Etherium vs Etherium classic, Are Ethereum and Ethereum Classic the same?

Are Ethereum and Ethereum Classic the same?

 Although Bitcoin was the first cryptocurrency to be created since then many cryptocurrencies have emerged that offer additional features, benefits and use cases, such as Ripple and Litecoin are faster and cost less. Currently, the Ethereum network is a blockchain platform that focuses on smart contracts that can be used to run various decentralized applications, known as Dapps.

But did you know that Ethereum originally started as Ethereum Classic? Eventually, the two blockchains split due to disagreements in the crypto community about how to hack, resulting in the Ethereum fork Ethereum (ETH) and Ethereum Classic (ETC).

The two very similar but completely different versions of Ethereum come from the same code but are currently incomparable in terms of community support and developer ecosystem. One of the two is at the center of the recent Defy trend, while the other is always against 51%. All of these reasons and more make some a better investment than others.

What are Ethereum and Ethereum Classic? Understanding the supercomputer smart contract

The Ethereum Virtual Machine (VM) is basically a largely decentralized supercomputer that developers can use to code smart contracts for applications or to run decentralized applications. These decentralized applications can be coded to do anything and this has given rise to a huge industry called decentralized finance or Defi.

Other tokens can be launched through the Ethereum blockchain platform. During the crypto boom of 2017, Ethereum was a platform for launching coin offerings (i.e. ICOs or newly funded ERC-20 tokens), where investors hoped that the next Bitcoin or Ethereum would be discovered first. to buy. This helped Ethereum to reach an all-time high of $4,811 at the 2021 market peak.

Currently, Ethereum is at a new level of $4,400 followed by a red-hot def industry and a still growing NFT market. Defi can replace traditional and permissionless loans, NFTs have brought all kinds of artists, athletes, and celebrities into the space. These influencers attract many users to the crypto space and most of them are now active on Ethereum. Anything based on Ethereum requires ETH to pay for gas, which helps the price of Ethereum to rise.

Ethereum's amazing performance has finally caught the attention of all of Wall Street. For example, Jim Cramer believes that Ethereum will beat Bitcoin because it is the best currency for the above reasons.

But before any of the successful developments for the leading altcoin took place, an Ethereum fork was required due to a problem with a decentralized autonomous organization called the DAO and a related hack that cost users millions of ETH. This fork is a part of the Ethereum blockchain and consists of two tokens: ETC and ETH.

The first Ethereum blockchain was called "classic" and recently forked Ethereum to replace the current Ethereum consensus. However, some members of the community refused to abandon the Ethereum Classic blockchain, which is still in use today, although it doesn't have nearly the same level of support or interest.

ETH and ETC split: how did the fork happen?

When Ethereum founder Vitalik Buterin proposed a fork, two separate Ethereum blockchains were created. The first blockchain was called Ethereum Classic and the new one remained Ethereum. Unlike the Bitcoin and Bitcoin Cash forks, which were created for ideological reasons, the Ethereum fork is necessary to avoid an ecosystem disaster that could lead to a complete collapse of the Ethereum price.

Ethereum trades under the symbol ETH, while Ethereum Classic trades under the symbol crypto, etc. Both native crypto tokens are called Ether, the fuel that powers the Ethereum virtual machine and supercomputer network. Ethereum's split date was in July 2016, before Bitcoin's halving, and it's one of the things that helped the cryptocurrency boom in 2017.

What are the main differences between Ethereum and Ethereum Classic?

Ethereum and Ethereum Classic are the same code, just split into two different routes. However, how these two approaches have evolved over the years has largely determined the speculative value of each asset. Because they are so similar, the differences are small but the differences are big.

Vitalik Buterin first thought of Ethereum after the young engineer became obsessed with bitcoin and blockchain. Realizing that there are asset limitations of the original currency, it sought to use the new technology to create its own crypto platform that supports smart contracts or digital contracts that act and behave in a certain way. creation, creation

Smart contracts can be coded as simple contracts, for things like real estate, or more complex code that governs decentralized transactions, the Defi app, and more. For example, the Uniswap smart contract built on top of Ethereum acts as its own exchange.

Ethereum Classic can do everything Ethereum can do, but it is basically extinct according to the development community. A visual example of this is the Defi Pulse chart, which shows the total value locked in ETH rather than ETC.

There is no DEX, Dapps, NFT, or anything else built on top of Ethereum Classic and 51 percent of cryptocurrencies have been attacked for lack of support.

