Read on to find out some useful facts about ETH and ETC. This is especially important for novice investors.
Let’s Take a Closer Look at ETH and ETC
It’s easy for new crypto traders to confuse Ethereum (ETH) with Ethereum Classic (ETC). Both act as platforms for launching services, products, and decentralized organizations on the blockchain, but their biggest similarities end here.
ETC and ETH use different deflationary mechanisms, are valued differently, and use varying blockchain verification systems. Understanding their differences could help you make a wise trade.
Lucky for you, today we’ll be addressing the ETH vs ETC debate.
What You Should Know About ETH
Ethereum is a platform for the development of products, services, and decentralized organizations on the blockchain. Its token is called Ether and is the second most valuable cryptocurrency after Bitcoin. You can also use it to make trades to other coins (for instance, trade ETH to DOGE or any other altcoin.
The Ethereum blockchain supports the development of dApps, smart contracts, and decentralized autonomous organizations (DAOs).
Its latest upgrade, the Merge, has investors hopeful for its imminent increase in value. The Merge shifted the blockchain from a Proof of Work to a Proof of Stake validation system, which could reduce Ethereum’s energy consumption by 99%.
The upgrade will be followed by the Sharding upgrade in 2023, which will split the main blockchain into smaller chains to increase transaction speeds.
ETH Price Prediction
DigitalCoinPrice predicts that, on average, ETH will be worth $2,971.97 in 2023, $5,453.34 in 2025, and $18,358.79 in 2030.
PricePrediction has higher hopes for it at the end of the decade. It predicts that ETH’s average value will be $2,200.15 in 2023, $4,781.82 in 2025, and $31,886.16 in 2030.
Lastly, Cryptopolitan has the highest hopes, predicting that ETH will have an average value of $2,926.10 in 2023, $6,421.33 in 2025, and $39,995.93 in 2030.
ETC: Key Highlights
Ethereum Classic was created as a result of a hard fork of the original Ethereum blockchain after one DAO was hacked in 2016, with the hacker stealing Ether worth $150 million. The hack was a result of loopholes in the DAO’s smart contract code.
The core developers of Ethereum responded to this hack through an upgrade that rolled back DAOs’ transactions, allowing investors to reclaim their funds. While the majority of the community accepted the upgrade, some members rejected it since it infringed on the promised immutability of smart contracts. The latter remained in the original Ethereum blockchain, which was dubbed Ethereum Classic.
While Ethereum classic acts as a platform for dApps, DAOs, and smart contracts, the community has accepted so many changes that differentiate it from Ethereum. For instance, Ethereum Classic implemented a mining cap of 210 million coins as a deflationary measure. It also works under a Proof of Work mining system.
Among the latest upgrades to ETC is the Thanos upgrade, which went live in November 2020. This was a response to a few 51% attacks on the blockchain. The upgrade reduced the barrier of entry for miners by ensuring that people with low-GPU devices could easily mine on the blockchain.
ETC Price Forecast
ETC is worth $28 at the time of writing this article. Experts predict a significant increase in ETC’s value in the coming years.
DigitalCoinPrice predicts that, on average, ETC will be worth $67.07 in 2023, $110.08 in 2025, and $380.12 in 2030.
PricePrediction thinks that ETC’s average value will rise to $48.69 in 2023, $100.82 in 2025, and $634.05 in 2030.
Lastly, Cryptopolitan has the highest hopes for ETC’s growth, predicting that it will have an average value of $63.30 in 2023, $132.35 in 2025, and $777.68 in 2030.
Time to Make Your First Exchange
Both ETH and ETC are valuable assets you can start trading today. Best of all, both are poised to increase in value in the coming years, thanks to their widespread adoption rate. Use the information above to start trading with the asset that’s most appealing to you.
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