A brief history of Ethereum origins

Ethereum (ETH) differs from Bitcoin only in the presence of smart contacts and some other solutions. The first developments appeared in late 2013, but the main Ethereum network wasn’t launched until July 2015.

In 2016, the Ethereum team launched The DAO, a crowdfunding platform that uses smart contracts.

How Ethereum Classic came to be

In June 2016, unknown hackers discovered a bug in The DAO code that allowed access to the organization’s assets. There were two ways to solve the problem: freeze the stolen assets or roll back the system, and then separate from Ethereum by launching a new blockchain that would be devoid of security problems.

The second option was chosen, and it was called Ethereum Classic. After the hardfork, Ethereum was to continue on ETC, and Ethereum itself was to be abolished. Some market participants disagreed with this decision and after rolling back the code to this day Ethereum, which is called the blockchains’ original, still exists. However, many on the network continue to call ETC – the classic and original Ethereum.

Is it worth investing in Ethereum

On September 15, the Ethereum network migrated to the PoS algorithm and instead of traditional mining, staking became available. However, the expected growth on the background of this momentous event didn’t take place.

Also, after switching to PoS, the network throughput didn’t increase, and transaction fees remained at the same level. Therefore, we wouldn’t recommend investing in Ethereum.

Is it worth investing in Ethereum Classic

Ethereum Classic cryptocurrency lags behind its big brother Ethereum in the rankings, but it is still interesting for market participants. Moreover, ETC has significantly increased in weight due to the influx of ETH miners after Ethereum switched to PoS.

Ethereum Classic, like Ethereum itself, is one of the oldest coins on the market and now all the stores, exchanges, exchangers, and other services work with it. By the way, Ethereum and Ethereum Classic repeat Bitcoin’s price movements and their behavior patterns are almost the same. And many argue that Ethereum Classic is a riskier asset than the original Ethereum.

Conclusion

Ethereum and Ethereum Classic have essentially the same roots, but their development is separate. Dozens of developers are working on improving each network. However, as of today, Ethereum Classic demonstrates the best result.

However, both coins echo the movements of Bitcoin and therefore their upward movement, in the first place, depends largely on the behavior of Bitcoin.

Global economy

Since the global economy is closely tied to the stability of the U.S. dollar, any exchange rate fluctuations can be calculated. For example, America is in a difficult situation today. The debt of $30 trillion is having a negative impact on the economy, and the failure to stop inflation is causing stock indexes to plummet. 

Investors are trying to retain at least part of their investments, and as a result, money is being withdrawn from the technology sector and poured into companies that produce food and other products in demand. And that is not all, because there are also charts and market trends, when people cling to the numbers, which is commonly called resistance, after which the value of assets rises or falls sharply.

Bitcoin Halving

When it comes to Bitcoin, there is a fundamental indicator on the basis of which one can judge sharp exchange rate fluctuations. We are talking about halving.

It should be noted that in 2020 there was a planned reduction in the number of coins per block. So, instead of 12.5 BTC, miners received only 6.25 BTC per block. Since the complexity of mining was constantly increasing, the sharp decrease in the profitability of mining should have led to an increase in the value of the cryptocurrency. 

That’s what happened in 2021, and today Bitcoin is trading more than twice as high as it did in 2020. Experts write that the rate can also be predicted on the basis of an increase in the hashrate. For example, the current value of the first cryptocurrency already includes halving and hashrate growth, and as a result, farmers may not make huge profits, but they can pay off the equipment and get into plus.

Ethereum Classic prospects

Many people know that before Ethereum switched to staking, Ethereum Classic was the main contender for the place of the main cryptocurrency for mining on video cards. And here is a good time to pay attention to the hashrate of this cryptocurrency.  

As you can see, the indicator increased 3-fold over the month, and several days in a row it reached a 6-fold increase. Keep in mind that in the summer the complexity was constantly increasing, so by the end of August the indicator was already 2 times higher than normal. At that time, miners were not yet alarmed, and the profitability didn’t go into minus. But today mining Ethereum Classic (as well as any cryptocurrency on video cards) is unprofitable because you won’t even pay back your power outlet.

There is a very interesting situation: miners continue to persist, while the price is frozen in place. According to experts, Ethereum Classic will soon move to rapid growth. At the moment, the difference between hashrate and profitability doesn’t correspond to the norm, and to go back to the indicators of August, the cryptocurrency must rise in price to 70 dollars. 

