Ethereum's Two Ethereums Explained - Coindesk
What started as an attempt to rescue investor funds in a high-profile project has resulted in a schism that has effectively split the community on the second-largest public blockchain. The split is not only psychological. Thanks to the design of public blockchain systems, it is also technical, with competing visions manifesting in two very real blockchains, or versions of the projects transaction history. As of this weekend, there are now two groups working on two competing versions of a project called ethereum , a blockchain-based platform designed to enable decentralized application development. If bitcoin envisioned how a distributed group of users could create and manage a currency, ethereum sought to allow a distributed group of users to create and manage a decentralized, uncensorable app store. (You can learn more in our latest CoinDesk Research report). However, there are now two slightly different versions of this platform available to users ethereum, the 'official' version of the blockchain maintained by its original developers, and ethereum classic, an 'alternative' blockchain maintained by a wholly new team . Both offer the same technology platforms, and according to developers, they're in agreement on a formal roadmap for steps forward. But, the small differences have created two markets, both with a combined value of roughly $1.2bn . Long the most notable ethereum project, The DAO, short for distributed autonomous organization, raised $150m in ether the cryptocurrency of the ethereum network earlier this year during a public crowdsale. Held online, anyone who had ether could participate. The idea was simple, in theory. Investors would send money to The DAO and receive voting tokens, and then those who invested (and voted) would decide democratically how Th Continue reading >>
Eth Classic Price Tech Analysis Etc/usd Bearish Towards $10
ETH Classic Price Tech Analysis ETC/USD Bearish Towards $10 Ethereum classic price was crushed recently as it moved below the $15.00 support against the US dollar. There is a key bearish trend line forming with current resistance at $16.50 on the hourly chart of the ETC/USD pair (Data feed via Kraken). The pair may continue to decline and ETC could even test the $11.00 and $10.00 levels. Ethereum classic price is under heavy selling pressure against the US Dollar and Bitcoin. ETC/USD is likely to extend the current decline towards the $10.00 level in the near term. There was a monstrous decline in ETC price from well above $20.00 against the US dollar. The price followed other major cryptocurrencies such as Ethereum , Ripple and Bitcoin cash to move down by more than 60%. There was a nasty downside move and the price traded below the $18.00 and $15.00 support levels. A low was formed recently at $13.89 and the price is currently attempting a minor upside correction. An initial resistance on the upside is near the 23.6% Fib retracement level of the last decline from the $24.30 high to $13.89 low. Moreover, there is a key bearish trend line forming with current resistance at $16.50 on the hourly chart of the ETC/USD pair. The trend line resistance is important and it could prevent gains above $17.00. Above $17.00, the price may test the 50% Fib retracement level of the last decline from the $24.30 high to $13.89 low. The most crucial barrier for a major recovery in ETC is around the $19.00 and $20.00 levels. On the downside, a break below the $13.50 level could push the price towards the $11.00 and $10.00 support levels. Hourly MACD The MACD for ETC/USD is placed heavily in the bullish zone. Hourly RSI The RSI for ETC/USD is currently showing signs of an extreme oversold Continue reading >>
What Is Ethereum Classic? Ethereum Vs Ethereum Classic
What is Ethereum Classic? Ethereum vs Ethereum Classic Angel Investors, Startups & Blockchain developers... If you have been involved with cryptocurrency , then there is no way that you dont have an opinion on this. The battle between Ethereum and Ethereum Classic is both an ethical and ideological one. Before we start explaining the basic difference between the two and drawing our own conclusions, it is important for us to know a little bit of history. A lot of things needed to happen for us to arrive in this conjecture. So, lets dial back the clocks and check out some of the most critical points in not just Ethereum history, but cryptocurrency in general. The entire ecosystem of Ethereum works on the basis of smart contracts. For the uninitiated, smart contracts are basically how things get done in the Ethereum eco-system. To put it in layman terms, smart contracts are automated contracts that enforce and facilitate the terms of the contract itself. The DAO aka the Decentralized Autonomous Organization was a complex smart contract which was going to revolutionize Ethereum forever. It was basically going to be a decentralized venture capital fund which was going to fund all future DAPPS made in the eco-system. The way it worked was pretty straightforward. If you wanted to have any say in the direction DAPPS that would get funded, then you would have to buy DAO Tokens for a certain amount of Ether. The DAO tokens were indicators that you are now officially part of the DAO system. So, how were DAPPS going to get approved and built? Well, firstly they need to get whitelisted by the curators, who have basically known figureheads in the Ethereum world. After getting their stamp of approval, they will get voted on by the DAO token holders. If the proposal gets a 20% approva Continue reading >>
