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As it may now be clear, despite Ethereum and Ethereum Classic being incompatible with one another, they do provide very similar technology with an aligned roadmap for development. The point at which these two blockchains diverge will be through the introduction of the Casper consensus mechanism expected to launch in on Ethereum. This consensus mechanism moves Ethereum from Proof of Work to Proof of Stake — the latter ensures transactions are validated by those who make a financial stake in Ether as opposed to those who mine new tokens with their GPUs.
Ethereum Classic has so far shown no interest in using a Proof of Stake consensus mechanism, and may indeed find that many existing Ethereum miners move to Ethereum Classic when their hash power is made redundant.
As mentioned, the incompatible nature between Ethereum and Ethereum Classic means that an Ethereum wallet cannot receive Ethereum Classic tokens.
It is important that users looking to purchase Ethereum Classic do so through a specified ETC wallet. There are several of these wallets available to users today, including Classic Ether Wallet which runs through open source code and is widely regarded as one of the most secure ways to store ETC.
Other Ethereum Classic wallets are available including Jaxx. As with any cryptocurrency, storing tokens on your hard drive can result in loss of funds if the private keys are not backed up and the hard drive fails. Storing coins on an exchange can also result in the loss of funds should the exchange go rogue or become insolvent as has happened several times throughout history. The most secure way to store Ethereum Classic or any other cryptocurrency for that matter is through a hardware wallet.
These hardware wallets store funds offline in a physical USB device. The most trusted of these wallets is the Ledger Nano S which holds a strong reputation as an unhackable ETC storage device. Those who are more familiar with crypto can also use a Trezor hardware wallet, however this requires interfacing with MyEtherWallet — something which will certainly be confusing to new users. Once you understand the differences between Ethereum and Ethereum Classic it is possible to draw your own conclusion as to whether this asset is under or overvalued.
The price of Ethereum Classic does not share any correlation with Ethereum, and the fundamental use case of Ethereum Classic must be judged on its own merit. Given the influential companies which back this cryptoasset, it is likely that the currency is here to stay and that its utility for users, developers and businesses will grow in the future. At this point in time, the Ethereum Classic ecosystem is relatively small in comparison to Ethereum, but as these two blockchains diverge and the utility of Ethereum Classic becomes clear, it is possible that the cryptoasset matures into a high growth asset.
In summary, Ethereum Classic appears to be a more risky purchase than the more established coins, but at the same time it has the potential for generating higher returns than its counterparts. A diversified crypto portfolio would do well to include Ethereum Classic. This website is intended to provide a clear summary of Ethereum's current and historical price as well as important updates from the industry. I've also included a number of ERC20 tokens which can be found in the tokens tab at the top right.
Please note, weighted average exchange prices update very slowly for some ETH and token pairs. Investors should seek professional financial advice. Kraken has the world's largest cryptocurrency volume in EUR. Ethereum Classic as an Investment Ethereum Classic has a lower market cap than Ethereum, however its potential for growth has been very apparent since it was formed in July Ethereum Classic Supply One of the key factors to consider when looking to invest in any cryptocurrency is the monetary policy which belies it.
If you're looking to purchase the former, read our guide on buying Ethereum. Ethereum Classic Demand and Scaling As we have seen with both Bitcoin and Ethereum, strong demand will ultimately require scaling solutions which increase network throughput by many orders of magnitude.
How does Ethereum Classic differ from Ethereum? Therefore, it really is more immune blackcoin block explorer outrageous inflation and tainted banks. For Bitcoin, each component is called a satoshi. Sadly, you almost certainly can never get it back. Always will go down! This enables innovative blackcoin block explorer arbitration services to be developed in the future. You have probably heard this many times where you typically spread the good word about crypto.
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