Why Is Ethereum Classic
What is Ethereum Classic?
Ethereum Classic is a decentralized platform that runs smart contracts: applications that run exactly as programmed without any possibility of fraud or third party interference.
Ethereum Classic is a continuation of the original Ethereum blockchain – the classic version preserving untampered history; free from external interference and subjective tampering of transactions.
Why is Ethereum Classic?
The Ethereum Classic platform was created in response to the DAO hack which saw $50 million worth of Ether taken from the DAO, a venture capital fund built on the Ethereum platform.
The DAO was hacked because a vulnerability in the code was exploited which allowed the attacker to withdraw funds from the DAO.
Ethereum’s developers decided to execute a hard fork in order to refund the stolen funds, but a group of Ethereum users decided to continue using the original Ethereum blockchain, hence the creation of Ethereum Classic.
What are the benefits of Ethereum Classic?
The main benefits of Ethereum Classic are that it is a decentralized platform that runs smart contracts, and that it is free from external interference and subjective tampering of transactions.
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Does ethereum Classic have a future?
Since Ethereum Classic was born out of a hard fork of the Ethereum blockchain, there is always the question of whether it has a future.
There are a few things to consider when answering this question. First, Ethereum Classic is essentially the original Ethereum blockchain, prior to the hard fork that created Ethereum and Ethereum Classic. This means that it has the same features and functionality as Ethereum, but also comes with the history of the Ethereum blockchain up to the point of the fork.
Second, Ethereum Classic has a much smaller community and user base than Ethereum. This can make it more difficult to develop and implement new features, and also makes it more susceptible to attack.
Finally, Ethereum Classic has been shown to be more resilient to attack than Ethereum. This is due to the fact that Ethereum Classic is based on the original Ethereum blockchain, which has been around for longer and has been more tested.
So, does Ethereum Classic have a future? It certainly has potential, but it remains to be seen if it can overcome the challenges it faces and become a viable alternative to Ethereum.
Is ethereum Classic better than ethereum?
When Ethereum (ETH) hard forked to create Ethereum Classic (ETC) there was much debate over which was the better option. Both have their pros and cons, but ultimately one may be better than the other for different reasons.
The biggest difference between Ethereum and Ethereum Classic is that Ethereum Classic is more decentralized. Because Ethereum is owned by the Ethereum Foundation, it is more susceptible to attacks. Ethereum Classic is not owned by anyone, so it is less likely to be attacked.
Another difference is that Ethereum is more scalable. Ethereum can process around 15 transactions per second, while Ethereum Classic can only process around 3 transactions per second. This is because Ethereum has a bigger network of nodes.
However, Ethereum is more vulnerable to attacks. In June of 2016, $50 million worth of Ether was stolen from The DAO, which was a smart contract on the Ethereum network. Because Ethereum Classic is based on the original Ethereum blockchain, it is less likely to be attacked.
So, which is the better option? It really depends on your needs. If you want a more decentralized option, Ethereum Classic is the better choice. If you need a more scalable option, Ethereum is the better choice.
Is ethereum Classic a good investment?
In recent months, there has been a great deal of debate over the merits of Ethereum Classic as an investment. Some people believe that it is a good investment, while others are not so sure. Here, we will take a look at the pros and cons of Ethereum Classic as an investment to help you decide for yourself.
One of the main benefits of Ethereum Classic is that it is a decentralized platform. This means that there is no single point of failure, and the network is not controlled by any one person or organization. This makes it a very secure investment.
Another benefit of Ethereum Classic is that it is based on the blockchain. The blockchain is a distributed ledger that is secure and transparent, and it is this technology that makes Ethereum Classic such a good investment.
However, there are also some drawbacks to Ethereum Classic. For example, it is not as well-known as some of the other cryptocurrencies, and it has a smaller market cap. This means that it may be more difficult to sell your investment if you need to.
Overall, Ethereum Classic is a good investment for those who are looking for a secure and decentralized platform. However, it is important to do your own research before making any decisions.
Why is ethereum classic so cheap?
When Ethereum (ETH) forked into Ethereum Classic (ETC) on July 20, 2016, many people expected ETC to die off. It had less hashing power, no corporate partnerships, and no real use case.
