Altcoins News
By James Thorp
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Ethereum Classic (ETC) because people want sovereign, programmable, and sound money. Ethereum, the forked chain, is a tampered history where trusted individuals manually…
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An opinionated reminder about the qualities of "hard money" and how they relate to Ethereum Classic.
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There are many different types of money. Each type has it's own level of usefulness. The usefulness of money can be measured using 7 major traits:
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Fungible: A given unit is interchangeable with any other unit. 1 ETC = 1 ETC. Durable: Cryptocurrency does not degrade over time like physical money.
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Like Bitcoin, Ethereum Classic has a fixed emission schedule. ETC is the only major Smart Contract platform with a known future supply.
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Every Era of 5,000,000 blocks, mining rewards are reduced by 20%. About % of the ETC that will ever exist has already been mined. Over 99% will be mined by around 2065.
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Worth checking in to the: ECIP 1017: Monetary Policy and Final Modification to the Ethereum Classic Emission Schedule.
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Thus, Ethereum classic is the canonical extension to Bitcoin functionality as the EVM initially intended to accomplish. ETC is programmable digital gold."
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In conclusion per the ECIP proposal, it is important to recognize that a monetary policy does not directly create value for the network.
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