Ethereum Classic Price Inches Closer To $30 Once Again
As we have seen over the past few weeks, it is evident the cryptocurrency markets are still pretty volatile. While things looked to be in a good place last night, this morning has resulted in a lot of losses again. All major cryptocurrencies are down between three to seven percent. One exception is ETC, as the Ethereum Classic price is still up by 12.5% compared to 24 hours ago. With most cryptocurrency markets in the red once again, it is always interesting to see who can buck this trend successfully. When Bitcoin loses value, it is an excellent time for altcoins to improve their BTC ratio. Unfortunately, that doesnt appear to be happening all that much right now, other than where the Ethereum Classic price is concerned. Unlike all other currencies, the Ethereum Classic price is still in the green over the past 24 hours. More specifically, the Ethereum Classic price has increased by 12.58% in the past 24 hours. Given Bitcoins current 3.4% loss in the same period, this gain is pretty interesting to keep an eye on. After all, it further confirms ETC is making up lost ground in the BTC ratio department as well. Otherwise, the Ethereum Classic price would have significantly declined USD value as well, just like any other cryptocurrency on the market right now. To put this into perspective, the Ethereum Classic price went up by 15.58% in USD value, pushing the price to $29.63. At the same time, the ETC/BTC ratio rose by 17.72% in favor of the alternative cryptocurrency as well. With such solid gains in both departments, things are looking pretty solid for Ethereum Classic right now. Even so, there is a very real chance the negative momentum will eventually drag ETC with it, although it remains to be seen how things evolve in this regard. With $712m in 24-hour trading volum Continue reading >>
Ethereum Classic Community
Vitalik Buterin and The Ethereum Foundation create the first blockchain-based turing-complete smart contract platform Slock.it construct TheDAO Ethereum Contract; a security audit is completed by Dejavu TheDAO smart contract is deployed; members of the public send it value in return for DAO tokens Slock.it announce a $1.5 Million USD proposal, paid in Ether by the crowdfund, 'to guarantee the integrity of The DAO' On the last day of the crowdsale, DAO curator Vlad Zamfir calls for a moratorium on TheDAO, citing many game-theoretical security issues The crowdsale completes to become the world's largest and raising an incredible $150 Million USD Peter Vessenes publicly discloses the existence of a critical security vulnerability overlooked in many Solidiy contracts Stephan Tual publicly claims that TheDAO funds are safe despite the newly-discovered critical security flaw Ether is slowly and silently drained from TheDAO as the re-entry bug is applied The price of Ether is slashed in half as Griff Green announces that TheDAO has been hacked TheDAO's splitting mechanism gives around a month for a solution to be found that recovers the funds; Foundation and community developers race to implement a soft fork A group of 'white-hat' hackers secure 70% of TheDAO funds but protocol-level action is required to save the remaining 30% split by the hacker The Ethereum Foundation releases a 'Soft Fork' client to censor transactions coming from the hacker; mining pools vote to enable it by lowering gas limit Critical Denial of Service flaws are found in the Soft Fork implementation, miners quickly decide not to use it Many days of intense arguing goes on in the Ethereum community about the pros and cons of implementing a Hard Fork The only remaining option is a controversial Hard Fork. Continue reading >>
Ethereum Classic Vs Ethereum: Whats The Difference?
A first look at any crypto market spreadsheet will show two different types of Ethereum, one being Ethereum (ETH) and the other being Ethereum Classic (ETC). The two cryptocurrencies not only share the same name, but also share an interesting story that is one of the most pivotal events in all cryptocurrency history. The battle between Ethereum and Ethereum Classic is one of ethics and ideologies. Before there were the two different Ethereums we see now, there was only one Ethereum. Since then, $50 million was stolen by an unknown hacker or hackers, and this resulted in two distinct camps of people in the cryptocurrency world being formed. Heres how Ethereum as we now know it came to be, and how it compares to Ethereum Classic. In broad strokes, both Ethereum and Ethereum Classic are platforms on which various applications can be built. A smart contract is a contractual state that is stored in the blockchain, and it executes when certain conditions are met. They are controlled and enforced by the blockchain, which serves as an objective and unbiased third party to the transaction. These smart contracts essentially run the entire ecosystem of Ethereum. Since these contracts are automated and enforced, transactions and applications that run on the Ethereum platform have become very appealing to all sorts of different applications. These applications, referred to as DAPPs (decentralized apps) have a wide variety of functionalities and purposes, all using the Ethereum platform to function. To get an idea for the myriad of different DAPPs out there, take a look at the State of the Dapps . The most pivotal moment in the Ethereum vs. Ethereum Classic split has to do with an organization known as the Decentralized Autonomous Organization, or the DAO. The DAO was essentially a Continue reading >>
Eth Vs. Etc - What Matters Is The Future.