However, ETC has managed to persist and even thrive, with a market cap of over $1.5 billion as of August 2018. So why is ETC so cheap compared to ETH?
There are a few reasons. First, Ethereum has a much larger user base and more active developers. Second, Ethereum has more corporate partnerships and is being used in more real-world applications.
Third, Ethereum is backed by large companies like IBM and Microsoft, while Ethereum Classic is backed by a smaller, more grassroots community. This means that Ethereum has more potential for growth and is more likely to be adopted by large corporations.
Fourth, Ethereum has a more stable network, while Ethereum Classic has had more network issues. This means that Ethereum is more likely to be used in commercial applications.
Overall, Ethereum is a more stable and reliable platform, and this is why it is more expensive than Ethereum Classic. However, Ethereum Classic has the potential to grow into a major player in the cryptocurrency market, and it is definitely worth keeping an eye on.
Can Ethereum Classic reach $10000?
Since its inception in July of 2016, Ethereum Classic has been one of the most successful cryptocurrencies in the market. In this article, we ask the question, can Ethereum Classic reach $10000?
Ethereum Classic is a decentralized platform that runs smart contracts: applications that run exactly as programmed without any possibility of fraud or third party interference. Ethereum Classic is a continuation of the original Ethereum blockchain – the classic version preserving untampered history; free from external interference and subjective tampering of transactions.
Ethereum Classic has some key advantages over other cryptocurrencies. For example, Ethereum Classic is deflationary, meaning that the total supply of coins decreases over time. This is in contrast to Bitcoin, which has a fixed supply of 21 million coins. Ethereum Classic also has a very low transaction fee, making it a cheaper option for payments than Bitcoin.
Another key advantage of Ethereum Classic is that it is ASIC-resistant. This means that it can be mined using regular computers, rather than specialized hardware like ASICs. This makes Ethereum Classic more democratic, as it is not controlled by a small number of miners.
So, can Ethereum Classic reach $10000?
There is no doubt that Ethereum Classic has a lot of potential. It has a number of advantages over other cryptocurrencies, and it is ASIC-resistant, meaning that it can be mined using regular computers. However, it is still early days for Ethereum Classic, and it is difficult to say whether it will reach $10000. That said, there is no doubt that Ethereum Classic is a very promising cryptocurrency, and it is definitely worth keeping an eye on.
Is Ethereum Classic abandoned?
Ethereum Classic (ETC) is one of the most popular altcoins on the market. It is a fork of Ethereum (ETH) that was created in July 2016. In January 2019, Ethereum Classic was the 18th largest cryptocurrency with a market capitalization of $1.5 billion.
However, there have been rumors that Ethereum Classic is being abandoned. In this article, we will take a closer look at these rumors and determine whether or not Ethereum Classic is being abandoned.
What is Ethereum Classic?
Ethereum Classic is a fork of Ethereum that was created in July 2016. It is a decentralized platform that allows for the creation of smart contracts and decentralized applications. Ethereum Classic is similar to Ethereum, but it has a different governance model and a different monetary policy.
Ethereum Classic is one of the most popular altcoins on the market. It is a fork of Ethereum that was created in July 2016. In January 2019, Ethereum Classic was the 18th largest cryptocurrency with a market capitalization of $1.5 billion.
Why is Ethereum Classic being abandoned?
There are several rumors circulating that Ethereum Classic is being abandoned. The most common rumor is that Ethereum Classic is being abandoned because it is not as popular as Ethereum.
However, there is no evidence to support this claim. Ethereum Classic has a very active community and there is no indication that the developers are planning to abandon the project.
What is the future of Ethereum Classic?
There is no evidence to suggest that Ethereum Classic is being abandoned. The developers are very active and the community is very active. The future of Ethereum Classic looks bright.
Should I invest in eth or ETC?
There are a few things to consider when making this decision.
First, Ethereum Classic (ETC) is based on the original Ethereum blockchain, while Ethereum (ETH) is a hard fork of ETC. This means that ETH is a newer, more updated version of ETC.
Second, ETH has a larger community and more developers working on it than ETC.
Third, ETH is more widely accepted as payment than ETC.
Fourth, ETH has a higher value and is more valuable than ETC.
Ultimately, whether or not to invest in ETH or ETC depends on your own personal preference and investment goals.
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