Crypto Post #14: Ethereum vs. Ethereum Classic

Only several days ago, there became a groundbreaking emergency of a new crypto-currency, Ethereum Classic. Ethereum Classic (ETC) resulted from Ethereum’s original source code which has not been integrated into the new post-hard fork Ethereum chain. While many hard fork supporters within the Ethereum community have argued that there is no way that ETC is going anywhere, we would still have to see what will happen with this new type of currency. July 24th was the first day ETC officially started to exist on the crypto-markets. That was the day when its price was seemingly bullish, reaching up to 95 cents per ETC in its peak at the end of the day. However, today is not-so-good news for its price, which currently trades at 53 cents each.

The only major exchange that currently offers ETH Classic trading is Poloniex. So, let’s wait and see what the price of Classic would be when (or if) other exchanges catch up to this currency’s hype. For now, the Ethereum community must just do some research about the Ethereum Classic (kind of reminds me of a Coca-Cola vs. Coca-Cola Classic dissimilarities) and check out what ETH Classic would have to offer in relations to the post-fork ETH.

The thing that got my attention about ETH classic is that its website is completely on Github. This is where its Ideology, Motivation, Goals, Plan, etc. are listed. The crypto’s based location provides a slight implication that ETC is in fact decentralized; its code and source is everywhere and does not have a particular central owner. There is no reason as of now to suspect great promises of ETC. This crypto does bring forth uncertainties to what directions it would go. But, the fact that Ethereum Classic became a top 10 most-capped cryptocurrencies the same day of its official arrival suggests a point that there might be a future for Classic after all. Ethereum fans would have to follow Classic’s progress over the time to determine ETC’s destiny.

 

 

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