Difference between ETH and ETC?
Coins supply
Ethereum has now switched to the Proof of Stake consensus algorithm. Therefore, its maximum quantity is no longer limited by the mining process. Ethereum's aggregate supply volume corresponds to its circulating stock and is continuously changing as block developers release new coins.
Ethereum Classic's supply limit is 210,700,000 coins.
Mining
Due to the fact that Ethereum Classic is based on the Proof of Work consensus algorithm, the production of new coins is done through mining. With Proof of Stake consensus, the production of new Ethereum coins is ensured by minting.
Fees
The average commission per transaction in Ethereum is 0.0026 ETH, and 0.0001 ETC in Ethereum Classic.
Transaction speed
The block rate on Ethereum is 13 sec, unlike Ethereum Classic, which shows approximately the same figures.
When was Ethereum Classic created?
Ethereum Classic is the result of the separation of the Ethereum network. The split happened in 2016 after a hacker found a hole in the project's code. This led to a loss of $50 million in Ethereum. As a result, there was a community split that branched out and created a new Ethereum. Thus, 2 currencies ETH and ETC appeared on the network. And now, Guarda wallet helps investors to work with Ethereum Classic.
How does Ethereum classic work?
A point that the Ethereum Classic community strives for is a commitment to the decentralized principle of governance. Their point of view on this issue is that only decentralization can ensure the longevity of the project. In addition, they point out that decentralization excludes such cases as corruption, irresponsibility, cronyism, inefficiency, and stagnation. Thus, Ethereum Classic demonstrates these values by relinquishing control of the centralized base.
At this stage, the Ethereum Classic community's view is crystal clear: third-party interference is unacceptable. Decisions are made by the community in the interest of the community. This point has a lot in common with Ethereum, where third parties openly interfere or do not interfere with decisions.
Does Ethereum Classic have a future?
Despite the fact that ETC was somewhat in the shadow of its brother, its developers are still optimistic and believe that this currency has something to offer to the cryptocurrency community. If you look at the Ethereum Classic chart, you'll see that it is relatively stable compared to other popular cryptocurrencies. In addition, we would like to point out that ETC mining is more affordable, resources to confirm transactions are also required less compared to the same Bitcoin.