There is an opinion that so far, the miners won’t get anything, which means they will dig into minus for a long time. In theory, it will be possible to get a plus after overcoming the $50 mark, but this is if the hashrate of 150 TH/s is maintained, and it is also possible that the complexity of mining will rise or fall.

Conclusion

Since Ethereum Classic rate is firmly tied to Bitcoin, the experts suggest looking exactly in the direction of the first cryptocurrency. And this is where the uncertainty awaits. There are both negative and positive implications. Well, optimists say that with the onset of winter digital gold will begin to grow. 

Stock indexes are already at the bottom, and Bitcoin is trading above $19,000, which is the minimum, below which it cannot retreat. If the optimists are to be believed, we are in for a bullish pre-New Year’s rally. You remember how Bitcoin rose sharply last year, don’t you? 

It is worth remembering that the economies of developed countries are currently in decline. No one knows if ordinary people will want to invest in cryptocurrencies, or if they will prefer to invest their money in real values. 

This growth is related to several rumors. First, Ethereum (ETH) miners are gradually switching to ETC, as ETH will soon switch to Proof-of-Stake. And second, concerning the same topic, that applications and users will also switch to Ethereum Classic, at least those who only trust the Proof-of-Work algorithm.

Today’s article looks at price dynamics, evaluates the activity of miners, looks at applications, and most importantly, discusses whether they will actually use Ethereum Classic in the near future. Also, this article will help you make the right decision whether to invest in cryptocurrencies or whether it is better to mine them or trade digital money on exchanges.

Ethereum Classic dynamics

It is worth noting that Ethereum Classic has shown good results over the past year. Many altcoins have failed during this time. This is a good sign pointing to a new growth and therefore a new high, when Bitcoin returns to a long-term bull market. If we consider the ETC exchange rate today in terms of technical analysis, the picture is very favorable. 

We see the bulls finally returning to the market after this coin dominated almost all the time since last summer. We see a strong rise, then a correction, and still plenty of potential for continued growth. 

The driver of ETC growth is rumor that miners are switching to this cryptocurrency as Vitalik Buterin’s Ethereum mining will soon be over for them. The current cryptocurrency market is cash-based, as investors buy coins that we see funds investing in, and the blockchain ratio is skyrocketing. 

The Ethereum Classic team made a bold decision. They updated their code to be as compatible as possible with Ethereum and refused to switch to Proof-of-Stake. This means that all users and developers who do not trust or do not want to use Proof-of-Stake can still work with the Proof-of-Work algorithm, though on the Ethereum Classic network.

This is a very bold decision, the only question is, how many such applications will there be?  If you look at the Ethereum Classic ecosystem, you will find many wallets and a large list of supported exchanges. There are also proprietary apps, not many in comparison, but they are existing. However, if you visit the coinmarketcap analytics site, ETC is ranked 29th among all cryptocurrencies with a capitalization of $2 billion.

Solana, BNB Chain, Terra, and other currently popular networks use Proof of Stake. They have a lot of centralization issues, but users don’t care, they want fast and cheap transactions. So Ethereum also wants to move to Proof-of-Stake to give users what they want.

Conclusion

Many users love Ethereum Classic for its commitment to blockchain ideals, but the plan may fail because right now we don’t see a line of developers willing to work on their blockchain, nor any line of users. 

If such a demand arises as the release of Ethereum 2.0 approaches, ETC has a good chance. If it doesn’t come to that, we may see a bull market rise, but the coin will not bounce back to the highs. This of course is just our personal opinion, don’t take it as investment advice and always do your own research.

Contents of the article

• The history of Ethereum
• Is it worth investing in Ethereum in 2022?
• Is it worth investing in Ethereum Classic in 2022
• Conclusions

The history of Ethereum

Ethereum (ETH) is a popular crypto project. It differs from bitcoin by its smart contracts and a number of other solutions. One of the developers is Vitalik Buterin, a programmer with Russian roots. In early 2013, he first introduced the concept of Ethereum. Further stages of the project’s development are as follows:

• At the end of 2013, Vitalik Buterin created the technical basis for Ethereum. In parallel, he gathered a team of developers to improve the project.
• On July 22, 2014, the Ethereum team launched a pre-sale of the project’s cryptocurrency.
• On July 30, 2015, the developers launched the Ethereum network.

