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Why Ethereum Classic

What Is Ethereum Classic? Ethereum Vs Ethereum Classic

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 >>

What To Expect When Ethereum Classic Defuses Its 'difficulty Bomb'

What To Expect When Ethereum Classic Defuses Its 'difficulty Bomb'

What to Expect When Ethereum Classic Defuses Its 'Difficulty Bomb' May 28, 2018 at 06:30 UTC|UpdatedMay 29, 2018 at 19:52 UTC Ethereum classic (ETC) is set to fork in the coming days as part of a bid to diffuse a so-called 'bomb' in its code. Set for block 5,900,000, the change, in which all users of the original ethereum blockchain will need to update their software, is meant to disable afeature that is designed to increase the difficulty of mining the protocol's rewards ahead of a shift to a new consensus algorithm. Such changes, originally envisioned as part of the roadmap now continued by the ethereum blockchain , would render ETC mining unprofitableifallowed to persist. Advocates in the ethereum community argue that proof-of-stake systems are more energy efficient than their proof-of-work counterparts. However, Anthony Lusardi, developer and director of ETC Cooperative,a community development and marketing body for the protocol, argues this is yet another point on which the ethereum and ethereum classic communities disagree. As such, he sought to frame the impending removal of the code as another way the ethereum classic project is attempting to differentiate since the 2017 split. "Proof-of-work seems to be the most decentralized approach currently to achieving consensus from what the majority of the community feels," Lusardi said in an interview. "There's a lot of new algorithms being proposed like proof-of-stake, delegated proof-of-stake and byzantine fault tolerance, and within our community we're not convinced that these newer versions of consensus are any more decentralized and we're somewhat afraid that they may be more centralized than say proof-of-work." Ethereum classic's decision to uphold its proof-of-work system was not made in haste. In fact, discussi Continue reading >>

Here Is Why Ethereum Classic (etc) Could Reach $500 By Dec 2018

Here Is Why Ethereum Classic (etc) Could Reach $500 By Dec 2018

Here Is Why Ethereum Classic (ETC) Could Reach $500 By Dec 2018 Ethereum Classic (ETC) is known for a lot of things. It is known as the original Ethereum blockchain. It is known as the smaller, less popular version of Ethereum (ETH) and it is known as a forgotten coin which I admit is extremely boring to trade. However, if history is any indication, we have seen Ethereum Classic (ETC) to achieve the most gains in a narrow window of just a few weeks. This trading behavior of Ethereum Classic (ETC) coupled with the ease of storing and transferring it to and from wallet to exchange has convinced many cryptocurrency investors to hold Ethereum Classic (ETC) long term. Ethereum Classic (ETC) ranks #1 in terms of algo score according to Coincheckup.com with a score of 4.68/5. The second in line is Monero (XMR) with a score of 4.53/5 whereas Bitcoin (BTC) has a score of 4.39/5 and Ethereum (ETH) has a score of 4.29/5. This is a measure of how solid Ethereum Classics tech is compared to other cryptocurrency projects. It should be no surprise to see why Barry Silbert of Grayscale has a portfolio of $65 Million allocated to Ethereum Classic compared to $26.9 Million for Ethereum (ETH). Ethereum Classic (ETC) is also supported by Charles Hoskinson, CEO of IOHK. In addition to that, ETC Dev works on the project as one of the most competent developers in the blockchain industry. This is why Ethereum Classic (ETC), despite its meager resources, ranked #4 in terms of work done on its blockchain last year. Ethereum Classic (ETC) believes in immutability and a truly decentralized blockchain. This is why a lot of investors hold Ethereum Classic (ETC) out of principle. Recently, Ethereum Classic (ETC) came up with its own wallet, the Emerald Wallet. While Ethereum Classic (ETC) may rank a Continue reading >>

