to investors. However, the community refused to rely on a solution, which led to a hard fork. The old blockchain, which kept records unchanged, was renamed Ethereum Classic, while the new platform was simply called Ethereum.
The issue caused by the attack on the Ethereum blockchain a few years ago, followed by the first blockchain hard fork, was the trigger for the first ETC vs. ETH. With that story in mind, we'll try to answer most of the questions about the Ethereum vs. Ethereum Classic. For example, the question of whether Ethereum Classic is a good investment.
Ethereum Classic Is An Immutable Blockchain
It not only contains the records of its creation, but also the complete history of the platform. The developers behind the currency are still working ceaselessly to develop Ethereum Classic into an international payment platform. The team behind Ethereum Classic takes a very idealistic approach. They firmly believe that no changes should be made to the blockchain. Finally, it should not be forgotten that blockchain innovation was specifically created to prevent human manipulation.
However, ETC teams are against the comments that led to the Hard Fork and rely on the famous code is law approach. You want to protect the immutability of a network designed to be different from the classic one. The ETC team opposed and sharply criticized the split. ETC idealists say that this precedent leads to future hard forks for whatever reason.
Is Ethereum Classic 2021 a Good Investment?
After all these pros and cons, you naturally ask yourself: Is Ethereum Classic a good investment? One thing is clear: there will always be an ETC vs. ETH side. Cryptocurrency lovers will either endorse one or the other. The subject of Ethereum vs. Ethereum Classic will therefore remain a battle for a while.
The Ethereum Classic decided to follow Bitcoin's scarcity method - a financial method that is based on scarcity. The platform has a hard cap of around 200 million ETC. The block rewards decrease by about 20 % every 5 million blocks. Ethereum continues to mint ETH coins at the same rate but has no cap.
At the same time, the Ethereum platform announced that it would switch from the proof-of-work to a proof-of-steak by the end of 2021. The PoS consensus requires fewer resources to maintain the platform and is also more environmentally friendly. Although mentioned in Ethereum's roadmap, the Ethereum Classic decided to delay the move to PoS. According to current reports, this plan was finally abandoned completely. ETC will continue to operate as a Proof-of-Work platform.
Given the huge differences in how the two currencies plan to evolve, it's obvious that Ethereum Classic doesn't follow Ethereum. Performances like transaction and hash rates show that Ethereum is the more powerful platform of the two. Around 600,000 transactions are carried out daily in the Ethereum, while the daily average for Ethereum Classic is around 40,000. The computing of Ethereum is about 20 times higher than that of the Ethereum Classic. At the same time, more than half of all DApps run on Ethereum, while only a handful are used in the Ethereum Classic.
When comparing Ethereum Classic and Ethereum, the lower price is the main reason to invest in Ethereum Classic. However, there is a lack of a roadmap to drive the growth of this blockchain. This is a clear setback for Ethereum Classic, as it puts the stamp on the blockchain as being a bad investment. The future at Ethereum looks rosier: The plan to introduce PoS will further increase the trend of ETH. At the same time, ETH can scale the number of transactions and reduce fees So it doesn't look really good for Ethereum Classic, one might think. However, the market still holds many surprises in-store and the volatility of cryptocurrencies can lead to sharp price increases. As far as one assumes rising prices, even if these should only rise slightly in the foreseeable future, then it is probably the best time to get in. The cryptocurrencies will certainly not get much cheaper. You have to assess for yourself whether this investment is a good idea for you.
How to buy Ethereum Classic?
Author: Emre Ata Author LinkedIn