In 2016, the developers launched The DAO, a digital decentralized autonomous organization. It was a crowdfunding platform based on smart contracts. The decision to launch The DAO was largely decisive for the further history of the project’s development, as it was thanks to it that Ethereum Classic emerged.

How Ethereum Classic was created

In June 2016, attackers discovered a bug in The DAO’s software code, which gave them access to the project’s funds. There were two ways to solve the problem:

• Conduct a soft fork – freeze the stolen funds and roll back the system to the point before the hack.
• To hold a hard fork – to separate a new branch from the Ethereum blockchain without security gaps and continue to develop the project already on it.

The developers chose the second option. At this point, an ideological problem arose. The fact is that one of the rules of decentralization, which the Ethereum team adhered to, says that “the code is the law”. Accordingly, it cannot be changed.

At the same time, the implemented hardfork, from a technical point of view, can be considered as a replacement of the vulnerable code. It turns out that such a decision is against the rules of the community.

After the hard fork, the project was supposed to continue working on the second, bug-free version. The first version was planned to be abolished. Some participants of the cryptocommunity didn’t agree with such a decision and supported the first version of Ethereum. Thus, the project was divided into two full-fledged parts.

To avoid confusion, the first version of the platform began to be called Ethereum Classic (ETC).

The updated version was renamed Ethereum.

Is it worth investing in Ethereum in 2022

As of early May 2022, Ethereum developers continue to work on converting the cryptocurrency from the extremely energy-consuming PoW mining algorithm to its more environmentally friendly counterpart, PoS.

In the cryptocurrency community, the updated version of the project, which its team aims for, is called ETH 2.0. Many investors believe that the improvement of the technical component of the cryptocurrency will cause the growth of its rate. Analysts at Goldman Sachs believe that the changes will increase the value of Ethereum, making the coin a means of saving assets.

At the same time, some members of the cryptocommunity believe that ETH may have a deeper fall before the next exit to the growth.

Ethereum exchange rate. Source: Coinmarketcap.com

Is it worth investing in Ethereum Classic in 2022

Despite the fact that Ethereum Classic lags far behind its “updated” version in the capitalization rating, the project is still interesting to the cryptocurrency community. The developers continue to work on improving the technical component of the project.

Ethereum Classic exchange rate. Source: Coinmarketcap.com

One of the latest growth spurts of Ethereum Classic is associated with the publication of news in the project’s microblog about the developers’ preparations for the next hard fork in its network – Magneto. It turns out that ETC can be still considered as an asset for earning on trading.

In addition, Ethereum Classic, like Ethereum, is one of the oldest cryptocurrencies. It is ranked 29rd in the world in terms of capitalization, which is a good enough position. Many stores around the world accept it. 

The fact that many people underestimated ETC at the time allowed owners of this coin to earn good money from its growth in 2017-2018 and 2021 (though, in the first half of 2021, the crypto market as a whole grew a lot).

Overall, Ethereum Classic cannot be considered a stable asset. It is characterized by sharp rate hikes, which end up falling and fluctuating around the same mark for a couple of years. Now the rate of ETC is decreasing, which is a good opportunity to buy the coin. In May 2022 its value is small – about $22, but it may well grow several times in the foreseeable future.

There are certain prerequisites for this. First of all, stable support from the crypto community and users can positively influence the movement of the ETC exchange rate. Also, given the announced transition of Ethereum to the PoS algorithm, many owners of mining equipment will switch to mining Ethereum Classic, which will add popularity to this coin.

Conclusions

It turns out that Ethereum and Ethereum Classic have common roots, but are developing separately today.

Development teams are working on improving each of the cryptocurrencies. At the same time, if we go deeper into charts and figures, Ethereum Classic has the best growth result in 2021.

However, both cryptocurrencies repeat the movements of bitcoin. Accordingly, their growth output depends largely on the behavior of BTC and general investor sentiment. 2022 is not off to a good start.

• What is Ethereum Classic (ETC)?
• Analysis of Ethereum Classic
• How Ethereum Classic came to be
• The DAO. The theft that started ETH
• The first steps of Ethereum Classic. Currency entering exchanges
• Ethereum Classic project. The main principle of ETC
• Where to buy Ethereum Classic cryptocurrency
• Wallet for storing ETC
• ETC outlook for 2022. Is Ethereum Classic worth buying?

What is Ethereum Classic (ETC)?

