The Future Of Ethereum Classic ETC Mining

In the busy world of cryptocurrency there are as yet no than that of the DAO Ethereum fiasco that gave rise to the battle: vs. Ethereum Classic. Although the full story of the DAO issue is available everywhere on the internet, the Readers Digest version is that a type of investors group, called a distributed autonomous organization (DAO), raised $150M in working capital – in Ether – through community crowdsourcing. Promptly thereafter, in June 2016, hackers exploited a loophole in the regulations governing, inserted a recursive command, and made off with $50M in the currency. Or they almost did.

Also, the profit per month for ETH is 4.07 $ more than ETC, which is quite nominal.But the market cap of Ethereum (ETH) is more as compared to Ethereum classic (ETC) ie. Approximately $ 28 B for ETH and $ 1.5 B for ETC. In a case like ethereum, which now has two competing versions, ethereum (ETH) and ethereum classic (ETC), not converging will do more harm than converging on the inferior branch. LBRY Credits LBC Mining Profit Calculator Game. We've reached the point where there are only two realistic outcomes for ethereum: a bifurcated project, confusing users and developers, or convergence on the ETH chain.

Because of a 28-day hold imposed on withdrawals of this nature, the money couldn’t disappear into the bad guys’ wallets. / Pixabay That’s. The majority in the Ethereum community saw this theft as a uniquely bad thing. It was important, they felt, that the money be returned to its rightful owner/investors. So, they instituted a do-over – a re-coding of the block in the blockchain that effectively erased the theft. It was known as a hard fork, since it irrevocably edited the history of Ethereum. The Hard Fork While most saw this as a positive step, there were others who saw it as a rejection of everything that: an immutable and transparent record of contracts and transactions.

Ethereum Classic The Bitcoin of smart. ETC Mining Pools: 2 Miners Pool. Nobody can predict the future. My 2 cents is that ETC will fall further and. What is the Ethereum Classic future? So I believe in the future if the price of eth rise higher, etc will also increase with it. However all just a prediction.

“What good is a blockchain,” they asked, “if anyone can simply go in an edit it on a whim?” This group rejected the results of the 2016 hard fork and continued on with a parallel Ethereum blockchain that retained its original history, including the losses incurred in the DAO attack. They named it Ethereum Classic. A year later, both strains of the currency continue to exist. Ethereum (ETH) is by far the most successful, being the after Bitcoin. It recently sailed to a high of $380 or so, and dropped during July 2017 to below $200, which many analysts say is a correction to more realistic valuation, following months of speculation, bandwagon fever, and ICOs. It has a market cap of $18,349,161,492. Ethereum Classic (ETC) has remained the underdog, with a more humble price of $16-17, and a market cap of $1,619,859,188 (all numbers current as of July 14, 2017, in US dollars).

But they both still exist, and neither is out of the running despite the confusion – and potential for duplication – that the existence of parallel Ethereum blockchain structures allows. The Differences So, what are their differences? What is the essence of the Ethereum vs. Ethereum Classic divide? Ethereum (ETH) is the success story at present. The big players including Vitalik Buterin are behind it, and they continue to improve and enhance the platform.

A major shift is on its way that will change ETH mining from a proof-of-work model to a proof-of-stake. This may change the game for cryptocurrency mining in general, if successful, but because it is happening after the hard fork, owners and miners of Ethereum Classic will be left out, with no access to this or any other change.

ETH is the darling of the investment crowd at present and is homing in on Bitcoin’s kingdom. But then there is the ideological split. The camp that supports Ethereum Classic asks “how many more corrections will be allowed? How many more hard forks? How many more violations of the supposed sanctity of the blockchain?

How many different versions of Ethereum might this create?” Philosophical differences in an ideal tend to create acrimony, splinter groups, and the potential for sabotage, which can lead to public disputes and negative press in an era when all cryptocurrencies continue to struggle for. The Future Despite the split, both versions of Ethereum have a future worthy of scrutiny. Although Ethereum (ETH) has plummeted from its 52-week high of $380, it continues to be the primary fuel of the ethereum blockchain, which itself continues to gain traction in all areas of commerce and finance, with major banks, industries, and governments instituting tests of blockchain technology for their day-to-day activities. Along with its ongoing evolution and sophistication, it stands a good chance of rebuilding and exceeding its peak price of last month and growing market share. As for Ethereum Classic (ETC), it more than held its own in mid-July, gaining value while the other big five all descended along very similar lines. Short-term future gains might also be realized as China’s major exchanges all bring ETC online in the next few days. As continues to evolve, the principles of internal purity and immutability may become significant deciding factors for those interested in purchasing Ethereum, but who are wary of its DAO misstep.

Its relatively low price point might pale in comparison to ETH and to Bitcoin, but they, too started at the bottom and had to work upwards. For the time being, the two exist like David and Goliath, or Shrek and Donkey, depending on your approach. But with the advent of the proof-of-stake mining change, the Ethereum vs.

Ethereum Classic relationships might yet even out.

The younger brother of Ethereum, Ethereum Classic, seems to have been somewhat neglected over the past 4 months as most people have been focused on the main Ethereum network and there were not many reasons to look for alternatives. As a result, the price of Ethereum Classic (ETC) on Bitcoin markets has been decreasing continuously and currently sits at around 0.002 BTC, which is the lowest value since April 2017. It is true that ETC appreciated more than 20-fold against USD in the last year, but honestly, which cryptos did not appreciate against fiat money? At first look, ETC’s situation does not seem to be very promising. However, further analysis might bring us to an opposite conclusion.

First of all, let’s take a look at (ETH), which is starting to have difficulties to process the ever-growing number of transactions. Gemini Api Viacoin VIA. An interesting occurrence came after the game, which runs on the Ethereum network and allows users to trade their kitties for Ether, became popular. A recent article on the BBC stated: “According to ETH Gas Station, the CryptoKitties game accounts for over 10% of network traffic on Ethereum.

As traffic increases, transactions become more expensive to execute quickly. “The real big issue is other major players looking for alternatives to Ethereum and moving to different systems.” Mr. Hileman says” Since there are many similar games in development, we can expect Ethereum to get flooded with transactions soon, not even counting the increasing number of business users. This being said, the search for reasonable alternatives seems inevitable.

What is the alternative going to be? Well, you probably guessed. Ethereum Classic has near enough the same functionality as Ethereum, so it is obviously the first candidate. If businesses and users start leaving Ethereum for Ethereum Classic, an according part of their funds will go with them. And since ETC now reaches only 3% of the value of ETH, even if only 10% of the funds are transferred, it will be a huge boost for ETC. Another good sign can be seen from the ETC/BTC price chart, from which it is clear that the bearish trend lost its power and the price saturated at the current level of about 0.002 BTC, where it probably found its bottom. This is also relatively close to the all-time low of about 0.001 BTC, so it is reaching a very strong support level as very few people are willing to sell this low.

Will we see a reversal of the trend? As always, it is difficult to make any predictions. However, it seems quite likely that Ethereum Classic will profit significantly from the upcoming problems of its big brother. This is a sponsored press release and does not necessarily reflect the opinions or views held by any employees of The Merkle. This is not investment, trading, or gambling advice. Always conduct your own independent research.

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