What is the difference between ETH and ETC?
One of the main differences between Ethereum and Ethereum Classic is Ethereum’s plan to move from PoW to PoS. However, Ethereum Classic still intends to do traditional mining on its own blockchain.
Similar to ETH, the newly issued ETC has a maximum supply of 210 million. Meanwhile, ETH has no fixed supply.
Initially, the Ethereum blockchain was created as a single chain. But in 2016, the chain was hacked for $60 million. As a result, a hard fork was performed for security, creating two separate versions.
Now we know the difference between ETH and ETC. We can discuss how to use each type.
What is Ethereum Classic (ETC)?
https://ethereumclassic.org/
Ethereum Classic is an open source blockchain. Due to a hack in Ethereum that initially led to the fork. This creates two separate blockchains: Ethereum Classic and New Ethereum.
Now, ETC is the native currency of Ethereum Classic, supporting transactions and smart contracts on the network. In addition to network security, the hard fork also leads to the return of stolen funds to the original owners.
Since the fork, the Ethereum Classic network has been continuously upgraded. The main purpose is to focus on immutability, expressed through the phrase “the code is the law”.
What is Ethereum (ETH)?
https://ethereum.org/en/
According to Ethereum.org, Ethereum provides open access to digital currencies and data-friendly services to everyone. This is the technology behind ETH and its many applications.
Ethereum is used for many things such as digital currency, global payments, and applications. It is also decentralized and open to all with internet access.
Ethereum’s DeFi system operates 24/7, allowing users to send, receive, borrow, and earn interest anywhere, anytime.
Ethereum is not only a digital currency but can also represent anything in the form of an NFT.
You can use Ethereum without giving up personal information, just a wallet. Unlike the current Internet, having to give up control of personal data.
Related: What Is Ethereum (ETH)? An Overview of the ETH Project
Is Ethereum Classic (ETC) following Ethereum (ETH)?
Ethereum Classic (ETC) does not follow the same price trajectory as Ethereum (ETH). Currently, ETC is trading at 20 USD and ETH is trading at 2000 USD. One of the main reasons for the price difference is that ETC has a fixed supply and ETH does not.
Does Ethereum Classic (ETC) have a future?
Here are the sentences rewritten with around 20 words each:
Currently, the main focus of ETC is to support the concept of code as law. Essentially, the code is simple law which means no one has the right to censor the code on the ETC blockchain.
Ethereum Classic still facilitates smart contracts and offers decentralized governance benefits. The contract can be enforced without the involvement of a third party.
Ultimately, Ethereum still dominates Ethereum Classic as the preferred blockchain for buying, selling, and creating NFTs.
That doesn’t mean ETC doesn’t have a future, it just means ETH will likely continue to be the more trusted and popular blockchain.
Conclude
Through the difference between Ethereum and Ethereum Classic above, AZC News hopes readers will grasp the necessary information to make their own investment decisions. Wishing you a successful investment!