Cryptocurrency forks are one of the riskiest investments. Throughout the history of the digital market, there have often been situations where another fork of a well-known digital currency was released, and after reaching the next level of the coin’s exchange rate, the project was successfully abandoned.

However, this does not happen with all forks and there are some very decent and promising options on the market for investing their funds, which can bring investors a huge profit in the long term.

One such asset is the Ethereum Classic (ETC) coin. This cryptocurrency can be very interesting for its high yield, even despite the fact that it is a fork. Once in 2016, just after the release of ETC, this currency started trading at just 70 cents apiece, and after two years of successful existence on the digital market, ETC in January 2018 was already worth about $46. At its peak, crypto reached $134 in 2021. The price is now at $26.

Accordingly, those investors who invested their money in this asset in time were able to increase their capital by almost 66 times.

However, even despite such a successful development of the project, there are a lot of contradictory rumors about ETC on the Internet. And many users just don’t understand – is it possible to trust Ethereum Classic? Is it worth buying ETC at this moment? Does this project have any prospects or is it a scam that was created just to steal money?

Today’s article will try to answer these questions and talk about this cryptocurrency, about the main idea of the project, about the history of this Blockchain company and about its growth perspectives. After reading this article, you will surely be able to form your own opinion about this project and evaluate it on all its merits.

Analysis of Ethereum Classic

In CoinMarketCap list of the best cryptocurrencies, Ethereum Classic occupies the 34 place at the middle of March 2022. The capitalization of this Blockchain project is more than $3.5 billion, the price per coin is about $26. The issue is limited to 210,700,000 ETCs and it is possible to mine ETCs.

How Ethereum Classic came to be

As mentioned earlier, Ethereum Classic is a fork of the Ethereum cryptocurrency.  So, before we describe the appearance of ETC, we should talk a bit about Ethereum currency itself and the creation of the famous blockchain project The DEX, which is connected with ETC creation.

Ethereum cryptocurrency is a decentralized application platform based on smart contracts technology. This system allows automatic transactions between people without interference from anyone outside.

This technology certainly appealed to many programmers, who wanted to create their own cryptocurrency on the Ethereum platform. As a result, the Ethereum Foundation began to grow very quickly in the digital currency market. And in a short time, it was able to find many supporters in the form of big investors and strong support in the cryptocurrency community.

Even very large companies of that time began to test the system for professional suitability and try to create their own Blockchain projects on it, one of which is The DAO.

The DAO. The theft that started ETH

To begin with, it is worth explaining what The DAO is all about. This company is a kind of large investment fund, which was based on the then developing Ethereum system. The DAO had its own tokenized system and a fully decentralized economy.

This Blockchain project seemed very interesting to many investors. Users invested their money in it, hoping for the development of the company and further perspective. As a result, The DAO was able to raise a very large investment at the time, more than $100 million.

However, shortly after The DAO Blockchain Project came to market, there was a very unpleasant incident caused by a hacker attack on the company during which investors’ funds were stolen. At the time, millions of dollars in Ethereum cryptocurrency were stolen from The DAO. The main reason the company was hacked was a vulnerability in the code of the smart contract on which the project was created.

As a result of this incident, the price of DEX digital shares, as well as the Ethereum currency itself, fell almost twice almost immediately. In general, the companies were on the verge of their existence and were slowly losing their credibility, so extreme measures were needed.

The first thing Ethereum Foundation developers did was track down that hacker and freeze his account with the stolen cryptocurrency. However, they couldn’t just return the funds to DAO, for that they had to change the system code of ETH. That’s why the development team decided to make a hard fork to roll back the moment when the theft occurred and return investors’ funds.

However, not all members of the Ethereum team agreed with this decision, as it implied centralized interference in the Blockchain system code and substituted the main idea of Ethereum about “full decentralization of the system and non-interference of people in the smart contracts process”.

On the other hand, by rejecting this opportunity to create a fork of the cryptocurrency and compensate people for the loss of $50 million that was stolen from the DEX project, the developers would preserve full decentralization of the system, but they would have to pay for the damage themselves. After all, they were to blame for introducing users to their “raw” product, which had critical vulnerabilities.

In short, the situation was ambiguous. Part of the community was in favor of creating the fork of ETH and changing the system code of Blockchain, while others were against it. As the result, most of the community still decided to compensate the users for that considerable damage by changing the Ethereum code and forget about their principle of complete decentralization.

After that decision, the network split in two and a new digital asset called Ethereum Classic appeared.

