In yesterday’s trading session, the price of Ethereum Classic surged more than 20%, breaking through the long-term resistance level of...
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Ethereum Classic
Ethereum classic is a blockchain network created in 2016 after a hard fork of the Ethereum blockchain following the hacking event that led to the loss of $50 million worth of Ethereum.
What’s Ethereum classic?
Ethereum classic operates as an open-source blockchain network that runs smart contracts similar to Ethereum, but their valuation differs significantly.
After the hard fork, Ethereum Classic was the original network that was hacked, while the current Ethereum blockchain was the new, more secure network.
Since has been associated with multiple security issues and hacking events, which has hampered its growth compared to its peer.
The Ethereum network has continued growing from strength to strength ever since the hard fork, leaving Ethereum classic playing catch up since they both target the intelligent contracts market.
Most investors trust the Ethereum network, which has seen massive capital flows into it since the hard fork, while Etehreum Classic has lagged and is widely regarded as a less secure blockchain network.
Ethereum classics native token is ETC.
Ethereum Classic is one of the most accessible cryptocurrencies in the market.
How to buy?
To buy it, you need to open an online account, link it to your bank account, and then make a purchase. In addition, you may need to purchase a wallet to store your tokens.
Investing in cryptocurrencies requires extensive research on the investor’s part because of the high volatility. That said, ETC remains a very risky crypto to invest in. even for short-term players who are there for quick profits.