The surprise that Ethereum Classic (ETC) was born as part of the Ethereum Hard Fork (ETH) is somewhat digested. However why the price of ETC continues to rise is difficult to comprehend (at the time of writing the price of ETC is USD 2.70). ETC should theoretically behave like the dead skin dropped by a snake which does not require it anymore. Yes, in the past, there was a purpose to that skin, but like the growing snake requires a fresh and bigger skin in the future, the Ethereum ecosystem does as well. ETC should remain as the past protocol, impaired by the DAO debacle. It is incapable of evolving, as chocked by the immutability and non-forking promise of its promotors. Like dead skin, it should be abandoned with good reason. Vitalik Buterin confirmed via Twitter that he will work 100% on ETH and still won't support ETC , even if the price of ETC overtakes the price of ETH. Based on his statement on the Ethereum.org Blog , the Ethereum Foundation will focus its resources on the development of ETH as well. Subsequently, Vitalik received the backing of the who is who of the Ethereum Community. Just follow the replies of the Twitter links above or google "I am working 100% on ETH" and complete your search by adding the name of your favourite Ethereum celebrity to confirm. About every single project that matters in Ethereum's ecosystem seems to support and and will run on ETH. ETC will be left out. See this Reddit post for a listing ETH supporting projects. Of course, projects and the respective ETH Dapps might be copied to ETC. However, lag and friction are presets of such undertaking. As a result, ETC will always remain as the second best option vs. ETH. And worse, for the future Dapps to run on ETC, ETC will have to implement the same updates like ETH, in order to ena Continue reading >>
Ethereum Classic Price - Mobile Friendly Price Of Ether Classic
Millions of Dollars Frozen in Ethereum Exploit Hundreds of millions have been frozen across dozens of multi-signature Ethereum wallets. What does this mean for the price of Ether and will we see yet another hard fork? In 30 days time it is likely that there will be 4 high profile versions of Bitcoin in existence - Bitcoin Cash, Bitcoin Gold, Bitcoin 2X and Bitcoin Core. 2X and Core specifically, are so contentious that [...] To help users of this website stay up to date with the latest price movements, we've launched email-based price alerts. Set your cryptocurrency pair (i.e. ETH/USD), exchange and [...] I've been long avoiding this article, waiting until the inevitable ICO shitstorm began to show its first signs of pouring. But when Paris Hilton tweeted [...] Ethereum Classic and August 1st Bitcoin Cash Cryptocurrencies are open source and anyone with an internet connection is capable of creating a fork. Many forks of Ethereum exist today, however only one has any market value (Ethereum  Continue reading >>
Ethereum Classic (etc) At $75 By Q1, As New Excitement Coming Next Month
Ethereum Classic (ETC) At $75 By Q1, As New Excitement Coming Next Month For crypto enthusiasts who have stayed a while in the crypto space, the conflict between Ethereum and its native cryptocurrency Ethereum Classic (ETC) is by no means a new phenomenon. Although the two coins are practically related, they share a couple of differences that make each of them unique. From the DAO attack that led to the hard fork that saw the advent of Ethereum (also known as the new Ethereum) those who refused to move to the new platform might have been frowned upon but not anymore as experts predict a spike in ECLs price. For the uninitiated, Ethereum Classic is actually the original Ethereum Blockchain. Although it was abandoned by a majority of the Ethereum community after the DAO attack of 2016, it still retains the original immutable Blockchain code of Ethereum. Basically, at the time of the introduction of Ethereum, the crypto space was all about enabling financial freedom and eliminating corruption. As a result, the Blockchain was made immutable in an effort to protect it against human whims. But events after the DAO attack that saw about 50 million worth of Ethereums DAO tokens get stolen put a rift in the community with some supporting a hard fork to solve the vulnerabilities in the Blockchain while others resolving to stick with the original Blockchain. The DAO tokens have since been recovered, however, the rift between the two communities has grown wider over the years. Ethereum classic (ETC) is touted as the decentralized immutable and unstoppable alternative to Ethereum. Simply put, it is a continuation of the original Ethereum Blockchain that preserves the unhampered principles of Ethereum which are run on programmed smart contracts with zero downtime fraud, third party Continue reading >>
The Difference Between Ethereum Classic (etc) And Ethereum (eth)