Both platforms average 12-15 transactions per second, and Ether withdrawal time varies greatly depending on how much ETH gas fees are paid. The higher the amount, the faster the transaction.

In addition to Ethereum transactions requiring the sending of ETH, even ERC-20 tokens generated on Ethereum require the sending of ETH, with capital constantly requesting the creation of more tokens on the platform.

Due to the ETH 2.0 update planned in 2020, Ethereum will support more transactions per second. 32 ETH is required to unlock the ETH 2.0 update and the amount of ETH in the contract is growing day by day.

Ethereum's entire offering is all about keyboard shortcuts. Several of Ethereum's top developers claimed they were completely unaware of recent proposals and were challenged by the bitcoin community. Ethereum core developer Martin Holst Swine says the total current supply is around 112 million ETH.

The supply of Ethereum Classic is around 118,000, according to CoinMarketCap.

If cryptocurrency assets are decentralized enough, the SEC will consider the cryptocurrency a commodity instead. Ethereum is one such cryptocurrency that is more helpful in its adoption by institutions.

Both cryptocurrencies are designed to do the same thing and approach the same use cases and goals. Therefore, Ethereum Classic is often seen as an "attack" against Ethereum because it competes for the same market and user base.

But it's not really a contest. There is no Defi or NFT application built on top of ETC and it is behind the list of cryptocurrencies by market. Ethereum is the number one altcoin, right behind Bitcoin when it comes to all cryptocurrencies.

Trends often change, but not in the case of Ethereum Classic and Ethereum - Ethereum is destined to remain king, while Ethereum Classic remains in obscurity.

ETH vs ETC: Which is the better version of Ethereum to invest in?

If you've read this far, you probably already have a strong idea which of the two is the better version of Ethereum to invest in. It's hard to say that ETC is a good investment overall, given its problems. They are.

First, it is the direct opposite of Ethereum and is considered an attack on the top altcoin, only confusing new users and preventing them from adopting it. Meanwhile, 51 percent successfully attacked multiple times.

A 51% attack occurs when a large enough miner gains more than 51% control of a network's hash rate and then uses it to double spend and steal money. Ethereum Classic is hacked 51 percent of the time, making it a very risky investment.

Ethereum itself has a lot to offer and is, therefore, a much safer investment as a cryptocurrency.

What are the main differences between Ethereum and Ethereum Classic?

Ethereum and Ethereum Classic are the same code, just split into two different routes. However, how these two approaches have evolved over the years has largely determined the speculative value of each asset. Because they are so similar, the differences are small but the differences are big.

conception and creation

Vitalik Buterin first thought of Ethereum after the young engineer became obsessed with bitcoin and blockchain. Realizing that there are asset limitations of the original currency, it sought to use the new technology to create its own crypto platform that supports smart contracts or digital contracts that act and behave in a certain way. creation, creation

Smart contracts can be coded as simple contracts, for things like real estate, or more complex code that governs decentralized transactions, the Defi app, and more. For example, the Uniswap smart contract built on top of Ethereum acts as its own exchange.

Ethereum Classic can do everything Ethereum can do, but it is basically extinct according to the development community. A visual example of this is the Defi Pulse chart, which shows the total value locked in ETH rather than ETC.

There is no DEX, Dapps, NFT, or anything else built on top of Ethereum Classic and 51 percent of cryptocurrencies have been attacked for lack of support.

negotiation and speed

Both platforms average 12-15 transactions per second, and Ether withdrawal time varies greatly depending on how much ETH gas fees are paid. The higher the amount, the faster the transaction.

In addition to Ethereum transactions requiring the sending of ETH, even ERC-20 tokens generated on Ethereum require the sending of ETH, with capital constantly requesting the creation of more tokens on the platform.

Due to the ETH 2.0 update planned in 2020, Ethereum will support more transactions per second. 32 ETH is required to unlock the ETH 2.0 update and the amount of ETH in the contract is growing day by day.

delivery and distribution

Ethereum's entire offering is all about keyboard shortcuts. Several of Ethereum's top developers claimed they were completely unaware of recent proposals and were challenged by the bitcoin community. Ethereum core developer Martin Holst Swine says the total current supply is around 112 million ETH.

The supply of Ethereum Classic is around 118,000, according to CoinMarketCap.

