More numbers of Miners are joining the Ethereum Classic Network, thus making the network more secure. Reportedly, the hashrate of the ETC, recently touched the highest point in 3 months.
Of note, Ethereum Classic is one of the most accepted cryptocurrencies, which is traded on hundreds of exchanges worldwide. The supply of ETC is limited to prevent devaluing by inflation. Further, certainty about the future supply facilitates for a strong store of value.
Also, it is the ultimate expression of all the properties of money as it has all the properties, but is also trust-minimized, programmable and highly secure on a global scale. Therefore, ETC is an excellent environment for money, property and agreements. This is one reason for why Ethereum Classic has value.
Also, Ethereum Classic intentionally makes a tradeoff by being expensive for their users; however, this is to make things secure, when compared to traditional tech services. This is becoming essential, as it is designed to be like the internet.
Also, the supply of ETC is limited to prevent devaluing by inflation. This is certainty about future supply, which provides for a strong store of value. Further, for those who have not come across an already existing opinionated reminder about the qualities of “hard money” and how they relate to Ethereum Classic, given below as is from etcis.money:
“Fungible: A given unit is interchangeable with any other unit. 1 ETC = 1 ETC.
Durable: Cryptocurrency does not degrade over time like physical money.
Divisible: Gold can be melted down and recast. ETC can be split to 18 decimal places.
Portable: Cryptocurrencies enable frictionless transfers to anywhere in the universe.
Acceptable: ETC is one of the most accepted cryptocurrencies – by hundreds of exchanges worldwide.
Uncounterfitable: Proof of Work plus hash power equals double spending being extremely difficult to achieve.
Limited in Supply: Last but not least, the supply of ETC is limited to prevent devaluing by inflation; certainty about future supply provides a strong store of value.”
The fact that ETC is the only major smart contract platform with a known future supply gives a sure fire certainty about what the future looks like.
Also, about 63% of the ETC that will ever exist has already been mined. Over 99% will be mined by around 2065.
They have also compared and contrasted the properties of some other chain in a maximally biased way in terms of known supply, proof of work, turning complete, no premine, no foundation, no irregular state, layer 1 scalability, and layer 2 scalability, and ultimately for ETC, they derive at the principle of “Choose unstoppability, Choose principles, Choose money and Choose ETC.”
We hope you’ll like this article and if so feel free to send a tip to our writers in ETC Or any other Cryptos via this link.
The TCAT team.