Ethereum Classic - Wikipedia

Ethereum Classic - Wikipedia

Ethereum Classic is an open-source , public, blockchain -based distributed computing platform featuring smart contract (scripting) functionality. [1] [2] 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. [3] [4] [5] [6] 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 [7] ) 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 >>

Ethereum Classic Price Analysis: Etc/usd Consolidating Above $17

Ethereum Classic Price Analysis: Etc/usd Consolidating Above $17

Ethereum Classic Price Analysis: ETC/USD Consolidating Above $17 Ethereum Classic Price Analysis: ETC/USD Consolidating Above $17 Ethereum classic price is holding a major support area near $16.80 against the US dollar. There is a short-term ascending channel forming with support at $17.50 on the hourly chart of the ETC/USD pair (Data feed via Kraken). The pair may climb higher in the near term as long as it stays above the $17.50 support area. Ethereum classic price remains supported on dips against the US Dollar and Bitcoin. ETC/USD is likely to continue higher if the $17.50 and $17.00 support levels are intact. After a substantial decline, ETC price found buyers above the $16.50 level against the US dollar. The ETC/USD pair recently traded as low as $16.79 before it started an upside move. Buyers pushed the price above the $17.00 resistance level. Moreover, there was a break above the 23.6% Fib retracement level of the last drop from the $19.87 high to $16.79 low. However, the upside move was capped by the $18.35 level and the 100 hourly simple moving average. There is also a short-term ascending channel forming with support at $17.50 on the hourly chart of the ETC/USD pair. The ascending channel pattern seems to be a replica of a previous pattern, which paved way for losses below $17.00. The current pattern may produce more gains if the price remains above $17.00. Buyers need to push the price above $18.35 and the 50% Fib retracement level of the last drop from the $19.87 high to $16.79 low. The chart suggests that the price may slowly move higher towards $19.00. Once there is a proper close above the 100 hourly SMA, the price may accelerate gains towards the last swing high of $19.87. Above this, the next major hurdle for buyers is near $20.00. Hourly MACD The MAC Continue reading >>

What Is Ethereum Classic

What Is Ethereum Classic

This guide was created with the purpose of answering any question user may have regarding Ethereum Classic (ETC) . In order to understand why and how ETC has come into existence, it's important to understand the events that lead to its creation: The DAO hack and the hard-fork. If you haven't followed these events, click here to read a brief summary. Ethereum Classic is not a new cryptocurrency, but instead a split from an existing cryptocurrency, Ethereum. Both blockchains are identical in every way up until block 1920000 where the hard-fork to refund The DAO token holders was implemented, meaning that all the balances, wallets, and transactions that happened on Ethereum until the hard-fork are still valid on the Ethereum Classic Blockchain. After the hard-fork, the blockchains were split in two and act individually. Ethereum Classic still offers the same features as Ethereum, such as the creation and deployment of smart contract and Decentralized applications, and has all the same specifications, such as average block time, size and reward. Part 2- Why was Ethereum Classic created The Hard-fork has been a controversial subject, that has split literally split the Ethereum community in two. Both sides have made some valid points regarding their position on the hard-fork debate. Users that did not support the hard fork point out that Code is law - the original statement of The DAO terms and conditions should stand under any circumstances Things that happen on the blockchain are immutable and they should never changeregardlessof whatthe outcome is There is aslipperyslope and once you modify / censor for onecourse/reason there is not a lot to keep you from doing it for other contracts The decision to return the money is short sighted and you might reduce the value of ETH d Continue reading >>

Is Ethereum Classic (etc) Dead? Or Now Is The Time To Buy?

Is Ethereum Classic (etc) Dead? Or Now Is The Time To Buy?

