Ethereum appeared in 2015 and proposed a radically new system, albeit similar to the well-known Bitcoin. Its developers continue to upgrade cryptocurrency directly on the go, and one of these updates, in the form of a transition to the proof of stake algorithm, led to a split among its developers. Those who considered that such an innovation violates the principle of decentralization of the cryptocurrency, separated from the Ethereum Foundation and proclaimed themselves the founders of the cryptocurrency Ethereum classic.
Currency arose as an expression of protest. When, from the initiative of the founders of the ether, there was a transition to a new algorithm for the system, it was necessary to replace all the software miners. Many did not do this and continued to work on the old software, which led to the separation in another blockchain and another Ethereum classic system. The new chain, in fact, is not a new currency, but only such an old version of the ethereum, which stumbles into something else. Further, the developers came up with a different logo and changed the name in order to somehow be identified – this is how ETC came into being.
The fundamental difference between this currency and derivatives, for example, Bitcoin, is that the Ethereum classic is not a fork of Ethereum, but rather the opposite because of Classic works according to old principles that the founders of ethereum refused.
To date, we can observe that the course of the classic broadcast began to noticeably go up. At the time of writing, it was $ 18.62 for 1 ETC, many experts say that this is not the limit, and in the future, it is from this cryptocurrency that we should expect good growth because the public is paying more attention to it. In addition, many express the opinion that the classic éterium is even capable of overtaking a forked crypto sign because the latest technical innovations of Vitalik Buterin and companies make it possible to believe that in the future they can negatively affect the currency.
Thus, a young, and in fact, long familiar to us all, cryptocurrency makes it possible to make good money on the course. If the experts’ forecasts come true, then we can expect from Ethereum Classic further development and distribution, which will lead to a significant increase in value.