Ethereum Classic Is A Good Chain, According To Vitalik Buterin

The Ethereum Classic chain will undergo a fundamental change soon, and cryptocurrency miners are already seeking for alternative ways to make money since they will no longer be able to mine one of the largest blockchains in the sector.

One of the choices may be Ethereum Classic. The inventor of the ETH blockchain, Vitalik Buterin, suggested in his most recent address that users who “enjoy POW” might think about switching to Ethereum Classic, which is “absolutely a wonderful chain.”

A hard fork of the ETH chain called Ethereum Classic was introduced back in July 2016. As a smart contract network that facilitates decentralized apps and solutions with the native ETC coin, it largely imitates the key features of Ethereum.

ETC has established itself as a distinct version of Ethereum since its introduction, separating itself from the forerunner with each release. The network is designed to protect the integrity of the Ethereum blockchain that existed before the infamous theft of 3.6 million coins.

The market disruption of Ethereum Classic

As one of the largest networks on the market would no longer be accessible to miners, Ethereum Classic emerged as the clear choice for Ethereum miners looking for alternative career paths in the cryptocurrency sector.

A short-lived but rapid surge that resulted in a 105% price boost for the token was sparked by investors seeking more exposure to ETC as more hashrate entered the coin. Sadly, the rally’s speculative nature led to a swift 12% reversal.

Investors nevertheless anticipate that Ethereum Classic will increase in value after The Merge launches and a massive movement of mining power starts, despite the recent cooling off.

DISCLAIMER: The Information on this website is provided as general market commentary and does not constitute investment advice. We encourage you to do your own research before investing.

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