The first steps of Ethereum Classic. Currency entering exchanges

ETC was born in July 2016. Immediately after entering the digital market, this asset managed to surprise everyone by being listed on such a well-known exchange as Poloniex, which, as you know, simply does not add little-known and unreliable projects to its list of cryptocurrencies.

And this, in turn, shows that Ethereum Classic is not just a fork of Ethereum, but a full-fledged asset with its own perspective.

A few days after trading, ETC was able to grow in price and capitalization by more than 250%, overtaking Ethereum. At that time, the capitalization of the Ethereum Classic project was able to reach over $250 million.

However, despite such growth that seemed very natural, later it turned out that Ethereum Classic’s development was caused not by investors’ trust to this project or by the support of a powerful developer community, but by a planned speculation of ETC coin by a great number of traders on Poloniex exchange. That’s why the capitalization and rate of ETC were very unstable and very volatile, due to traders’ short positions, on which they were able to make a lot of money at that time.

But in the end, such manipulations did not undermine Ethereum Classic’s credibility and did not stop its development.

Soon after adding ETC to Poloniex, many other exchanges also began to adopt this digital asset and add it to their sales list. The most famous of them are Bittrex and Kraken. And of course, each time listing ETC on a new trading platform significantly boosted its price, capitalization and the overall development of the project.

In addition, the development of Ethereum Classic was influenced by the fact that this system retained the possibility of mining. And since the complexity of mining the asset was easier than the Ethereum currency, many miners around the world and some mining pools preferred to mine this coin rather than its competitor.

Ethereum Classic Project. The main principle of ETC

ETC can be presented as a secure platform for creating decentralized applications (dApp).

This coin is almost a full copy of Ethereum cryptocurrency, but at the same time ETC has fully preserved its original system code and has not been somehow changed by the developers, as this is the main principle of this company – to be an independent platform, which itself performs transactions based on smart contracts.

The development of this cryptocurrency is primarily engaged in two teams: ETCdevteam and Grothendieck, which are fully dedicated to the development of the project.

The main principle of this project, which the developers put above all, is the belief in the principle of decentralization, which under no circumstances will not be changed. The founders of the company believe that their Blockchain system should function by itself on the basis of smart contracts, without any interference from the outside.

And if the Blockchain code is ever changed for any reason, it will no longer be the original Ethereum, but only its failed parody.

Where to buy Ethereum Classic cryptocurrency

Digital currency ETC is quite a popular asset, so you can buy it at many of the best cryptocurrency exchanges without any problems.

The largest volume of trades on the digital market happens on the Binance trading platform. The daily sales volume of this coin on this exchange is about $322 million. In general, the demand and supply of ETCs there is quite enough, all orders are processed quickly and without any delays.

The most popular trading platforms, trading ETCs:

• Binance
• Huobi
• Bitfinex
• HitBTC
• Poloniex
• Kraken
• Bittrex
• KuCoin

Wallet for storing ETC

At the moment, there are a lot of wallets for storing Ethereum Classic cryptocurrency. Of course, you can store this currency on the trading platform where you purchased it, but it is not the most secure way, because not only you have access to your wallet, but also exchange’s developers. That’s why you should prefer more reliable options for storing your coins – cryptocurrency wallets.

One of the good options for online storing of ETCs is presented on our website. This wallet is free and very easy to use. With it you can get started with ETCs in just a few seconds.

There are several other options of free online wallets, which have a user-friendly interface and strong protection – these are Mist and Jaxx.

If you want maximum protection for your cryptocurrency, then order the Ledger Nano S cold storage hardware wallet, which also supports the ETC digital asset. This type of wallet is the most reliable and secure place to store your cryptocurrencies, because Ledger wallets have not yet been hacked by anyone. However, for such pleasure you have to pay about 70-150 euros.

For this fee you will get by mail a special device to connect to your PC, through which a safe connection will occur to your personal account with cryptocurrency.

ETC outlook for 2022. Is Ethereum Classic worth buying?

To summarize this article, we can draw some conclusions about the ETC cryptocurrency, which is a fork of the well-known Ethereum currency. This asset is an established platform for creating decentralized applications, which has its own clear ideology and a strong belief in a decentralized system based on smart contacts.

The ETC project has found many followers from the beginning, who happily invested their money in it, allowing the company to grow and compete with other digital assets. This, in turn, shows that users trust Ethereum Classic, and this is the best marker in the world of cryptocurrencies for the project’s future prospects and successful development.

