For most investors, it seems difficult to buy coins that have leveled off or don’t have enough upward momentum. But at the end of the day, the long-term outlook is what really matters to crypto investors.
While Ethereum Classic (ETC) appears to be battling bullish momentum at the moment, the cryptocurrency will still provide value to investors in the medium to long term, and its evolution provides a glimpse into the unique investment prospects of Ethereum Classic.
Ethereum is an open-source public blockchain platform with smart contract capabilities that provides a decentralized platform for processing peer-to-peer contracts through its built-in native token, ether. Ethereum can be used to program, decentralize, secure and trade anything. Ethereum is the only native token built into Ethereum to support the operation of smart contracts.
Ethereum is regarded as the 2.0 version of Bitcoin, which uses a different blockchain technology than Bitcoin, and developers need to pay in Ether (ETH) to support the operation of the application. Like other digital currencies, ether can be bought and sold on exchanges.
On July 20, 2016, Ethereum finally implemented a hard fork plan at the 1920,000th block height, which was divided into two chains, called ETH chain and ETH Classic chain respectively, and tokens were called ETH and ETC respectively. Then came the Ethereum Classic blockchain version and its token ETC.
After the hard fork, the monetary policies of ETH and ETC also came to a fork in the road. ETH currently has no upper limit and is in the stage of continuous issuance, making ETH an inflation-resistant currency. Anti-inflation is a special case of inflation, where the rate of inflation decreases every year. ETC has returned to the tradition of Austrian economics, and has carried out a production reduction plan in the way of Bitcoin, and the final total issuance will not exceed 230 million.
The core of the blockchain is the consensus mechanism. The ETC developer community has stated that it will not switch to POS like ETH. ETC will continue to use the POW consensus algorithm to make any node connected to the dynamic network profitable.
Regarding transaction speed, ETH – 25 seconds on average. It will be shortened after the upgrade. ETC – 14 seconds on average. 10-14 seconds after upgrade (according to ECIP1010 and ECIP-1036 protocols). In terms of block capacity, as the daily transaction volume of ETH gradually reaches 5 million, the block capacity is gradually saturated. This situation is similar to the transaction fee problem of Bitcoin recently. This problem can be solved by expanding the block capacity. And ETC – there is still a lot of room for block capacity at present. As more and more people accept ETC, the block capacity will also increase, just like ETH.
As a sponsor of the Ethereum Classic Investment Trust, Grayscale published a 22-page paper titled “Into the Ether with Ethereum Classic.” The article outlines potential applications for Ethereum Classic and why investors should pay attention to it.
“We believe that Ethereum Classic will one day be the foundation for a globalized, secure, and decentralized Internet of Things (IoT),” the article reads. And pointed out that if by 2025, ETC can obtain 10% of the data traffic of IoT devices, then the price of each ETC will be close to $150.
Referring to the investment opportunities of ETC, Beck wrote: “First, ETC has properties similar to precious metals and Bitcoin as a store of value, making it an inflation hedge and suitable for long-term investments. Second, as a digital token ETC that runs Ethereum Classic smart contracts, it is a scarce commodity that can power the globalized Internet of Things. “
ETC currently has many exciting projects being launched, and more and more people believe that Ethereum Classic will become a decentralized and immutable public infrastructure in the future. So what is the investment value of Ethereum Classic? First of all, the market value is high, and Ethereum Classic ranks in the top 15 in the digital currency market by market value; secondly, it is famous, and as a fork of Ethereum, it has a certain reputation; thirdly, the fluctuations are relatively stable, and there are not so many ups and downs compared to Air Coin; finally, you can also use better mining rig, such as “JASMINER X4 High-throughput 1U -C server”.
Professional ASIC mining rig like “JASMINER X4 High-throughput 1U -C server” can provide powerful kinetic energy for mining ETC. According to reports, this professional mining rig specially designed for mining ETC was scrambled by miners in the global Ethereum field as soon as it was listed. It mainly supports the ETCHASH algorithm, has a hash rate of 450MH/S±10%, and consumes only 240W±10%. Its biggest advantage lies in the innovative design of “high hash rate and low power consumption”, which can solve the problem of high mining electricity costs for mining rig to a certain extent. At the same time, it can also reduce the mining site restrictions, which is very friendly to ordinary beginners.
Buffett’s most famous quote is snowballing, he said, “Life is like a snowball, and the key is to find wet snow and long slopes.” Small snowballs are your startup capital, wet snow is low-cost long-term capital, long A long hillside is an excellent project with a long-term competitive advantage. With these conditions, you can get compound interest that snowballs. In the field of cryptocurrency investment, broader market sentiment and on-chain developments will play a crucial role in influencing future trends, and choosing a promising cryptocurrency like ETC can greatly reduce investors’ buying risk. Through mining, the easiest method, the income can be further turned into compound interest, and individuals can also roll the snowball of the encrypted capital market.
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