In-depth analysis of ETC coins: Real Ethereum? The Ethereum classic of code is law!

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This video will take you into the deeper understanding of the history, characteristics of ETC coins and its key differences from ETH! Highlights of video content: What is Ethereum Classic (ETC)? Revealing the background of ETC's birth and the whole story of the fork with Ethereum. What is “code is law” means: How does the core philosophy of ETC affect its development and community? Key Differences between ETC and ETH: From monetary policy to consensus mechanisms, in what aspects does ETC differ from ETH? Use and acquisition methods of ETC coins: What can ETC be used for? Where can I buy ETC? (Please pay attention to the trading platform link in the description column below the video 👇) The future outlook of Ethereum Classic: What role does ETC play in the cryptocurrency world? What is its value proposition? Whether you are interested in blockchain history or want to understand the difference between ETH and ETC, this video will provide you with clear and comprehensive answers! ETC currency, full name Ethereum Classic, is the native cryptocurrency of the original, unmodified Ethereum blockchain. It was born from a famous blockchain incident in 2016, The DAO hacking incident. At that time, the Ethereum community had a disagreement over whether the losses caused by hackers should be rolled back and forth through hard forks. Ultimately, most community members chose to perform hard forks, creating what we know today’s Ethereum (ETH). A small number of community members insist that blockchain should be tampered with and insist on continuing to develop on the original chain. This chain became Ethereum Classic, and its native token is ETC. Historical context of the Ethereum Fork: In 2016, a decentralized autonomous organization called The DAO ran on Ethereum and raised a large amount of funds. However, due to vulnerabilities in the smart contract, The DAO was hacked, resulting in a large amount of ETH stolen. In order to recover the losses, the Ethereum community voted and finally decided to roll back the blockchain's status through a hard fork and return the funds to investors. However, some community members adhere to the concept of "Code is Law" and believe that the historical records of blockchain should not be modified, even to make up for the losses. They chose to continue running the unforked original Ethereum blockchain, which is where Ethereum Classic comes from. The main differences between ETC coins and ETH coins: Core concept: The core concept of ETC is "code is law", emphasizing the immutability of blockchain. ETH, on the other hand, prefers community intervention when necessary to protect user interests and network security. Monetary Policy: ETC has a fixed upper limit on the money supply, about 210 million. However, ETH did not have a fixed supply limit before the merger. Although the issuance volume decreased after the merger, there was still no clear upper limit. Consensus mechanism: ETC still uses the Proof-of-Work (PoW) consensus mechanism for mining. ETH completed the "merger" in September 2022 and successfully transitioned to the Proof-of-Stake (PoS) consensus mechanism. Development and Ecosystem: ETH has a larger and more active developer community and a richer ecosystem than ETC, including more DeFi applications, NFT projects, etc. The ETC ecosystem is relatively small. Market value and attention: ETH's market value and market attention are much higher than ETC. Usage of ETC coins: Even though the ecosystem is not as prosperous as ETH, ETC still has its uses: Running smart contracts: ETC can run smart contracts like ETH to build decentralized applications. Pay transaction fees: ETC is used to pay for transactions and running smart contracts on the Ethereum Classic network. Store of Value: Some people believe that ETC has the potential as a store of value because it insists on the immutability of the original Ethereum blockchain. Mining Rewards: Miners receive ETC rewards by participating in the PoW consensus mechanism of the ETC network. How to obtain ETC coins: Users can purchase ETC coins through the cryptocurrency trading platform linked in the description column below the video. ETC Coin Market Performance: Ethereum Classic (ETC) As one of the long-standing cryptocurrencies, it still has a certain popularity and trading volume in the market. Its prices are affected by market sentiment, technological developments, community activities, and overall cryptocurrency market conditions. Community and Development of ETC Coin: ETC has a loyal community that adheres to its “code is law” philosophy and is committed to promoting the continued development of the ETC network. Controversy and challenges of ETC coins: The existence of ETC itself stems from a major controversial event. Its challenges include relatively slow ecosystem development, competition with ETH, and market perceptions of its long-term value. Summary: Ethereum Classic (ETC) is the original Ethereum blockchain that adheres to the core principle of blockchain immutability. While its ecosystem and market size are not as large as Ethereum (ETH), it still has its own unique value proposition and community support. #Cryptocurrency#digital currency#virtual currency#foreign exchange#currency circle#digital assets#investment and financial management