The Currency Analytics
By Sydney TheCMO
The infamous DAO Attack
ETC upholds Ethereum’s vision of immutability
Greater opportunity of mining
Talk about the safest cryptocoins today and Ethereum Classic will certainly command one of the leading positions on your roster.
ETC is backed by a decentralized blockchain infrastructure and is used to code and run DApps (Decentralized Apps) as well as perform transactions through smart contracts.
Any discussion on ETC is incomplete without the mention of the DAO (Decentralized Autonomous Organization).
But, unfortunately, soon after the crowdsale, the DAO faced a hack that took out a whopping 3.5 million Ether (~ $50 million) from its funds.
The infamous hack stirred a storm in the crypto scene that led to severe damage of reputation of Ethereum and also loss of market cap.
However, some people in the Ethereum community were strongly against the fork which led to a split.
Even though leading industry figures like Gavin Wood and Vitalik Buterin have taken to the new chain, the one based on the old blockchain shows great promise.
Ethereum was essentially introduced to fight against nasty financial corruption. This is the main reason why the blockchain was designed to be immutable.
What I love about ETC is that since it’s based on the old Ethereum blockchain, it effectively boasts the ideals of immutability and keeps your funds safe.
The ETC network offers standard mining which is based on Ethash algorithm as well as PoW confirmation system. Miners can conduct mining through video cards here.
I am really excited to see that the Ethereum Classic blockchain has recently received the backing of some of the most notable industry figures.
For more information Ethereum Classic visit : https://ethereumclassic.org/