Ethereum Classic isn't a replacement cryptocurrency, however instead a split from an existing cryptocurrency, Ethereum. each blockchains are identical in each high till block 1920000 wherever the hard-fork to refund The DAO token holders was enforced, which means that every one the balances, wallets, and transactions that happened on Ethereum till the hard-fork are still valid on the Ethereum Classic Blockchain. when the hard-fork, the blockchains were split in 2 and act one by one.
Ethereum Classic still offers constant options as Ethereum, like the creation and readying of sensible contract and suburbanised applications, and has all constant specifications, like average block time, size and reward.
Pros
1. Stays true with the philosophy of the immutableness of the blockchain.
2. Has recently got the backing of a couple of huge players
Cons
1. Doesn’t get access to all or any the new updates created within the ETH chain (e.g.,. The move from prisoner of war to POS).
2. All the heavyweights of the Ethereum have stirred on to ETH.
3. Is understand to be full of scammers.
When the hard-fork was enforced, users that didn't believe it set to not upgrade their software and to continue mining on the blockchain that didn't have this implementation. Hard-fork creates an incompatibility between the new and old versions, the users that set to remain on the "old" blockchain, have diverged into their own blockchain that's clone of Ethereum's in each manner till block 1920000.
Market summary
Current value - $11.49
Market Cap - $1,099,342,539
Volume (24h) - $84,637,900
Circulating supply - 95,662,383 ETC
Decentralized Governance
There are several issues that fester as a result of centralization and opaqueness; corruption, unaccountability, nepotism, unskillfulness and stagnation. Ultimately, centralization ends up in fragility; solely decentralized systems will stand the check of your time.
These issues may be solely resolved by adhering to governance systems that don't admit a central purpose of failure. similar to distributed networks and also the agreement protocol itself, we believe that solely actually decentralized comes will survive within the end of the day.
Users
Everyone who had ether tokens before DAO bailout fork currently has an equal quantity of classic ethers (ETC) on constant address.
Blockchain technology exists to serve the individuals, and this will solely be achieved fairly and effectively if the the network is neutral to that transactions get processed. within the end of the day, solely applications that run this manner are going to be actually trustless, and that we would like the assistance of everyday users to grow the network and build demand for helpful ETC dApps.
Developers
Progression of technology is that the elementary motivating issue of developer adoption. ETC represents another probability to continue the event of the first world-changing decentralized Turing complete sensible contract platform.
From new to experienced, whether you are a dApp, protocol, native developer or internet the Ethereum Classic community invariably welcomes your facilitate implementing the first Ethereum vision.
Miners
Emergence of Ethereum Classic created an enormous chance for miners. ETC is presently one in every of the foremost profitable tokens to mine and is attracting substantial hash power with zero switching value.
As a miner, it’s in your best interests to support ETC. Ethereum Foundation goes to “fire” all Ethereum miners by shift to experimental PoS model.
Investors
People who perceive the core worth proposition of open, neutral, changeless blockchains have a chance to take a position within the growth of the first Ethereum vision by buying classic ether tokens (ETC).
ETC network is 100 percent compatible with Ethereum technology whereas giving further edges of untampered blockchain, inevitable financial policy, suburbanised development and specialise in building a secure and sturdy platform, as opposition Ethereum’s “move quick and break things” philosophy.