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Ethereum Classic (ETC) Is A Slow But Sure Long-Term Winner
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Ethereum Classic (ETC) Is A Slow But Sure Long-Term Winner

Chart for ETC/USD (1W)

Ethereum Classic (ETC) is a slow but sure winner 5 to 10 years from now. Now, a lot of people are going to object to my use of the word, “slow”. Ethereum Classic (ETC) is slow and I’m going to explain how that is a good thing and not a bad thing. A lot of blockchain projects have rushed into the market with half baked products and processes. They are more interested in quantity than quality because that is what people like to see in a market where the majority does not understand the technology anyway. So, most blockchain projects focus on things that appeal to the general public. Before you know it, they have a ton of useless ICOs on their platforms.

All of that may seem impressive on the outside. However, deep down, they are still very confused regarding the issues that really matter. For instance, they have no idea regarding how to scale. They do not know what they stand for. Sure, blockchain is a hot subject for now but it is not going to be like that forever. A few years from now people are going to want to see what exactly they can do with that blockchain. When that time comes, most of these projects would not have any clue as to what they want to accomplish and how they are going to do that. This is not just about small platform cryptocurrencies. Ethereum (ETH), hailed as the mother of altcoins is currently at that point. They just postponed Plasma because they had absolutely no idea how to proceed towards what they had promised.

Chart for ETC/BTC (1W)

In the race to reach a higher market capitalization, most of these projects are continuously rushing into new and useless upgrades and processes but at the fundamental level they have absolutely no idea what they stand for. They are not sure what their future will be when people want to actually use blockchain for something instead of the blockchain being a big deal itself. Blockchain technology, just like the Internet is supposed to be a facilitator. It is going to help other projects and companies to create new businesses to revolutionize existing industries like construction, manufacturing, healthcare etc. While most of these projects were focusing on blockchain itself, Ethereum Classic (ETC) was thinking out of the box. The development team behind Ethereum Classic (ETC) under the leadership of Igor Artamonov decided that they are not going to get into the same rat race of attracting tons of ICOs.

Ethereum Classic (ETC) decided to go after a technology that is going to be at the heart of the fourth industrial revolution. That technology is the Internet of Things (IOT). The team behind Ethereum Classic (ETC) could have come up with some catchy graphics to give investors a false sense of hope that they were doing wonders working on the Internet of Things (IOT) side. However, Igor Artamonov clearly stated a few days back on Reddit that they are doing everything they can to work on IOT but they are not going to rush through it. Instead, they are going to adopt a steady approach ensuring that they cover every line and dot. To the Ethereum Classic community, code is law which is why they have to be very meticulous and careful at every stage because a mistake cannot be undone. This approach may certainly put them behind other projects for the time being, but long term people are going to want to use a blockchain that they can trust.

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Fakhan

I work as the key Trading Analyst for Crypto Daily and provide the team with regular analyses and updates regarding the technical performance of all cryptocurrencies on the market. I am responsible for the production of articles and posts for Crypto Daily’s own technical analysis section and spend my time monitoring and commenting on the varied moves the markets make on a daily basis.

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