The Basics Of Ethereum Classic: What Does ETC Offer?

The status that Ethereum has enjoyed over the past few years made a lot of traders consider investing in ETH.
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However, the cryptonews now show that Ethereum Classic is another coin to watch out for – and the basics of this cryptocurrency promise many things.

Even though it is lesser known when compared to ETH, Ethereum Classic is certainly a worthwhile investment opportunity for people who are able to appreciate its mechanics and advantages. Below, we are listing the basics of ETC and showing why more people are choosing to buy Ethereum Classic and appreciate its big picture.

Similar to Ethereum in the fact that it is an open source peer-to-peer (P2P) platform which runs a blockchain software, ETC came as a result of flaws encountered with a decentralized venture capital fund known as DAO. These flaws were exposed and as a result of them, DAO was hacked in 2016. Right now, it is estimated that $50 million dollars were stolen during this attack, leading to a schism in the Ethereum community.

However, the basics and benefits of Ethereum Classic start with the ability to posses both ETH and ETC tokens at the same time. This adds up to the liquidity as the ETC tokens represent a long-term asset while the normal Ethereum can be used to incur short-term profits. Of course, it is very possible to utilize other forms of cryptocurrency such as Bitcoin in order to stave off the volatility of another. So in a way, this is one of the best approaches when creating a more diversified portfolio of cryptocurrencies.

The big question to ask now is – will the basics of Ethereum Classic help it enjoy the popularity of Ethereum (ETH)?

So far, the Ethereum Classic news did not show a rampant increase in price. However, it is always wise to perform a fair amount of research if you want to make the best decisions when the time is right. Investing in ETC can certainly bring you profits – it is just a matter of time when will that happen.

Currently, the price of Ethereum Classic (ETC) is at $8.22 with a 0.44% increase on the day, putting ETC on the 18th position on the total market cap.