Is Ethereum Classic (ETC) Dead? Or now is The Time to Buy? Ethereum Classic (ETC) is definitely one of the coins in the market being watched closely by a good number of investors. This cryptocurrency follows the original chain of the Ethereum blockchain but has had a not so great run on the market compared to the other split of the chain, Ethereum (ETH). There are two ways of looking at ETCs situation: a potential highly valuable asset or one to be approached cautiously. In other words, does the coin have what is required to make it in a crowded field of cryptocurrencies? Is it time to sell or is it time to buy some more? Over the last few months, a majority of the Ethereum Classic community seem to have been wondering if the coin would ever wake up and take its rightful position via a great price rally. For most investors, what matters most to them, in a crypto market that is still highly speculative, is that the project is seen to be progressing or to have that underlying potential to do so. Any other outcome, especially where prices stagnate for so long, invites questions whether the coin could be among the almost 90% that are predicted to eventually die off. Apart from the fact that the crypto has not reached the highs of ETH over time means that it will always be overshadowed. While the wing that supported the DAO initiative has gone on to hit highs of over $1700, ETCs best run took it to about $50 during the last crypto boom. While that alone cant relegate the platform to the doldrums, an emergence of stiffer competition should also be a factor. Next-gen platforms like EOS and Zilliqa among many offer similar or even better blockchain solutions. It means that if the ETCDEV and ETC cooperative doesnt elevate the platform, the signature smart contracts and dApps pl Continue reading >>

Why Ethereum Classic Matters In 2018

Why Ethereum Classic Matters In 2018

Despite its low price, Ethereum Classic remains an important digital asset with a strong community. Ethereum Classic remains underpriced compared to the leading ETH asset, which has flown above $1,000. But ETC may still matter in 2018, both as a platform and a source of mining revenues. Right now, ETC does not look too good: its price has not recovered against Bitcoin, despite the nominal gains in dollar value. But there may be hidden upward potential in this coin, and perspectives for long-term growth. The fate of ETC in 2018 is contained in the recently released roadmap, featuring updates and the philosophy for the coin. The ETC project counts the building of a larger team as one of the milestones achieved in 2017: "The main accomplishment was that the team was established, that was a very challenging task, with very limited funding, under constant pressure from all sides and toxic environment, but by end of the year we grew up to 8 full time members in the ETCDEV team. The team got established development processes, working full time on core ETC projects, and will continue to grow." The ETC project has diffused the "difficulty time bomb" that it inherited from the Ethereum codebase. The blockchain, which contains the unaltered history of losses from the DAO hack, is taking on a different path, with an alternative policy of new coin creation. Ethereum Classic (@eth_classic) January 9, 2018 For 2018, the Ethereum Classic project has the main objective of scaling through side chains. Even at the moment, ETC is not as loaded by transactions as the Ethereum network. However, building a scaling solution in advance may be a benefit to the project. The other major area of development is an attempt to connect Ethereum Classic to the Internet of Things. The capability of work Continue reading >>

Coinbase Unexpectedly Announces Ethereum Classic Support, Volume Surges

Coinbase Unexpectedly Announces Ethereum Classic Support, Volume Surges

As part of this process, customers can expect to see public-facing APIs and other signs that the asset (ETC) is being added. The blog also added that the official launch date of full support for this altcoin will be announced through the proper social media channels in the upcoming months, specifically saying: When we reach the final testing phase of the technical integration, which we expect to occur over the next few months, we will publicly announce a launch date for trading via our blog and Twitter. Full support will entail the addition of ETC to CoinbasePro (GDAX) and Coinbases more traditional exchange service. As well, Coinbase also has plans to add Ethereum Classic into the other services it provides. One of these services being its custody service, which was announced in November last year. As well, ETC will be added to the Coinbase Index Fund , which is comprised of all of the assets listed on Coinbase services. The index fund was launched earlier this year with retail and institutional investors in mind. Currently, the minimum investment into the index fund is $250,000 for any U.S. accredited investors. The release of this fund allowed for traditional investors to gain access to some of the top cryptocurrencies in an easy to access manner. However, Coinbase also noted that it will be releasing the Ethereum Classic obtained from Ethereum holders during the 2016 ETH/ETC hardfork. This announcement has many users relieved, as certain users will finally be able to reunite with their lost Ethereum Classic. If you take a few minutes to scour the respective cryptocurrency subreddits, it becomes apparent that there are many stories of Ethereum users not being able to access the vast amount of ETC they should have had. On the release of this announcement, volume surg Continue reading >>