Moreover, as history shows, this currency immediately after coming on the market, began to add to its sales list the most popular and reliable crypto exchanges like Poloniex, Kraken, Binance, which just once again proves that ETC is not just a fork, but a solid digital currency with its own advantages and a transparent and successful future.

All in all, ETC cryptocurrency, which kept Ethereum community’s original belief in decentralization, proved itself very well in the digital market, and many investors have already invested a lot of money into this coin. 

The future prospects of Ethereum Classic in 2022 is to take its place in the top 10 of the best cryptocurrencies and increase its value by several times.

And while this asset is still quite cheap, you can buy it for little money, adding it to your investment portfolio and leaving it for further storage in your wallet. Such an investment will not be a 100% guarantee of profit in the future, but you can save your savings for sure.

• A bit of history
• Is there a future for ETC mining?
• Benefits of Ethereum Classic
• Disadvantages
• ETC outlook for 2022
• Is Ethereum Classic worth buying now? 
• Recommendations for buying cryptocurrency

The Ethereum digital project is an advanced platform for creating decentralized applications based on blockchain technology. In addition, the creation of the digital cryptocurrency Ethereum Classic took place within the framework of this technology. Ethereum Classic is a kind of platform for creating applications. Due to the fact that the value of Ethereum Classic, as opposed to the usual Ethereum, is significantly lower, it allows many users to invest in this asset in the expectation of receiving a future profit through the growth of the quotations of the digital coin.

 The community of miners is providing all kinds of support to the Ethereum Classic cryptocurrency to maintain its decentralization and stabilize its exchange rate, which should lead to an increase in the popularity and value of this crypto-asset. Based on this, it is worth carefully studying the features of this coin, as well as finding out how to mine ETC on Nvidia and whether it is possible to mine this token using the Ethereum Classic cryptocurrency mining pool.

A bit of history

At the end of 2017, the cryptocurrency Ethereum Classic acquired the status of one of the most actively discussed coins in the crypto market. At the same time, among most participants of the cryptocurrency market there was a mixed opinion about this project as it emerged as a result of the hardfork.

Cryptocoin Ethereum Classic appeared on July 20, 2016 after the split of the second most popular and capitalized cryptocurrency, Etherium. This split occurred as a result of a hacker attack on a large cryptocurrency fund, TheDAO.

As a result, it led to the fact that coin holders had to make a choice about their next steps. One of the ways to address the situation was the organization of a softfork. However, opinions were divided among market participants, which eventually led to the emergence of a new ETC coin.

Is there a future for ETC mining?

After the final separation of the blockchain network Ethereum and Ethereum Classic there was a split in the cryptocurrency community. The Ethereum Classic project is actually the original Ethereum coin. This coin managed to preserve the principle of adherence to the supremacy of the crypto code, as well as ensure the impossibility of external interference in the work of the crypto network.  

As a result, such steps by ETC’s authors led to a moral division between miners and investors.

Some of the users who support centralization of processes inside the crypto-platform decided to stay loyal to Ethereum coin;

The users who remained fans of decentralization of the cryptocurrency and the impossibility of interference in its work by third parties, decided to defect to the side of Ethereum Classic.  

The authors of the cryptocurrency project Ethereum Classic initially positioned themselves as ideologically charged crypto-enthusiasts who want to keep the ETC project as a self-sufficient digital crypto-asset.

At the same time, one of the main objectives of the developers of this crypto is to ensure that the site can develop independently without external interference. According to the creators of the coin, by ensuring the autonomous functioning of the crypto their brainchild will be able to acquire unprecedented stability and resilience to the external influence of negative economic factors.

In other technical and conceptual aspects, the Ethereum Classic project is completely similar to Etherium. It is important to note that due to the identity of the original source code, many users were able to sell their digital assets twice as ETH and as ETC after the separation of the coins.

Ethereum Classic mining also has some minor differences from Ethereum mining. Due to the constant growth of the complexity of Ethereum mining, miners began to gradually switch to mining Ethereum Classic, due to the similar algorithms and operating principles of the two coins. Those who do not know where to mine ETC can use the services of mining pools, which will not only speed up the process of mining crypto, but also increase the efficiency of mining.

Benefits of Ethereum Classic

Due to the presence of a number of weighty advantages, the creators of Etherium Classic have ensured a good growth rate of the coin’s user audience. In addition, this factor helps to attract the attention of large crypto-investors who invest heavily in the development of the cryptocurrency.