The difference between Ethereum Classic (ETC) and Ethereum (ETH) Torsten Hartmann January 12, 2018 680 no comments In the recent time there have been so many new investors into the cryptocurrency world. It shows that the fear of missing out is on. But any beginner, after entering the digital currency market, will ask a question: What is the difference between Ethereum Classic and Ethereum?. Besides the name, two cryptocurrencies share a very interesting story that is of utmost importance in the history of digital currencies. The battle between Ethereum and Ethereum Classic is both an ethical and ideological one. There used to be only Ethereum and since then $50 million was stolen by an unknown hacker or group of hackers which resulted in two different groups of people being formed in the world of cryptocurrencies. We will show you the history of Ethereum and how it came to be as we know it today and how it differentiates from Ethereum Classic. Ethereum is an open-source, public, blockchain-based distributed computing platform featuring smart contract (scripting) functionality. Ethereum blockchain was first launched in 2015, after a prodigious team consolidated around Ethereum creator Vitalik Buterin. Ethereum was developed as decentralized computer network where software developers could program any platform or DAPP (decentralized app). The entire ecosystem of Ethereum works on the basis of smart contracts. The smart contract represents an automated contract that is stored in the blockchain and it executes when given criteria are met. Smart contracts are enforced and controlled by the blockchain that has a role of unbiased and objective third party to the transaction. Due to the fact that smart contracts are automated and enforced, transactions and applications that ar Continue reading >>
Ethereum Classic - Wikipedia
Ethereum Classic is an open-source , public, blockchain -based distributed computing platform featuring smart contract (scripting) functionality.   It provides a decentralized Turing-complete virtual machine , the Ethereum Virtual Machine (EVM), which can execute scripts using an international network of public nodes. Ethereum Classic also provides a value token called "classic ether", which can be transferred between participants, stored in a cryptocurrency wallet and is used to compensate participant nodes for computations performed. The classic ether token is traded on cryptocurrency exchanges under the ticker symbol ETC. Gas, an internal transaction pricing mechanism, is used to prevent spam on the network and allocate resources proportionally to the incentive offered by the request.     The Ethereum platform has been forked into two versions: "Ethereum Classic" (ETC) and "Ethereum" (ETH). Prior to the fork, the token had been called Ethereum. After the fork, the new tokens kept the name Ethereum (ETH), and the old tokens were renamed Ethereum Classic" (ETC). Ethereum Classic appeared as a result of disagreement with the Ethereum Foundation regarding The DAO Hard Fork. It united members of the Ethereum community who rejected the hard fork on philosophical grounds. Users that owned ETH before the DAO hard fork (block 1920000  ) owns an equal amount of ETC after the fork. Ethereum Classic passed a technical hard fork to adjust the internal prices for various opcodes of the Ethereum Virtual Machine (EVM) on October 25, 2016, similar to the hard fork committed by Ethereum a week previously. The purpose of the hard fork was a more rational distribution of payments for resource-intensive calculations, which led to the elimination of the favorable con Continue reading >>
What's The Difference Between Ethereum And Ethereum Classic?
What's the Difference Between Ethereum and Ethereum Classic? A divorce that shook the Crypto world By Aziz, Founder of Master the Crypto No responses Home Ethereum Whats the Difference Between Ethereum and Ethereum Classic? This article explores the difference between Ethereum and Ethereum Classic (ETH vs ETC); why do they seem similar and what are its implications? Read on to find out more. Whats the Difference Between Ethereum and Ethereum Classic?Powered by Master The Crypto Ethereum is a platform that facilitates the creation of decentralized applications, utilizing the power of smart contracts; pre-programmed codes that are self-executing and doesnt require any 3rd parties to operate. Anyone can build applications on the Ethereum blockchain, which is a public, open-source ledger. The closest analogy is that Ethereum represents an app store in your smartphone. It allows any developers to create smartphone apps that users can publicly download. (See more: Crypto ICO vs. Stock IPO: Whats the Difference? ) Ethereum started out as a single Blockchain (think of it as a single Lego tower thats stacking up continuously). There are various applications that can be built on top of Ethereum, and one such application was a decentralised corporation called the DAO (Decentralised Autonomous Organization). The DAO operated like a hedge fund, essentially collecting funds to invest in the development of other applications. Unfortunately, the DAO got hacked, and a tune of over 50 million dollars was stolen. (See also: Guide on Identifying Scam Coins ) At this point, the core developers had 2 options: Allow the continuation of the chain, since the nature of Blockchain is that it is immutable, and cannot be altered Reverse the tran Continue reading >>
Ethereum Classic Vs Ethereum: A Step-by-step Guide | Finder.com
