Ethereum Classic Coin (ETC) is a cryptocurrency that launched in 2016 as a hard fork—a permanent split— from Ethereum (ETH). Its main function is as a smart contract network, with the ability to host and support decentralized applications ( DApps ). Its native token is ETC. Ethereum Classic Coin is based on the original Ethereum blockchain that was hacked in 2016, resulting in the theft of 3.6 million ETH. Ethereum Classic Coin chose to maintain the integrity of the original blockchain and its immutability, while Ethereum decided to revert the hack and create a new blockchain.
Coin Introduction and Features
One of the main features of Ethereum Classic Coin is its immutability. Immutability means that the transactions and records on the blockchain cannot be altered or reversed by anyone, even in the case of a hack or a bug. This ensures that the network is secure, transparent and trustless. Ethereum Classic Coin follows the principle of “code is law”, meaning that the smart contracts and DApps on the network are executed exactly as they are written, without any interference or censorship.
Another feature of Ethereum Classic Coin is its decentralization. Decentralization means that the network is run by a large and diverse community of nodes, miners, developers and users, without any central authority or intermediary. This ensures that the network is open, inclusive and democratic. Ethereum Classic Coin has a decentralized project governance system, which allows the network to fund and approve proposals for the development and improvement of the project. The system works by allocating 10% of the block rewards to a treasury fund, which is then distributed to the proposals that receive the most votes from the miners.
A third feature of Ethereum Classic Coin is its compatibility. Compatibility means that the network is interoperable and compatible with other blockchains and platforms, especially Ethereum. This ensures that the network is innovative, adaptable and collaborative. Ethereum Classic Coin uses the same programming language, virtual machine and tools as Ethereum, which makes it easy for developers to create and deploy DApps on both networks. Ethereum Classic Coin also supports various cross-chain and layer-2 solutions, such as sidechains, bridges and rollups, which enable faster and cheaper transactions and scalability.
Investment Analysis and Recommendations
Ethereum Classic Coin is one of the most established and liquid cryptocurrencies in the market, with a market capitalization of over $3 billion and a daily trading volume of over $200 million1. Ethereum Classic Coin is widely accepted and supported by many platforms, merchants and services, such as PayPal, Coinbase, Binance, Travala, BitPay and more23. Ethereum Classic Coin also has one of the most active and vibrant communities in the crypto space, with over 300,000 followers on Twitter, over 70,000 subscribers on Reddit, and over 20,000 members on Telegram.
We recommend Ethereum Classic Coin to investors who are looking for a cryptocurrency that preserves the original Ethereum blockchain and its principles of immutability, decentralization and compatibility. Ethereum Classic Coin has the potential to become a leading smart contract network that can host and support various DApps and use cases, such as finance, gaming, identity, social media and more. Ethereum Classic Coin also has the potential to offer more security and stability to its users, thanks to its proof-of-work consensus mechanism and its resistance to hard forks and changes. Ethereum Classic Coin is not only a cryptocurrency, but also a movement that strives to create a more open and fair digital world for everyone.
Outlook
Ethereum Classic Coin has a positive outlook for both the short-term and the long-term. In the short-term, Ethereum Classic Coin is expected to benefit from the bullish sentiment and momentum in the crypto market, especially as Ethereum reaches new highs and attracts more attention and adoption. Ethereum Classic Coin is often seen as a complementary and alternative asset to Ethereum, as it offers the same functionality and compatibility, but with a different philosophy and vision. Ethereum Classic Coin is also expected to benefit from the upcoming launch of Ethereum Classic Magneto, which will implement several upgrades and improvements to the network, such as gas cost reduction, security enhancement and interoperability support.
In the long-term, Ethereum Classic Coin is expected to continue to grow and innovate, as it follows the feedback and demand of its community and users. Ethereum Classic Coin aims to become a leading smart contract network that can facilitate various DApps and use cases, as well as a digital asset that can store and transfer value across the world. Ethereum Classic Coin also aims to become more immutable and decentralized, as it maintains the original Ethereum blockchain and its principles. Ethereum Classic Coin is not only a cryptocurrency, but also a movement that strives to create a more open and fair digital world for everyone.