ETC vs ETH: Differences
ETC vs ETH: Differences
Ethereum Classic: Introduction
Ethereum Classic (ETC) is a hard fork of the Ethereum blockchain, which was created after the core developers of Ethereum decided to reverse a hack that saw the loss of over $50 million worth of Ether in 2016. The decision to reverse the hack was controversial since it went against one of the core principles of blockchain – immutability. As a result, a group of Ethereum enthusiasts decided to continue with the original blockchain and created Ethereum Classic. Ethereum Classic is a decentralized platform that allows developers to build decentralized applications (dApps) on a secure, immutable blockchain.
Useful site: https://ethereumclassic.org/
ETC vs ETH: Supply and Market Cap
The most obvious difference between Ethereum Classic and Ethereum is their respective supply and market cap. Ethereum has a maximum supply of 111,209,664 ETH, while Ethereum Classic has a maximum supply of 210,700,000 ETC. The current market cap of Ethereum is around $400 billion, while the market cap of Ethereum Classic is around $5 billion. This makes Ethereum significantly larger than Ethereum Classic in terms of market cap and adoption.
Useful site: https://coinmarketcap.com/
ETC vs ETH: Hashrate and Mining
Another significant difference between Ethereum Classic and Ethereum is their hashrate and mining algorithm. Ethereum uses a Proof of Stake (PoS) consensus algorithm, which means that miners can earn ETH by verifying transactions on the network. Ethereum Classic, on the other hand, uses a Proof of Work (PoW) consensus algorithm, which means that miners must solve complex mathematical equations to earn ETC. Since Ethereum Classic uses PoW, it is more susceptible to 51% attacks, where a group of miners control more than 50% of the network hashrate.
Useful site: https://www.stateofthedapps.com/
ETC vs ETH: Development and Updates
Ethereum Classic has a smaller development team compared to Ethereum, which means that new updates or improvements may take longer to be implemented. Ethereum, on the other hand, has a larger development team and community, which means that updates and improvements are usually implemented faster. Ethereum has also embraced new technologies such as sharding and plasma, which aim to improve the scalability and speed of the network. Ethereum Classic, on the other hand, has focused on maintaining the original principles of the Ethereum blockchain, such as immutability.
Useful site: https://github.com/ethereumclassic
ETC vs ETH: Frequently Asked Questions
What is the difference between ETC and ETH?
The main difference between Ethereum Classic and Ethereum is their respective supply and market cap, their hashrate and mining algorithm, and their development and updates.
Which is better, ETC or ETH?
Which is better between Ethereum Classic and Ethereum largely depends on your investment strategy and goals. Ethereum has a larger market cap and adoption, while Ethereum Classic has maintained the principles of the original Ethereum blockchain, such as immutability.
Can I use ETC on Ethereum?
No, you cannot use Ethereum Classic (ETC) on the Ethereum blockchain. Ethereum Classic is a separate blockchain and has its own tokens, wallets, and exchanges.
Conclusion
Ethereum Classic and Ethereum are two separate blockchain platforms with their own unique features and characteristics. Ethereum Classic has maintained the original principles of the Ethereum blockchain, such as immutability, while Ethereum has embraced new technologies to improve the speed and scalability of the network. Both platforms have their own strengths and weaknesses, and which one is better largely depends on your investment strategy and goals.