About Ethereum Classic
Ethereum Classic is an advanced cryptocurrency, launched in 2015 with the purpose to separate the users who prefer the hard-fork from those who didn’t want to update their version. The platform is also based on the blockchain network and gives to miners the opportunity to choose between the same network, but with different ways of processing. The main principles that guide the platform are: decentralized, immutable and unstoppable.
The Ethereum Classic platform can sustain an amount of 21 million coins.
Ethereum Classic Wallet
To keep your money in safe and to be allowed to make transactions, you need to create a specific wallet. This is a software a user installs on their computer or phone device. The Ethereum co-founder Anthony Di Iorio, has designed a special wallet that will keep the main cryptocurrencies safe. It is called Jaxx. The wallet was launched in 2014 and it allows users to buy, sell or exchange Bitcoins, Ethereum, Ripple and other cryptocurrencies.
The Jaxx wallet can be installed on eight platforms. It became the most popular wallet worldwide due to its strong security and privacy.
The designers think there is no immutable blockchain. Follow this principle they created Ethereum Classic. A safe platform where the transaction payments are secure, and the personal information are never deleted by the server. The Ethereum Classic has rigorous rules code. There aren’t deviations from government agreements. The platform is guided by the principle “transactions are final, applications are unstoppable”.
The Advantages of Ethereum Classic
– The Ethereum Classic uses the same technological machine as the original Ethereum platform, called Ethereum Virtual Machine or EVM. This software allows the algorithm to be decentralized. That means you don’t need an intermediate to help you with payments;
– You can buy, sell or exchange Ethereum Classic on the online marketplace whenever you prefer;
– It has a high security, due to the advanced mechanism developed by designers;
– Etherum Classic is decentralized, immutable and unstoppable.
The Disadvantages of Ethereum Classic
– There is no specific team compatible with Ethereum Classic. The platform is designed on an already forked version of Ethereum. The engineers are working on growing the original version, so this means the Ethereum Classic remains behind the competitors;
– There are still disputes in online media about Ethereum being a scam platform. Some of the Ethereum miners think it was launched actually by professional supporters;
– There are not so many differences between Ethereum Classic and Ethereum;
– The beginner users find it hard to choose between the same basic technologies that provide approximatively the same facilities. The double dissolving created a huge confusion;
– The risk of attacks on both blockchains is higher than having only one platform. Continuing Ethereum Classic’s development on Ethereum’s behalf will have bad consequences on both platforms. If one algorithm is destroyed, the other one will fall behind.
For sure, Ethereum Classic isn’t just an experiment for the original version Ethereum. It has many similar characteristics and benefits as the old version. One thing is certain, it continues to be active on the marketplace and there are users who still buy, sell and exchange the Ethereum Classic cryptocurrency.