Difference Between Ethereum & Ethereum Classic

If you take look at any crypto market spreadsheet you will see two different types of Ethereum; Ethereum (ETH) and Ethereum Classic (ETC). This post will only be teaching you the basic information difference between these two. More information will be available in the internet.

The two cryptocurrencies share the same name and an interesting story in cryptocurrency history.

Before there were the two Ethereums we have now, there was only one Ethereum. In June 2016, $50 million was stolen by unknown hackers, and this resulted in two separate Ethereum in the cryptocurrency world. They differentiated the hacked Ethereum aa Ethereum Classic and the new Ethereum as it is now.

The Differences between ETC vs ETH

Ethereum functions as a new blockchain, and the vast majority of miners and users use this new version of Ethereum.

Ethereum is actually derived from Ethereum Classic.

Ethereum Classic (ETC) runs on the same protocol with similar function, but it does have some distinct differences in its community. The 10% or so people from the original Ethereum are loyal to the immutable ledger. ETC has value due to speculator market, similar to many of the other alt-coins.

On the other hand, Ethereum is more like a company that desires to grow and could possibly have more hard forks in the future. Ethereum primarily has value due to speculator market, and community support. The Ethereum Alliance, consists of huge firms such as Accenture, JP Morgan, Microsoft, and UBS. This support has added credit to ETH over ETC.

There are distinct strengths and weaknesses for both ETH and ETC, but ETH is more favored as it has a market capacity of over $15 billion, whereas ETC has only around $1.5 billion.

Final Thoughts

Between ETC vs ETH, majority of crypto investors have chosen Ethereum. While Ethereum (ETH) could be recognized as a violation of the principles of immutability of Ethereum, it is one of the examples of victory for the Ethereum community being able to manage the worst hack in cryptocurrency history. If there was no victory, the cryptocurrency, might not have existed today.

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