Ethereum Classic (ETC) is a cryptocurrency with smart contracts which respects immutability and neutrality.
Anyone who knows the history of Ethereum Classic should be able to understand what the following means: “Anything you can do I can do better, I can do anything better than…” wait that sounds wrong…I’m already better. No unregulated ICO. No Private/Pre-sale. No free ETC.. I am the very definition of grassroots. I was abandoned. They say I shouldn’t be here.”
The reality is that Ethereum Classic choose to be organically “Ethereum Classic.”
Long Story Short: Ethereum (ETH) has unknown future supply, switching over to PoS. About 70m ETH more than half was pre-allotted to investors and developers. ETH took to TheDAO bailout hardfork. ETH is focused on making layer 1 scale provides room for security and availability tradeoffs. And, all of these for a meager increase in throughput.
Ethereum Class choose to remain organically the same in response to TheDAO bailout hardfork. ETC choose to scale to a greater extent being PoW by making use of Layer 2 solutions like Lightning, State Channels, Optimistic Rollup etc.
ETH and ETC make use of the same EVM, which means any project which is runnable on Ethereum Blockchain is also runnable on Ethereum Classic Blockchain. ETC does not have centralized leadership and it is more decentralized and resilient.
The claim is that ETH can be confiscated, but ETC cannot be confiscated. Those who are not able to follow should understand the story of how ETH and ETC are different and how they separated and how they differ from each other by reading through the long history.
The latest applications on ETC are: CoinRabbit, Classic Rewards, Lazy Lions, Moon Lama, Token Factory, ETCZunks, NFT list, ETC Bit Pixel, HENS, SwapCat, ETC HODL Contract, and The Man Who Sold the World.
Dapps DEX DeFi and NFTs Making Ethereum Classic Resilient.
Also, trending in the Ethereum Classic ecosystem is the Ethash Miners Migrating to ETChash Post ETH Merge.
Community Reaction:
Critics on ETC: ETC is good but is not perfect.
ETH 2.0 Supporters: The ETC network is not secure enough which is fatality for the financial function. You should know this. Just wait for the ETH 2.0.
ETC Supporters: They tried to kill ETC by dumping their coins at the same time, it didn’t work. Then they used the ETH miners to kick the coin when it was down and had record low hash rates, to get a couple 51% attacks, still the coin came back stronger, more secure.
There are a lot of developers working hard to build applications on ETC, which is very interesting and will attract more people to ETC in the future.
Other blockchain Advocates: 1) All possible uses cases are already covered by other blockchains and tokens. 2) It is technically the same Blockchain, that got attacked back in 2016
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