In 2015, Vitalik Butarin founded a great community named Ethereum. A year after it suffered from a hacking attack and lost more than $50m. Despite numerous critics about the possible consequences, the majority of the team developers made a decision to create a hard-fork. That was the beginning of a new period. The newly created blockchain got the name Ethereum and the old platform was called EthereumClassic.
The main differences between
Ethereum is more popular as it covers a bigger group of developers. That’s why we have access to hundreds of decentralized applications of different spheres. Ethereum blockchain has become a hub for a great number of financial platforms especially of the ones that deal with crypto credits. In addition, Ethereum Classic can’t overrun Ethereum by the quantity of everyday deals. Ethereum has much better price rise dynamics. However, there is still place for optimism regarding Ethereum Classic. Recently they have increased the account number. Ethereum Classic mining is far more affordable.
Faces problems
The main problem with Ethereum Classic is that it can’t be compatible with the Ethereum hard fork. All huge Ethereum followers moved to new blockchain. It is impossible for Ethereum Classic to get access to the updates for Ethereum. There also exists such an assumption that Ethereum Classic is a kind of an attack to the Ethereum cryptocurrency itself. Some crypto experts believe that Ethereum Classic is created to speed up the break-down of the system. However, we see that both have been on market for over 5 years and Ethereum takes the second place and Ethereum Classic in not the last in the endless list of cryptocurrencies.
Ethereum has more priorities
Ethereum is supported by crypto whales including Ethereum creators. It has a higher hash rate than Ethereum Classic. It is supported by Enterprise Ethereum Alliance. EEA is a powerful group of more than 200 corporations. It aims at implementing the usage of smart contacts into the Fortune 500 list. Among the participants, there are such giants as Microsoft, JP Morgan, Toyota and others. What’s more, Ethereum has exponential growth. It is a specific way that a quantity may increase over time. It occurs when the instantaneous rate of change of a quantity with respect to time is proportional to the quantity itself.
Grayscale Ethereum Classic Trust
The Grayscale company manages Ethereum Classic assets. It reflects the value of the ETC held by the Trust, its expenses and other liabilities. The shares are the first publicly quoted securities solely invested in and deriving value from the Ethereum Classic price. Among huge supporting teams are ETC Core, ETC Consortium, Ethereum Classic Cooperative. In Ferbuary 2020, Grayscale reported, “There is a growing base of developers, business operators, non-profits, and active community members driving development, education, and adoption of Ethereum Classic.”
Should I support?
Most of newbie crypto investors might get puzzled when it comes to the real decision. The very first hesitations take place at evaluating Bitcoin and Ethereum cons and prons. When half a way is done, and you’ve preferred Ethereum, it won’t be that complicated with Ethereum Classic. Look through the facts, read the history of both and make a right choice. Ethereum Classic has its original chain and continues to develop. However, Ethereum’s future looks far more prospective. This is the Ethereum team that created both and the last one is on the Ethereum’s side.