The main fundamental advantages of Ethereum Classic include the following properties of the coin:

• The cryptocurrency has managed to maintain the basic principle of ensuring full decentralization and the impossibility of external factors interfering with the operation of the coin;
• ensuring full security of the crypto network participants and financial transactions conducted within the site using ETC token. This is evidenced by the fact that the system regularly becomes the target of prolonged and massive hacker attacks, while the project has never been hacked and user funds have remained completely safe;

Disadvantages

Despite having a number of advantages and technical soundness, still the ETC coin is not without certain disadvantages.

The negative sides of the Ethereum Classic cryptocurrency project include:

• A certain instability of the crypto network, which often leads to a slowdown in the speed of conducting and confirming transactions;
• ETC is based on a blockchain that was successfully attacked by a group of hackers in 2016;
• the coin does not yet boast of great popularity among market participants, which limits the ability of its authors, in terms of financial injections into the advertising campaign to expand the user audience;
• The programming team in comparison with other major cryptoprojects does not have a large number of experienced professionals who have managed to create successful cryptocurrencies.

It is necessary to understand that in many respects the future prospects of ETC cryptocurrency will depend on the speed and success of elimination of existing shortcomings. Therefore, cryptocurrency creators should make every possible effort to minimize the negative impact of the listed factors on the performance and growth of the popularity of Ethereum Classic in today’s crypto market.

ETC outlook for 2022

Given the lingering crisis in the crypto market and the lack of clear signs of change in the current situation, the prospects for the cryptocurrency Ethereum Classic in 2021 can hardly be called bright. At the same time, the cryptocurrency’s future prospects and success will largely depend on the popularization of its mining as this project cannot boast of any unique functionality and technical innovations.

At the same time, it is worth noting that Ethereum’s upcoming transition to the Proof of Stake algorithm could affect ETC both positively and negatively. But so far there is no exact information about the date of ETH’s final transition from PoW to PoS. Admittedly, this change may result in an outflow of miners from the Ethereum crypto network. As a result, due to the similarity of software algorithms, crypto miners may well switch to mining Ethereum Classic, which will positively affect the growth of popularity of this crypto asset and the growth of its value.

Also, we should not forget about the announced legislative changes in countries with the largest economies. New laws designed to regulate the crypto market and limit the ability to circulate and use digital money may negatively affect the entire crypto market, leading to the fall of not only Bitcoin and Etherium, but also smaller projects, including ETC. 

Is Ethereum Classic worth buying now? 

The difficult situation in the cryptocurrency market, as well as the unclear future prospects of crypto due to the upcoming legislative changes, make it difficult for analysts to make a forecast for 2022 for ETC.

In 2021 this cryptocurrency saw its highest value, driven by the general rise of the crypto market and the Bitcoin’s hype. This indicates that ETC has the potential for serious price growth.

As for investing in this crypto-asset, it is up to the investor to decide whether or not to invest in this coin, because the high volatility of crypto and the unclear situation in the digital money market makes it difficult to predict the direction of cryptocurrency assets. In addition, it is worth remembering that any investments, and especially investments in crypto, involve certain financial risks and no one can guarantee an investor a profit.

Ethereum classic, which some analysts call a hybrid of bitcoin and ethereum, may reach $60 per coin by the end of the year.

Recommendations for buying cryptocurrency

There are several ways on the market right now that allow you to get your own ownership of Ethereum Classic coins. Each of the existing methods has both advantages and disadvantages, so it is up to the user to decide which way of getting ETCs will be preferable for him. It is possible to get ETCs through the following services:

• Through cryptocurrency exchanges. In this case, using the services of monitoring cryptocurrency exchanges you can find the best exchange rates for the most profitable conversion of crypto. 
• Buying Ethereum Classic is also possible through online exchangers. The main advantage of such resources is the absence of the need to pass registration, as well as the possibility of receiving crypto to different digital wallets that support work with this digital crypto asset.

The modern Ethereum blockchain platform has been operating on this market for only a few years, but during this time it has already managed to undergo a number of changes and separate into a couple of independently functioning areas. The working principle of classical and basic solution is based on one technology, the reason for separation was a hacker attack and subsequent hard-fork. Working with Ethereum Classic, the forecast for 2021 assumes a planned growth of the rate and attracting new potential customers.

