Judging by the manner of all things Digital Currency it would be fairly easy to assume that it will rise in time.
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.
Ethereum Classic was initiated by a Russian-speaking segment of Ethereum users, and subsequently embraced by other Ethereum users in opposition to the DAO hard fork. While supported by “Bitcoin maximalists,” the heart of the project consisted of a group of people who self-identified as members of the Ethereum community.
There was one condition in the contract, however, after splitting off from the DAO you would have to hold on to your ether for 28 days before you could spend them. So everything looks nice and spiffy for now….except, there was one little problem. A lot of people saw this possible loophole and pointed it out. The DAO creators assured that this was not going to be a big issue. The only thing is, it was, and that created the entire storm that split Ethereum into Ethereum and Ethereum Classic.
The main problem with the ETC is the lack of backward compatibility with the Ethereum Hard Fork. All the heavyweights of the Ethereum community have moved on to the new chain, which means that anyone who is part of the ETC won’t be able to access any of the updates done by the ETH. The perfect example is ETH’s move from Proof Of Work (PoW) To Proof of Stake (PoS). ETC won’t be able to implement that because their software simply doesn’t allow the use of updates.
Let’s list out the pros and cons of both Ethereum Classic & Ethereum
Ethereum Classic
Pros
Stays true with the philosophy of the immutability of the blockchain.
Has recently got the backing of a few big players
Cons
Doesn’t get access to all the new updates made in the ETH chain (e.g.,. The move from POW to POS).
All the heavyweights of the Ethereum have moved on to ETH.
Considered an insult and an attack on the Ethereum community.
Is know to be full of scammers.
Ethereum
Pros
Is growing at an exponential pace.
Has the majority of the original big dogs who have created Ethereum in its corner.
Has reversed the DAO hack and given back the stolen money to its rightful owners (the DAO token holders).
Is being constantly updated with the latest changes.
Has a higher hash-rate than ETC.
A powerful example of what the Ethereum community is capable of when it comes together to solve a problem.
ETH is backed by a powerful group of over 200 corporations called the Enterprise Ethereum Alliance (EEA) which aims to use the blockchain technology to run smart contracts at Fortune 500 companies. Members include:Microsoft, JP Morgan, Toyota, ING, etc.
Cons
Goes against the policy of immutability.
Ethereum has made a spectacular comeback from an absolute disaster, and it looks like it’s going fulfill all the expectations that people had had in it when it started. More than anything, the true power of Ethereum lies in its full scope. It is not just a currency; it is a platform on which people can build projects which will dictate the future. If decentralization is indeed the future, then Ethereum is going to be in the front and center of it.
For ETC, unfortunately, the same can’t be said. In the eyes of the people, ETC is always going to be black sheep of the Ethereum family. As of right now, ETH is nearly 15 times more valuable than ETC, and it really isn’t going to get any better. Plus, the fact that ETC is known to be full of scammers only reduces the trust that people have in it, which in turn reduces its value. Are we saying that it is going to completely disappear from the market? No. Are we saying that it doesn’t have much growth potential? Maybe, maybe not. The beautiful thing about the blockchain space is… as Milton Fridman said “Free choose”
ETC chosen to keep their chain and move forward, that’s the beauty of blockchain mechanics and free capitalism.