The development of the cryptocurrency: a look at Ethereum Classic (etc.)
In the world of cryptocurrencies there is a name for its resilience and historical importance: Ethereum Classic (etc.). As a pioneering project within the Ethereum network, etc., he played an important role in the design of the blockchain landscape. In this article we will deal with the history and the current state of etc. And we will examine its characteristics and unique contributions to the cryptocurrency area.
The origin of etc
Ethereum Classic was born in August 2021 from the update of the consent algorithm by Ethereum 2.0 (ETH 2.0). This update aimed to introduce a faster version, more efficient from an energy and scalable point of view of the Ethereum network. While the main update of Ethereum 2.0 focused on the improvements of scalability, some developers, etc. They decided to create an alternative.
Etc uses the same technology below and the same platform for Ethereum’s intelligent contract, but with some important differences that distinguish them from its competitor. One of the main advantages of ETC is the ability to use the consent of the pole tests (POS), which reduces the consumption of energy and more respectful of the environment.
History of etc
ETC’s journey began in 2014, when the project was introduced for the first time as Ethereum Fork. The original goal was to create an alternative to the main Ethereum network, with the intention of providing a more decentralized and open source solution. Over time, the developers of Ethereum and users who are looking for a more efficient alternative from an energy point of view have been earned in popularity.
During its development etc. There have been several challenges, including problems of scalability and greater competition through other projects. Despite these obstacles, etc., the original vision remains obliged to provide a robust and safe blockchain platform for decentralized applications (APPS).
Role in Blockchain history
The influence of ETC on the blockchain room cannot be overrated. One of the first cryptocurrencies to use POS consent played an important role in the design of the modern blockchain landscape.
The introduction of etc. He scored a turning point in the development of Dapps because it was a more efficient alternative from an energy point of view and scalable to the main Ethereum network. This shift has opened the way to other projects such as Tezos (XTZ) and Cosmos (Atom), who also used POS consensus and focused on the improvements of scalability.
important differences from Ethereum
The unique functions of etc. Differ from his competitor Ethereum. Some of the most important differences include:
* COAID SAGORITM : Et uses the test of sharing (POS), while Ethereum uses work detection (POW).
* Energy consumption
: etc. It is designed that it is more efficient from an Ethereum energy point of view, which makes it an option more respectful of the environment.
* Scalability : while Ethereum 2.0 aims to improve scalability, the POS consent model of ET allows the most quick transactions processing times.
Diploma
Ethereum Classic (etc) has played a lot from its foundation in 2014. As one of the pioneering projects within the Ethereum network, etc., he played an important role in the design of the blockchain panorama. The unique features, including proof of the use of stakemen and efficient design from an energy point of view, differ from the other cryptocurrencies.
When we examine the future, the original vision of providing a robust and safe blockchain platform for decentralized applications (DAPPS) remains forced. Regardless of the fact that you are an Ethereum developer or simply want to know more about cryptocurrency, etc. It is certainly worth exploring.