CRYPTOCURRENCY

Ethereum Classic (ETC) And Its Role In Blockchain History

Posted on by chang mr.

** Development of cryptocurrency: Ethereum classic (etc.

In the world of cryptocurrencies, there is a name for its resistance and historical significance: Ethereum Classic (etc.). As a pioneering project within the Ethereum network, etc., played an important role in planning the blockchain landscape. We deal with this article, etc. History and current state and examine its unique qualities and contributions to the cryptocurrency area.

etc origin **

Ethereum Classic was born in August 2021 from updating the Ethereum 2.0 consensus algorithm (ETH 2.0). This update was to introduce a faster, more energy efficient and scalable version of the Ethereum network. While the Ethereum 2.0 main update focused on improving scales, some developers, etc. They decided to create an alternative.

The ETC uses the same underlying technology and the same platform for the intelligent contract as Ethereum, but with some important differences that distinguish them from its competitor. One of the primary benefits of ETC is the ability to use the consensus of the stake (POS) evidence that reduces energy consumption and is more environmentally friendly.

ETCOR History

The travel of the ETC began in 2014 when the project was first introduced as Ethereum fork. The original goal was to create an alternative to the main network of Ethereum, with the intention of transporting a more decentralized and open source solution. Over time, Ethereum developers and users who are looking for a more energy -efficient alternative were popular.

During its development, etc. There were many challenges, including scalability problems and increased competition through other projects. Despite these obstacles, etc. The original vision is still required to provide a robust and secure blockchain platform for decentralized applications (Dapps).

Role in Blockchain Story

The effect of the ETC on the blockchain room cannot be overestimated. One of the earliest cryptocurrencies played an important role in the design of the modern blockchain to use the POS consensus.

A etc. Introduction was a turning point in the development of DAPPK, as it was several energy efficient and scalable alternative to the main network of Ethereum. This change prepared the way for other projects, such as Tezos (XTZ) and Cosmos (atom), which also used POS consensus and focused on improvement in scalability.

Important differences from Ethereum

A etc. Its unique features differ from competitor Ethereum. Some of the most important differences are:

* Consistent Salgorithm : ET uses the equity (POS) certificate, while Ethereum uses the work perception (POW).

* Energy consumption : etc. It is designed to be more energy efficient than Ethereum, which offers a more environmentally friendly option.

* Scale

Ethereum Classic (ETC) and

: While Ethereum 2.0 aims to improve scalability, the ET POS consensus model allows faster transaction processing times.

Diploma

Ethereum Classic (ETC) has played a long journey since 2014. Since one of the pioneering projects of the Ethereum network, etc. He played an important role in planning the blockchain landscape. Unique features, including justification of the use of stakemen and energy efficient design, differ from other cryptocurrencies.

When we look at the future, the original idea of ​​transporting a robust and secure blockchain platform for decentralized applications (Dapps) is still mandatory. Regardless of whether you are an Ethereum developer or just want to know more about the cryptocurrency, etc., it is definitely worth exploring.

chang mr.