People from outside can be hard to believe, but Ethereum Classic (ETC) is actually the original blockchain
of the Etherium. That chain, which leads a bitter struggle with Bitcoin and Bitcoin Cash for a place in the sun (the ETH speech), in fact, is his fork. Ethereum Classic is still among the most actively traded cryptocurrency, but is it too late to invest in it now?
How did Ethereum Classic come about?
In April of the year before last, the first and very successful ICO - DAO (Decentralized Autonomous Organization) was launched. For a month this project was able to collect about 168 million dollars. Some time later unknown hackers found a vulnerability and used it to steal almost a third of the released Ether tokens. At that time, these 3.6 million tokens had a value of about fifty million dollars.
A large part of the Ethereum community wanted to create a fork to return the stolen funds back to investors, while others insisted that the code should not be interfered in any way. In the end, there was a hard fork, resulting in two versions of Ethereum, based on the same blockbuster. All the owners of the air at the moment of fork automatically became the holders of Ethereum Classic. Something similar happened a year later with Bitcoin, when Bitcoin Cash appeared.
However, unlike the story with Bitcoin Cash, in the case of the Etherium, most of the market chose to get rid of ETC tokens in favor of the new ETH blockchain. This significantly reduced the Ethereum Classic course, while the course of the "forged" Etherium continued to grow.
Why invest in Ethereum Classic?
Although the current cost of ETC is significantly lower than that of ETH, the growth of its rate is still impressive. The owners of Ethereum Classic for the first six months of 2017 received almost 1500% of the profit, when the ETC rate increased from $ 1.48 in early 2017 to 22.83 in June. Further, the growth rate has slowed somewhat, but for now, ETC is already trading at $ 34 per token. Perhaps these figures do not hold up to the ETH indicators, but in any case they give an optimistic look at the future of this cryptocurrency. Moreover, ETC was also able to receive institutional support through the Ethereum Classic Investment Trust. This support gives the ETC extra security.
The most important reason for investments in Ethereum Classic is its current market value. ETH is currently "frozen" around $ 765 a token, while ETC at its rate below $ 35 still has huge potential for growth. This also means a much larger profit potential in case of growing attention to the ETC.
Starting to invest in Ethereum Classic is by no means too late. Now, probably, the most suitable moment when this cryptocurrency is on the verge of big changes.