If you are looking for reasons to buy Ethereum Classic, this new year, we may be able to help you out.
Ethereum Classic (ETC) is an open-source, peer-to-peer, computing platform based on blockchain technology and the original Ethereum code. Just like Ethereum, it provides a value token, or “altcoin”, called “classic ether” which is used to pay users for products and services, and as a transaction fee when using decentralized apps and smart contracts.
You may also read: How to Mine Ethereum Classic?
That being said, here are ten reasons to invest in Ethereum Classic, in 2019.
ETC accounts cannot be modified by others. While some blockchains allow their participants to use their social and economic power to vote on the account balances of others, ETC has ensured that even this possibility will not arise.
Ethereum Classic’s price is almost one-tenth to that of the new Ethereum blockchain, even if their use cases are exactly the same. At press time it was trading at 4.37 USD. The ecosystem boasts of scalability and fast transaction speeds powered by low fees.
Most startups building new projects have low budgets and that is why Ethereum Classic is the ideal project launch pad in the market today.
Several nodes in Ethereum Classic’s decentralized blockchain record transactions. This means, any hacker that wishes to part with valuables on this network will have to attack 51% of the nodes to win, which is impossible as it’s a demanding process.
4. Credible and secure
Ethereum Classic has demonstrated real credibility when splitting from the Ethereum community by sticking to a truly immutable blockchain.
Its security is also quite commendable, as it is as a blue-chip cryptocurrency, which adds an extra security protocol.
Highly efficient value transfers can be conducted with Ethereum Classic. It focuses on IoT applications, runs a mathematically verified Ethereum Virtual Machine, or EVM and strives to be a highly efficient means of exchange that connects the world’s devices.
You may also read: A Beginner’s Guide to Ethereum Classic
ETC’s community is so designed such that its very structure avoids centralized leadership, whereby only a few individuals can make the decision. Responsibility for development and discussion are distributed between many parties.
7. Backed by influential investors
Though is a high-risk investment, there is more upside potential for investors. Barry Silbert of Grayscale Investment Trust is known to be a supporter of the project.
Ethereum Classic is available in most of the major exchanges, functional globally.
There are many Ethereum Classic wallets – both online and offline, where you can store Ethereum Classic and even other cryptocurrencies.
Classic, on the other hand, is a decentralized computing platform that allows software developers to write DApps whose databases and transaction records can be accessed not only by their respective company but all the computers on this blockchain.
The Ethereum Classic which emanates from the Ethereum blockchain and codes has almost the same use cases as ETH. Gradually, more and more people have started working with ETC, thus making its mainstream adoption a dream of the near future.
It is thus very clear, that despite the bearish market, that does not seem to ends, ETC may turn out to be an excellent investment, as there is a huge possibility, that one the bullish run returns, this altcoin will gain value.
Here are a few articles for you to read next:
- How to Buy Ethereum Classic?
- 10 Differences Between Ethereum and Ethereum Classic
- What was the Highest Price of Ethereum classic?