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Breaking News / Ethereum

Ethereum Classic (ETC) Might Surpass Ethereum (ETH) by 2020

Ethereum Classic (ETC) also known as the “real Ethereum” just recently released its Emerald Wallet which gave a big confidence boost to ETC investors as well as developers who want to build Dapps on the platform. This comes at a time when Ethereum (ETH) is in constant scuffle with the law and most developers are repeatedly infighting over critical issues. Ethereum (ETH) forked from the original chain, now Ethereum Classic (ETC) over a DAO hack. Vitalik Buterin and those who agreed with him believed that the lost funds during the DAO hack should be returned by tampering with the code whereas those opposed to this idea decided to stick with the old chain. 

Fund from those DAO hack were rendered obsolete by tampering with the code, just like printing more money but it did not stop there. While there were those who believed that not even a single instance of tampering should be allowed, there were those who thought that maybe this once these funds should be returned and proper systems should be put in place to avoid this from happening again. However, to their own surprise, the tampering did not stop there until eventually some developers dragged this debate to the media alleging that there is too much centralization and involvement, which is against the core principles Ethereum was founded on. A prominent Ethereum developer, Jimmy Song recently pointed out that there is a lack of skilled developers to program smart contracts with the required level of integrity. 

On the other hand, Ethereum Classic (ETC) follows a deflationary economic model and has a limited number of coins as opposed to Ethereum (ETH)’s unspecified number of coins. Ethereum Classic (ETC) has one of the most favorable charts from an investment standpoint in the market right now. The ETC/USD chart looks extremely bullish with an expected bull run around June-July 2018 that could drive the price all the way up to $200. More interestingly, the price looks even more bullish against Bitcoin and has significant room for a big rally around the same timeframe of June-July 2018. The consistency and coherence in the price of Ethereum Classic (ETC) is a true reflection of the work done on the project. While cryptocurrencies like Ethereum (ETH) are extremely overvalued at present, Ethereum Classic (ETC) can be rightly called as one of the most undervalued blockchain projects in the market right now. 

Ethereum Classic (ETC) is currently 33 times smaller than Ethereum (ETH). It should be noted that despite being in the top 20 league, Ethereum Classic (ETC) has yet to see mass adoption. The coin just recently got its wallet and announced its monetary policy last month. Currently, Grayscale, an investment fund run by Barry Silbert holds a big stake in Ethereum Classic (ETC). The ETC dev team with help from IOHK under the leadership of Charles Hoskinson have until now been mainly focused on coming up with a working problem. They have already come up with solutions to most blockchain related problems ahead of time unlike Ethereum (ETH). Their marketing team is certainly not the best right now but as the cryptocurrency gains more traction and gets listed on big exchanges, there is a high likelihood that its price will surpass that of Ethereum (ETH) by 2020. 


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