16 June 2020
Meta Description: Discover the difference between Ethereum and Ethereum classic as we take a deep dive into their features. If you are interested in dematerialized currencies, it is essential that you understand what Ethereum is. Also, you need to have in-depth knowledge of the difference between Ethereum and Ethereum Classic to ensure successful trade.
Investing Outlook: Ethereum or Ethereum Classic?
In order for us to determine which of these cryptocurrencies is better, we will have to take a deep look at the features they offer.
Ethereum was presented to the general public on July 30, 2015. Its creator, Vitalik Buterin, was only 20 years old but he analyzed Bitcoin from every angle to launch his own cryptocurrency. However, crowdfunding is the method he used to finance this cryptocurrency. His project was so ambitious that he obtained more than 18 million dollars.
Indeed, Bitcoin was an inspiration for Vitalik Buterin but the Canadian Russo had in mind a much more complete project. He developed a cryptocurrency called ether with the possibility of integrating smart contracts into his blockchain. Due to this, the Ethereum project has become even more impressive than the Bitcoin project.
Ethereum Classic is a cryptocurrency created following a problem encountered with Ethereum. This problem began since a person who had found a flaw in a smart DAO contract had managed to obtain 3 billion ethers or an amount of $ 50 million. However, people who owned ethers have lost nothing thanks to the creation of a hard fork.
In response to this hack, the inventor of Ethereum, Vitalik Buterin, recommends modifying the Ethereum code to fill this flaw. We then speak of a hard fork since the project must be accepted by the majority. The majority are on the side of the founder, the objective, therefore, being to be able to continue to use Ethereum while knowing that the flaw is corrected.
However, some purists do not agree with this decision to modify the code when the very essence of Ethereum is to be immutable. They decide to continue with the basic unmodified version which is then called Ethereum Classic.
Ethereum vs Ethereum Classic: which is better
When Ethereum encountered the problem in June 2016, its price went from $ 18 to $ 12. However, Ethereum quickly regained the trust of its community and investors. There are indeed among Ethereum investors very large groups such as Toyota or Microsoft. Since then, the price of Ethereum has literally exploded, reaching peaks of $ 391 in June 2017, $ 383 in late August 2017, and $ 650 in late December 2017.
Alternatively, the price of the Ethereum Classic has never exceeded $ 45. As a result of this analysis, it is completely evident that Ethereum is a far more reasonable investment compared to the Ethereum Classic.
|Data as of 2020||Ethereum||Ethereum Classic|
|Market Capitalization||$23.7 billion||$769 million|
|Circulating Supply||>102 million||>116 million|
|Maximum Supply||No upper limit||>210 million|
|Mining/ Release Rate||3 per block||4 per block|
|Maximum Transaction Per Second||20||>20|
|Approximate Block time||15 seconds||13 seconds|
In conclusion, Ethereum is one of the most promising cryptocurrencies of the moment. To trade Ethereum means to invest in the rise or fall in its price. You can, therefore, make a profit regardless of its value fluctuations, if you bet on the right trend.
If you buy a cryptocurrency and its price drops you will definitely lose money. However, if you trade on the rise or fall of its price you can make profits even in case of decline. This is why we advise trading to the direct purchase of crypto or other assets.