Ethereum vs Ethereum Classic
Ethereum Classic vs Ethereum Nobody has ever accused the cryptocurrency market of being simple. Besides mountains of highly technical information obfuscating the finer details of all sorts of online currencies and the fact that buying coins is often a chore that requires a high-level computer security for larger purposes, the market doesn’t really go out of its way to hold investors’ hands.
Another great example: Both Ethereum and Ethereum Classic are two separate cryptocurrencies available to be bought and sold. You’ve probably heard of ETH, but things like Ethereum Classic mining, where to buy Ethereum Classic, and the Ethereum Classic price are not as commonly disseminated and talked about. So in this piece, we’ll tackle the ETC vs ETH dichotomy and what these two different versions of the cryptocurrency really represent. And of course, we’ll touch on ETC price predictions.
There’s a lot of technical lingo and geek-talk that I’ll spare you, but the long and short of it is that a major hack took place, abusing the Decentralized Autonomous Organization—a venture capital fund of sorts that operated within Ethereum and allowed investors to choose which decentralized apps would or wouldn’t be allowed to run within the system.
Ethereum Classic Price
With the primer done away with now, let’s take a look at the details of Ethereum Classic.
First of all, the Ethereum Classic price has experienced its own sort of meteoric rise comparable to the ETH gains that have taken place over the past year or so.
While ETH skyrocketed from around $10.00 a coin to over $400.00 a unit at its peak (before falling back to the current level of $230.00), the Ethereum Classic price shot up from below a dollar to its current price of $16.37 in a few short months. Which is good news for Ethereum classic price predictions.
Ethereum Classic vs Ethereum
Naturally, this type of massive gain has drawn the attention of investors, much in the same way that Ethereum has become something of a darling in the cryptocurrency market.
For instance, a big update is coming to ETH that could dramatically change the landscape of the cryptocurrency market. Ethereum is looking to change the way mining takes place, switching from a proof-of-work model to a proof-of-stake model. Which is to say that it will upend the way mining is handled, rewarding present third-party agents in a transaction versus having a bunch of high-powered computers vie to be the first ones to solve a complex set of math problems and reap the coin rewards.
If the proof-of-stake turns out to be the future of cryptocurrencies and blows the older models out of the water, expect ETH to take off while the Ethereum Classic price will likely not see a benefit from this innovation, and may in fact be hurt by its reliance on an old-school model.
ETC vs ETH Conclusion
So where does that leave us with the two Ethereums?
This isn’t as cut and dry as “Coke” and “Coke Classic,” for those that remember the amazing failure of a product campaign that new Coke turned out to be.
Trying to say one is superior to the other would require knowledge of the future, although projections can inform your decision.
For instance, ETH is quite widely regarded as being an innovative and strong player in the cryptocurrency market. As such, it gets a lot of media attention and hype builds around such a focus. In fact, many believe that Ethereum has the ability to challenge Bitcoin’s dominance as top dog in the cryptocurrency market.
But with the attempt at innovation comes risk, and those are risks you may not be willing to take on. In which case, ETC may be the more stable bet, albeit stability in the cryptocurrency market is a lauded term to begin with.
Besides, most people are playing the cryptocurrency market due to the volatility and the potential for huge gains in relatively short amounts of time.
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