Content

1. Ethereum Classic: prospects for 2021
2. What will happen to Ethereum Classic in 2021
3. Will the exchange rate rise?
4. How much will it be worth by the end of 2021

Ethereum Classic: prospects for 2021

Ethereum Classic is predominantly compared to its namesake, which is the wrong approach when choosing a cryptocurrency for everyday use. A potential customer should pay attention to the growth dynamics of ETC over the past amount of time. The financial picture is achieved through investments from large third-party companies and the work of individuals and businesses. Since the rate is not held on one position for a long time and can change dramatically – this unleashes the hands of traders, who make a profit by trading cryptocurrency on exchanges and “playing” with the rates.

Every owner of this type of cryptocurrency can immediately exchange it for real currency using specialized exchanges. Beforehand, study the list of available offers, which will allow you to identify the best rate plan. High competition among private exchangers promotes a variety of promotions, which affect the reduction of the final rate. Studying the preliminary forecast of ETC 2021 will allow investing finances profitably or exchanging “Classic Ether” for real money.

What will happen to the Ethereum Classic in 2021

The Classic Ether has a number of advantages over its detached counterpart. These points can serve as a good reason for investors to invest financially:

1. Operational stability due to the lack of dramatic changes since the design and release of the project. The conflict with the hacker attack was resolved without interference in the internal code of Ethereum. Developers are actively testing for holes and third-party flaws that could contribute to unauthorized ether siphoning;
2. an increased level of protection and support of the largest trading exchange of electronic currency, which occupies a leading position in the field of cryptocurrency;
3. planned issuance, which will make ether accumulation more attractive and open new opportunities for the rapid growth of the market exchange rate;
4. a good level of liquidity, indicating the demand for the payment solution by users around the world.

The above-mentioned factors open new perspectives for further development of the direction and large investments. A parallel analysis of the value change over the past year also shows a stable increase in the exchange rate.

Will the rate go up?

Working with cryptocurrency ETC, the forecast for 2021 is favorable. Modern technical and software tools allow the exchange of modern electronic currency between themselves and to real money, and both Etherium are in high demand and can become a direct competitor to bitcoin.

When considering whether the rate will rise, one should pay attention to the following factors:

• The classic version of Ether has received support from both major exchanges and miners around the world;
• Banking organizations, telecommunications organizations, software manufacturers and other large companies are actively showing interest in the cryptocurrency, financing funds in this direction. The more investment is attracted, the higher the final exchange rate;
• Although the program structure of the project has not changed, the planned issuance has a positive effect on liquidity and the possibility of accumulation of cryptocurrency because of its allowable limit and the difficulty of mining;
• made fork contributed to a sharp decline in the rate, followed by a recovery to the previous level with further growth;
• The unstable state makes Ethereum Classic in demand for traders who positively influence the final rate.

It is impossible to know what awaits this cryptocurrency after the new year. The lack of a central governing body and financial security guarantees can contribute to the instant collapse of the established value. A positive growth trend allows us to independently form further growth forecasts and approximately set a possible rate. The financial investment can not only justify itself, but also pay back several times: since the release of this type of cryptocurrency, its rate has grown several hundred times.

How much will be worth by the end of 2021

As we have already found out, the cryptocurrency rate forecast can only be assumed and only indirectly depends on external factors. Preliminary planning of the upper end of the growth forecast should be done taking into account the following factors:

• Individual and corporate activity and the number of day-to-day transactions they make;
• The conclusion of partnership agreements with large organizations and the release of additional software that operates on Ethereum blockchain technology;
• Customers’ reactions to forks and issuances, which can affect the number of Ethereum accumulated;
• Analysis of the chart of the current rate and its changes over the past year. Studying the provided information, it is possible to catch a tendency of occurrence of sharp changes, which will be favorable for traders.

It is difficult to analyze in advance how much it will cost. Financial experts guarantee a smooth growth of the cryptocurrency rate. Considering what will happen with the system, it is worth noting the favorable conditions for its functioning:

• Many third-party e-wallets for storing ETC have been developed, guaranteeing full confidentiality of data and security of transmitted information. Personal data is not stored on the server, which makes it impossible to restore access to a personal account;
• Third-party developers develop appropriate decentralized applications that expand the basic functionality of Ether and simplify its daily operation;
• The ability to exchange it for real money shows the credibility and acceptance of this type of cryptocurrency.