Ethereum Classic - A Smarter Blockchain That Takes Digital Assets Further

Ethereum Classic - A Smarter Blockchain That Takes Digital Assets Further

Whether youre looking for wallets, exchanges or even just general information, we have you covered. Check out our resources page to be directed to the right place youre searching for. ETC has some of the largest network activity of any blockchain, consistently higher than Bitcoin Cash, and neck-and-neck with Litecoin. We have multiple developer teams, all of whom are committed to the long term ETC vision. We are in the top-10 in programmer activity (measured by code commits). We have numerous sources of funding, and we continue to grow, day-by-day, commit-by-commit, line-by-line of code to create a bullet-proof network that anyone can use. Technology:We are the longest running smart contract blockchain in existence. Blockchains store value. You want your blockchain to last. Community: We have a strong and principled community. Many of our members have stuck around since the beginning. We look beyond the hype and keep to the principles that keep blockchains functioning. Immutability: We take a conservative approach to changes here, and this conservatism avoids splits and protects your money; much like Bitcoin. ETC allows highly efficient value transfers (more so than Bitcoin and its variants), has a focus on IoT applications, and runs a mathematically verified Ethereum Virtual Machine, or EVM. What this means is that ETC is great at what it sets out to do: be a highly efficient means of exchange that connects the worlds devices. Our developer teams are working on the technology and partnerships that will allow for seamless use of the ETC network everywhere blockchain is needed. Many blockchain communities have centralized leadership, meaning a few people at the top make the decisions for everyone else. ETCs community is purposely structured to avoid this. Responsibility Continue reading >>

Ethereum Classic (@eth_classic) | Twitter

Ethereum Classic (@eth_classic) | Twitter

This timeline is where youll spend most of your time, getting instant updates about what matters to you. Hover over the profile pic and click the Following button to unfollow any account. When you see a Tweet you love, tap the heart it lets the person who wrote it know you shared the love. The fastest way to share someone elses Tweet with your followers is with a Retweet. Tap the icon to send it instantly. Add your thoughts about any Tweet with a Reply. Find a topic youre passionate about, and jump right in. Get instant insight into what people are talking about now. Follow more accounts to get instant updates about topics you care about. See the latest conversations about any topic instantly. Continue reading >>

Ethereum Classic 51% Attack Would Cost Just $55 Mln, Result In $1 Bln Profit: Research

Ethereum Classic 51% Attack Would Cost Just $55 Mln, Result In $1 Bln Profit: Research

Ethereum Classic 51% Attack Would Cost Just $55 Mln, Result in $1 Bln Profit: Research Launching a 51% attack on Ethereum Classic would be both cost-effective and profitable, new research has claimed. A Brazilian researcher has calculated that it could take just $55 mln to hack a major cryptocurrency network for $1bln profit in new findings, TNW reports Friday, May 22. Husam Abboud of FECAP University in So Paulo used the example of Ethereum Classic (ETC) to demonstrate the hackability of cryptocurrency networks using Proof-of-Work (PoW) algorithms. We can safely estimate The Cost of a 51% attack on Ethereum Classic today to be between 55 to 85 million [USD] (averaged $70 million), Abboud reported. The findings seemingly contradict previously-held assumptions that conducting network attacks - successful 51% attacks to control hashpower - is too expensive and would result in making the attacked currency worthless. Well if you have all that hashing power youre better off mining coins than attacking the network! Abboud summarizes the argument as believing. Now, however, the situation is different, with barriers to entry in terms of equipment cost removed and shorting making it possible to achieve considerable profits, he adds. The methods employ a cost calculation model for 51% attacks known as Rindex v2.0, which removes aspects such as purchasing new equipment in favor of leasing hashpower from other PoW coins, such as Bitcoin (BTC) and Ethereum (ETH). The intention of this article is to raise the awareness of this attack vector so that we can take appropriate measures to increase our networks robustness before it gets exploited, Abboud writes, providing various solutions to avert the problems including upgrading to Proof-of-Stake (PoS) . Continue reading >>

