When Bitcoin loses value, it is an excellent time for altcoins to improve their BTC ratio. Unluckily, that doesn’t show up to be happening all that much right now, other than where the Ethereum Classic price is worried. Unlike all other currencies, the Ethereum Classic price is still ter the green overheen the past 24 hours.
Cryptocurrency markets are still pretty unstable. While things looked to be te a good place, this past morning has resulted ter a loterijlot of losses again. All major cryptocurrencies are down inbetween three to seven procent. One exception is ETC, spil the Ethereum Classic which price is still up and growing against all odds.
With most of the ETC trading volume originate from OKex, Upbit and Bithumb are also ter the top three. Nowadays a lotsbestemming of people are looking to diversify their Bitcoin holdings. The way things look right now, there is a lotsbestemming more upswing potential for altcoins compared to Bitcoin, even tho’ all markets are intrinsically linked to the world’s leading cryptocurrency very first and foremost.
What is Ethereum Classic (ETC)
Ethereum Classic is the original Ethereum blockchain and permits for the implementation of decentralized applications and brainy contracts. The project wasgoed born out of an unwavering belief te core principles. It symbolizes the importance of a cryptocurrency being fungible and its blockchain immutable.
Ethereum Classic continued the original blockchain and split from Ethereum ter July 2016. It wasgoed predicted that the original chain would simply vanish after the fork, but mining and trading continued. Eventually, Poloniex listed ETC and the price reached one-third of ETH’s.
After bitter attacks ter the various Ethereum subreddits, ETC made a Declaration of Independence telling that they believe te a decentralized, censorship-resistant, permission-less blockchain. They also believe ter the original vision of Ethereum spil a world laptop that cannot be shut down, running irreversible clever contracts.
From their Declaration of Independence’s core principles, wij can read:
“Code is law, there shall be no switches to the Ethereum Classic code that crack the properties of immutability, fungibility, or sanctity of the ledger, transactions or ledger history cannot for any reason be reversed or modified.”
Thesis principles did not align with Ethereum and ETC no longer associates with the Ethereum Foundation.
The Ethereum Classic (ETC) team intentionally holds a low profile. The lack of high profile leader is te line with their core philosophy of ETC being decentralized and free from powerful human influence.
However, the majority of this team has overheen Ten years of practice ter software engineering and understand how to build a system supposed to work for years.
Their main concentrate is on making Ethereum Classic a stable and usable technology. Opposite to stir rapid and pauze things.
ETC vs ETH
ETC diverges greatly from ETH when it comes to mining and coin supply. Ethereum has a built-in difficulty bomb that makes mining with proof of work firmer overheen time. This will eventually force all miners to switch to proof of stake. ETC will pause this difficulty bomb and intends on sticking with proof of work.
Even tho’ Ethereum had a fatter run upwards ter the last years, the fact that people didn’t leave the original shows us its here to stay.
With most cryptocurrency markets ter the crimson once again there is a lotsbestemming of positive momentum ter the ETC market right now. With ETC investors are investing ter a commitment to an immutable blockchain.
Their team hopes, te the long run, there is value te sticking to your principles, and spil wij can see, they have good reasons to believe ter that.
Overall, this coin is already te the top 15, and it looks like it is heading even higher.