Ethereum Classic is a decentralized platform that runs smart contracts: applications that run exactly as programmed without any possibility of downtime, censorship, fraud or third party interference.
ETC is a hard fork of ETH. Ethereum Classic allows un-censorable smart contracts to be written, deployed and executed; ETC enables truly unstoppable programmable money. It is the continuation of the unaltered history of the original Ethereum chain. The ETC network exists to preserve the principle of “Code is Law”. Its main aim is to preserve the Ethereum blockchain as it originally was, without artificially countering the DAO hack. We have seen an increase in ETC price in the past few days.
Why ETC?
Ethereum Classic’s main aim is to preserve the Ethereum blockchain as it originally was, without artificially countering the DAO hack. Its appeal was first to those who disagreed with Ethereum’s response, but the legacy network has since gained a wider fan base, which include major investors such as Barry Silbert, CEO of investment firm Grayscale. As a voluntary organization, the developers of ETC do not aim to turn the network into a for-profit entity. Users pay transaction fees as with Ethereum, and miners collect them based on work done as per the proof-of-work (PoW) mining algorithm.
ETH V/S ETC
Unlike Ethereum, Ethereum Classic has no plans to convert to a proof-of-stake (PoS) mining algorithm, while multiple developers continue to work on future improvements such as scaling solutions.
Let us review ETC price.
ETC Price Prediction
ETC is currently trading just above the support zone of $51.25. If it can consolidate above this support, we could start seeing a move towards $71.57, $93.13, $110.55 and $127.97. If it can flip $127.97, we could soon start seeing a move towards $152.78 and $184.37. Failure to hold the support at $51.25 could lead to a drop towards $36.24. Below this zone, there is no support till $20.75.
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