Coinbase Will Add Ethereum Classic To Its Exchange In The Coming Months

Coinbase Will Add Ethereum Classic To Its Exchange In The Coming Months

Coinbase may be one of the most-lauded crypto exchanges, but it supports just four coins right now which is far fewer than most others. Thats about to change a little after it announced plans to add Ethereum Classic (ETC), an alternate version of Ethereum, to its service in the coming months. Ethereum Classic was created in June 2016 following a major hack on The DAO , a fundraising vehicle for the project. In short: the Ethereum Foundation created a new version of Ethereum known today as Ethereum that rescued the lost funds, while those who opposed continued on with the original chain which was known as Ethereum Classic. Ethereum is the second-highest valued token after only Bitcoin while ETC is number 19, according to Coinmarketcap . The value of ETC jumped is up nearly 20 percent over the past 24 hours after spiking following Coinbases announcement . A date for the introduction of ETC will be communicated via Coinbase blog and Twitter account in due course, according to the company. Coinbase is announcing its intention to list Ethereum Classic ahead of time so that it can test integrationsas part of its new policy on adding new tokens, but that move is also in response to concerns that around inside trading when the exchange added Bitcoin Cash last December. Coinbase went so far as to investigate the incident which saw service outages and wild price fluctuations for Bitcoin Cash right after its addition to the exchange. Indeed, the price hit a high of$8,500 on Coinbase and its GDAX service for professional investors,which was almost three times higher than the $3,500 price on all other exchanges. That led to speculation that Coinbase staff and insiders could have profited by buying BCH on other exchanges in the knowledge that it was about to be added to Coinbase, th Continue reading >>

Ethereum Classic Vs Ethereum: A Step-by-step Guide | Finder.com

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 Classic (etc) Has Gone Up While Making Improvements

Ethereum Classic (etc) Has Gone Up While Making Improvements

Ethereum Classic (ETC) Has Gone Up While Making Improvements Home All Posts ...Ethereum Classic (ETC) Has Gone Up While... May 8, 2018 By Maja Rogic 1583Views 0Comments Ethereum, ranked as the 17th-best currency in the global coin ranking list, divided the Ethereum community once it was forked out of Ethereums first major system update. For quite some time after the initial fork, Ethereum Classic was doing more than well with also having been ranked as one of the top 20 coins, however, it soon started to drop against the dollar, while collecting only 1.3% of gains in the last two months. Now, we can see ETC clearly progressing in the last 30 days, even though it had adopted the latest trend of trading in the red, as the majority of coins is dropping in the last 3 days. Lets see how well Ethereum Classic did, as well as find out more about the latest updates made by ETC dev team. Although ETC has risen not more than 1.3% in the last two months, which is considered to be a pretty weak set of gains in the period of 60 days, we can now see Ethereum Classic under the more positive light. Apparently, Ethereum Classic has had a major rebound as it was trading up during the most of April, which was pretty easy on the majority of currencies. April came as a perfect time for bouncing off, as February and March went pretty tough on the crypto market, dictating frequent drops and setting up the trend of trading in the red. That is how ETC has made an amazing improvement when it comes to its market value, during the course of 30 days. During April, ETC has made it with acquiring 71% of gains in the course of 4 weeks, which helped Ethereum Classic adopt a pretty smooth rebound rate. During the course of the last two weeks, ETC has gone up against the dollar for 13% up while it gaine Continue reading >>

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