Topic: ***Edited*** (Read 141 times)
I think there is no competition at all, etc is just a fork of the real eth, some people also used to call it the shadow eth, personally im not a fan of etc but i do know many traders that are very confident about it, personally i think ethereum is the top coin that is way ahead from all others not just the etc.
Ethereum is a fork of Ethereum classic.
Hackers stole 50 million in DAO (an ERC20 token) and Vitalik decided to make a hard fork on the previous chain.
On this new chain, called ETHEREUM, there was an smartcontract that allowed users to withdrawl all the DAO that was stolen, which would be paid in Ethereum.
The community was splitted. Whoever supported the Hard fork (ethereum) and who didn't want to fork (Ethereum Classic)
This hard fork (Ethereum) opened a lot of questions about immutability and "code is law".
I am very happy Bitcoin never did something similar (such as Mt Gox episode)
Source and more information:
https://blockgeeks.com/guides/what-is-ethereum-classic/
Hackers stole 50 million in DAO (an ERC20 token) and Vitalik decided to make a hard fork on the previous chain.
On this new chain, called ETHEREUM, there was an smartcontract that allowed users to withdrawl all the DAO that was stolen, which would be paid in Ethereum.
The community was splitted. Whoever supported the Hard fork (ethereum) and who didn't want to fork (Ethereum Classic)
This hard fork (Ethereum) opened a lot of questions about immutability and "code is law".
I am very happy Bitcoin never did something similar (such as Mt Gox episode)
Source and more information:
https://blockgeeks.com/guides/what-is-ethereum-classic/
A novice investor in Ethereum will quickly start to have questions.
The digital currency tends to cause its followers "Ethereum-fever". Shortly after purchasing the token, people begin to study the technology of blockchain and decentralized applications (dapps).
And here the big question arises: why are there two Ethereum?
If you go to CoinMarketCap, you will notice that the digital currency called Ethereum classic is a few points below the Ethereum currency. These tokens have a lot in common: a strong development team, long-term potential and excellent technology.
This similarity exists, because they literally copy each other.
Most investors think that Ethereum will be the winner.
However, this did not stop the growth of Ethereum classic — it has grown by 1.171% since the beginning of this year.
How did we get into a situation where the parallel versions of Ethereum operate in the digital currency market?
Like all typical break-up stories, this one started with a crisis.
Fork.
A long time ago, in the distant, distant past of the blockchain... there was one Ethereum network.
And then there was a disaster.
This event was a digital attack. At one time, numerous investors made financial investments (and, therefore, a share) in the original Ethereum blockchain.
The attack was carried out by one person who stole the money and moved it to a separate account.
In a hurry to fix the situation, Ethereum developers have proposed to make changes to the blockchain for a refund.
This decision was met with some resistance, as a compromise, the blockchain was duplicated, so the original Ethereum could remain unchanged.
Several members of the Ethereum community disagreed with the change, insisting that the blockchain could not be modified to remain secure and protected from hacking.
So, the technology is divided into two parallel blockchain.
These community members continued to mine on the unaltered Ethereum blockchain and thus formed two Ethereum.
The digital currency tends to cause its followers "Ethereum-fever". Shortly after purchasing the token, people begin to study the technology of blockchain and decentralized applications (dapps).
And here the big question arises: why are there two Ethereum?
If you go to CoinMarketCap, you will notice that the digital currency called Ethereum classic is a few points below the Ethereum currency. These tokens have a lot in common: a strong development team, long-term potential and excellent technology.
This similarity exists, because they literally copy each other.
Most investors think that Ethereum will be the winner.
However, this did not stop the growth of Ethereum classic — it has grown by 1.171% since the beginning of this year.
How did we get into a situation where the parallel versions of Ethereum operate in the digital currency market?
Like all typical break-up stories, this one started with a crisis.
Fork.
A long time ago, in the distant, distant past of the blockchain... there was one Ethereum network.
And then there was a disaster.
This event was a digital attack. At one time, numerous investors made financial investments (and, therefore, a share) in the original Ethereum blockchain.
The attack was carried out by one person who stole the money and moved it to a separate account.
In a hurry to fix the situation, Ethereum developers have proposed to make changes to the blockchain for a refund.
This decision was met with some resistance, as a compromise, the blockchain was duplicated, so the original Ethereum could remain unchanged.
Several members of the Ethereum community disagreed with the change, insisting that the blockchain could not be modified to remain secure and protected from hacking.
So, the technology is divided into two parallel blockchain.
These community members continued to mine on the unaltered Ethereum blockchain and thus formed two Ethereum.
Ethereum Classic is the old Ethereum Network. After the hard fork, the Eth network divided into two groups. The older coins was called ETC and the new coins were called as Ethereum. Few major differences between these are
* Ethereum doesn't have a fixed supply (uncapped supply) whereas ETC is having a supply averagely ranging from 210~230 million.
* Eth will be moving to POS, ETC will remain as POW
* ICO's will most probably be launched only in the Eth network and ETC will be lagging behind Eth in terms of ICO launched.
The reason why Eth is popular because Miners, Investors went with new blockchain rather than the old eth blockchain which ETC is currently following now.
* Ethereum doesn't have a fixed supply (uncapped supply) whereas ETC is having a supply averagely ranging from 210~230 million.
* Eth will be moving to POS, ETC will remain as POW
* ICO's will most probably be launched only in the Eth network and ETC will be lagging behind Eth in terms of ICO launched.
The reason why Eth is popular because Miners, Investors went with new blockchain rather than the old eth blockchain which ETC is currently following now.
What are the main differences between these two coins?
https://blockgeeks.com/guides/what-is-ethereum-classic/
***Edited***
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