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Ethereum Classic Fundamental Analysis
Ethereum Classic emerged in July 2016 as a response to a hack on the Ethereum platform, known as a DAO attack where 50 million Ethers were stolen. Although most of the stolen coins were recovered, the creator of Ethereum, Vitalik Buterin along with a part of the community decided to run the hardfork. As a result, two groups emerged – the supporters of carrying out the hardfork and modifying the Blockchain to return the stolen coins and those who wanted to keep things immutable. Those who decided to continue with the original version founded a new platform called Ethereum Classic with Ethers Classic coins as a token. After an unpromising start, the currency managed to remain stable throughout 2017, experiencing a notable rise in June. Shortly after this peak, Ethereum Classic has gradually increased its value until reaching approximately $40 in January 2018. The increase in its price is attributed to a successful crowdfunding campaign when Ethers Classic has raised more than $ 143 million and was placed among the 20 most important cryptocurrencies by capitalization volume. Ethereum Classic is a decentralized blockchain-based computing platform that works with smart contracts and provides users with an unchanging, resistant blockchain platform that will allow developers to create decentralized applications (Dapps). Neither the state nor any other controlling bodies have authority over them. Dapps on Ethereum Classic should be more secure and transparent to create new types of applications that are not possible on centralized servers. At the same time, in Ethereum Classic applications all information about the program and transactions is stored and distributed across all nodes on a decentralized blockchain. Regarding its structure, Ethereum Classic is organized into nodes made up of clients that are also servers (with a total of 34,442 nodes). It uses the type of SHA3 algorithm based on PoW ("proof of work"), allowing the creation of distributed applications (Dapps) and smart contracts.
Ethereum Classic Live Price Chart
Ethereum Classic Technical Analysis
Ethereum Classic Price Prediction
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