Born out of a hack and a philosophical disagreement in the Ethereum community, Ethereum Classic has become one of the top cryptocurrencies on the market. Starting life as Ethereum, Ethereum Classic (and its value token, ETC) is the result of a long debate over how cryptocurrencies should handle disagreements within the community and data hacks. That does not mean its in any way a lesser entity than Ethereum. On the contrary, the community behind Ethereum Classic aims to make Ethereum Classic the best cryptocurrency on the market. Ethereum Classic is an open-source, peer-to-peer, computing platform based on blockchain technology and the original Ethereum code. Just like Ethereum, it provides a value token, or altcoin, called classic ether which is used to pay users for products and services, and as a transaction fee when using decentralized apps and smart contracts. The story behind The DAO attack and subsequent hard fork decentralized autonomous organizationbuilt on the Ethereum platform. It was meant to allow users to invest in the development of decentralized apps to run on the Ethereum blockchain. By May 2016, The DAO had accumulated over $150 million, and was ready to begin its operations. Then a paper was released detailing a security flaw in the DAO architecture. Developers of The DAO ignored the concerns raised and moved forward with their operations. In June 2016, The DAO was hacked using the same security flaws outlined in the paper and approximately $50 million were stolen. This hack and the debate that followed it caused a schism in the Ethereum community. On one hand, Ethereum developers could revert the hack back, returning all Ether coins to their respective owners. On the other hand, the very core philosophy of cryptocurrency is that the transactions can Continue reading >>
Ethereum Vs Ethereum Classic: Everything You Need To Know
Ethereum vs Ethereum Classic: Everything You Need To Know By: Sudhir Khatwani In: Ethereum Last Updated: Do you know what the most dynamic space in todays day and age is? Take a wild guess.Yeah, you are right thecrypto space.A huge round of applause for all those who guessed it right. Some of you, especially those reading my write-up for the first time, may think I am crazy. Trust me, crypto is crazier. Here, a one-week long absence can be considered as a one-month absence. A one-month absence can be considered an absence of a wholeyear! To understand what a longer absence can mean, check this tweet: 4 years? that's like an ice age in crypto CrypticalMass (@CrypticalMass) October 20, 2017 A very warm welcome to all visiting for the first time. For those visiting after a break, you have a lot to catch up. Catch up because in tons of upgrades, forks and controversies have taken place in the cryptoland in the past couple of years which can be overwhelming and throw people off balance, especially if you stumble upon inaccurate misinformation on the web. One such event occurred in May 2016 when Ethereum (aka ETH) forked into Ethereum classic (aka ETC). Ever since, many newbies have been carried away by FUD and inaccurate information in the cryptoland around these two projects. Hence, with an aim of spreading awareness, we decided to shed some light on these two projects to help all CoinSutra readers understand it correctly and take a wise decision. To understand the difference between Ethereum and Ethereum Classic, we need to understand a series of events: Ethereum is the brainchild of Vitalik Buterin , a Russian programmer. Vitalik, founder of Bitcoin Magazine,was an earlyadopter of the Bitcoin/blockchain technology. He created Ethereum in late-2013 to do things Bitcoin co Continue reading >>
Ethereum Vs Ethereum Classic: Which Do I Choose?
Ethereum vs Ethereum Classic: Which Do I Choose? October 20, 20171:09 pmPublished by Daniel Keen Hey there Wirex community! Im Daniel, a new member of the Wirex team, and my first order of research was to look into these two cryptocurrencies and see what I could learn. Ethereum is a well-known currency in the crypto-sphere. Second only to Bitcoin in Market cap. Because of this, Ethereum is often looked to as the heir to the cryptocurrency throne. It has some awesome features, including smart contracts and fast block completion times. But there is also a lesser-known sibling of Ethereum: Ethereum Classic. In fact, long ago (well, long ago for the cryptocurrency market), these two coins were one and the same. But which one is best? Which one should you buy? Well for you to make your decision, you must first know a little bit of Ethereum history The DAO (distributed anonymous organisation) was a capital venture fund of sorts. It allowed anyone with ether (The currency used in the Ethereum network) to buy DAO tokens. With these, you could vote on what the DAO would spend the funds on. If you wanted out of the DAO, you could leave. your tokens would be converted back into ether and put into another smart contract. But there was a loophole that hackers found and exploited. Long story short , It resulted in $50 million of ether stolen from the fund. The community was in a frenzy and split down the middle on what to do. Due to the terms of the smart contract, there was a period of 28 days where no funds could be extracted by the hacker. A vote was then held by the DAO over what to do. The vote caused a divide within the community. Some wanted to reverse the hack, which would bring the ether back to the DAO and away from the hacker. But to a vocal minority, this was sacrilege. Continue reading >>