If cryptocurrency assets are decentralized enough, the SEC will consider the cryptocurrency a commodity instead. Ethereum is one such cryptocurrency that is more helpful in its adoption by institutions.

use case and target market

Both cryptocurrencies are designed to do the same thing and approach the same use cases and goals. Therefore, Ethereum Classic is often seen as an "attack" against Ethereum because it competes for the same market and user base.

But it's not really a contest. There is no Defi or NFT application built on top of ETC and it is behind the list of cryptocurrencies by market. Ethereum is the number one altcoin, right behind Bitcoin when it comes to all cryptocurrencies.

Trends often change, but not in the case of Ethereum Classic and Ethereum - Ethereum is destined to remain king, while Ethereum Classic remains in obscurity.

ETH vs ETC: Which is the better version of Ethereum to invest in?

If you've read this far, you probably already have a strong idea which of the two is the better version of Ethereum to invest in. It's hard to say that ETC is a good investment overall, given its problems. They are.

First, it is the direct opposite of Ethereum and is considered an attack on the top altcoin, only confusing new users and preventing them from adopting it. Meanwhile, 51 percent successfully attacked multiple times.

A 51% attack occurs when a large enough miner gains more than 51% control of a network's hash rate and then uses it to double spend and steal money. Ethereum Classic is hacked 51 percent of the time, making it a very risky investment.

Ethereum itself has a lot to offer and is, therefore, a much safer investment as a cryptocurrency.

tested.

Ethereum vs Ethereum Classic: Historical Price Action Analysis

Sometimes the easiest way to know if an asset is worth investing in is to look at its historical price. Ethereum's price history is all over the place, which makes comparing the two cryptocurrencies even more interesting.

According to CoinMarketCap, Ethereum traded as high as $1 in 2015 and then to $15 in 2016. In 2017 alone, Ethereum went from $10 to a high of $1,400.

The demand for ICOs has fueled Ethereum growth, with eager investors looking to make a fortune by finding the next Ethereum to exchange for new tokens. However, the trend came to an end and the cryptocurrency fell from $1,400 to $80.

Ethereum rose again, reaching a new high of over $4,500 per ETH. A massive selloff brought the price back to $1,800, but Ethereum again traded above $2,000, committing to a longer recovery.

The 2017 bull run also benefited Ethereum Classic, taking it to an all-time high of $50 per coin. coin.

But this year, Ethereum Classic has been more explosive than Ethereum itself, outperforming altcoins in 2021 after being on the defensive. ETC has rallied from a bear market of around $3 per share. coin to over $150.

Ethereum Classic vs Ethereum: Price Predictions for Top Altcoins

Ethereum price predictions hit $35,000 per coin, while Ethereum Classic price predictions are usually a few hundred dollars per coin, even around current levels. This shows that experts believe that Ethereum (ETH) is more secure than Ethereum Classic (ETC).

Ethereum Classic vs Ethereum: The Ultimate Crypto Smart Contract Champion

Ethereum has almost everything and is the most important cryptocurrency in the space. Most of the rest of the cryptocurrency market is built on Ethereum smart contracts, and most other tokens require ETH to use them, making them in high demand.

Ethereum is at the heart of all the Defi and NFT trends that have exploded in cryptocurrency in recent months. Ethereum is the top-ranked altcoin, second only to Bitcoin in terms of total market capitalization.

Ethereum Classic is now number 20 on the list of market cryptocurrencies and it is hard to say that it deserves it. Tokens are often a trap asset for new crypto investors who don't know the difference and think it's Ethereum. The 51% strike made ETC a high-risk cryptocurrency that outperformed other assets in the new asset class.

Trading Ethereum with PrimeXBT: A step-by-step guide to trading ETH

In Ethereum, there is a clear winner between ETH and ETH. Ethereum. You can maximize your investment opportunities by trading with Ethereum. PrimeXBT is an award-winning Bitcoin-based platform that offers CFD trading on stock indices, commodities, foreign exchange, and cryptocurrencies such as Bitcoin, Ethereum, EOS, Ripple, and Litecoin. The absence of Ethereum Classic from this list further emphasizes that it is a poor investment choice. PrimeXBT allows traders to scale and short Ethereum contracts using leverage, stop-loss, and take-profit tools, and technical analysis software to plan and prepare strategies ahead. First, you need to sign up for a free PrimeXBT trading account. The minimum deposit is 0.001 BTC. Users can enter this amount to fund their trading account or buy Bitcoin through the account panel. Once your account is funded, open the analysis section and start preparing strategies based on support and resistance levels, or use one of the many included technical indicators.

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