Experts note the permanently growing popularity of cryptocurrencies worldwide. They explain this trend through an unstable geopolitical situation in the world. So, fiat money is exposed to high inflation risks because of this. On the other hand, crypto excels in insensitivity to external factors. Therefore, people are increasingly selecting cryptocurrencies to store their funds.
Specialists claim Ethereum Classic (or ETC) one of the most popular cryptos. It is the younger brother of Ether. Blockchain lovers may find the actual Ethereum Classic rate on numerous reputable crypto platforms (e.g., they may use the link https://cryptotracker.com/price/ethereum-classic). Ethereum developers created ETC. That’s why it has some features common to Ether. But let’s look at the differences between these two cryptocurrencies.
How Did ETC Appear?
Ethereum, as a comprehensive blockchain ecosystem, was launched in 2013. The platform offered its own cryptocurrency called Ether. Due to numerous helpful options available, the Ethereum blockchain network gained loads of customers in quite a short time. Respectively, Ether also got a large number of holders. But the situation abruptly changed in 2016 when hackers withdrew about $50 mln from the Ethereum fund accounts.
As a result, the Ether rate has dropped significantly. So, many ETH holders demanded that the founders of the crypto project solve the problem. To correct the situation, the Ethereum creators compensated for the financial damage and decided to change the blockchain’s current structure. However, the latter decision seemed unacceptable to some ETH holders. So, the developers decided to make another cryptocurrency based on the initial blockchain. They called this crypto Ethereum Classic.
Key ETC Peculiarities
Crypto lovers may get Ethereum Classic without investing. They can just mine it. ETC mining doesn’t require much electricity compared with other popular cryptocurrencies. It only needs a powerful PC. Ethereum Classic may be mined using ordinary video cards.
Main ETC Parameters
Presently, Ethereum Classic is among the 25 most popular cryptocurrencies worldwide. Its general capitalization is about $3.2 bln. The other ETC features are:
- daily turnover – nearly $171.5 mln;
- max one coin price (May 2021) – about $136;
- circulating supply – 137.4 mln coins;
- total amount (currently) – 210.7 million tokens.
In addition, it’s worth noting that ETC capitalization constantly rises. Thus, Ethereum Classic is an excellent option to invest in.
Primary ETC Advantages
This crypto stands out for complete decentralization. Moreover, Ethereum Classic provides its holders with almost free and fully transparent payments. The other benefits are:
- utterly impossibility of forgery;
- strong protection of transactions;
- stability in the market.
Moreover, experts note positive liquidity indicators of ETC. Nay, holders may store Ethereum Classic coins in online, cold, hardware, as well as mobile wallets.
How Is ETC Different From ETH?
Initially, it should be noticed that the total supply of Ethereum Classic is limited, while Ether has no restrictions. Nay, experts note the next distinctions:
- ETH suits long-term investments. However, ETC is better for diversifying a crypto portfolio.
- Ether has a higher hash rate than Ethereum Classic.
- ETC doesn’t allow any changes in its blockchain. And ETH is positive about shifts if most of the team agrees.
Furthermore, a significant difference is each cryptocurrency’s rate. The minimum Ether value was nearly $730 and reached a maximum of about $4,640 in 2021. On the other hand, Ethereum Classic met 2021 at about $5 and hit its peak of nearly $136 per coin.
What Is the ETC Future?
There’s one point that causes concern among many blockchain lovers. This is because intruders hacked into the system in 2016, and numerous coins were lost. However, most ETC holders argue that such fears are in vain, as tens of thousands of miners continue to gain this cryptocurrency and trade it. Furthermore, the crypto itself successfully operates on popular exchanges.
So, due to the huge interest of regular investors, as well as the attraction of new ones, the ETC system will develop and maintain liquidity. To monitor news about Ethereum Classic, investors may visit, for example, CryptoTracker.com.