Cryptocurrency is a whole new concept. In the past, many people don’t know what exactly cryptocurrency is and those who have a little bit of idea hesitate to invest in it. But from the last couple of years, cryptocurrency has gained popularity and trust from the people. In the year 2020, it was very popular. There are different types of cryptocurrency, like Ethereum, Bitcoin, Dogecoin, Ethereum Classic, and many more. So let’s know about Ethereum first.
What Is Ethereum :
Ethereum is the community-run technology powering the cryptocurrency, Ether (ETH) . It is the second-largest cryptocurrency by market capitalization, after Bitcoin. Ethereum was proposed in 2013 by programmer Vitalik Buterin. Development was crowdfunded in 2014 , and the network went live on 30 July 2015, with an initial supply of 72 million coins . Ethereum is the second-largest cryptocurrency in the world.
Now let’s see what’s Ethereum Classic is .
What Is Ethereum Classic :
Ethereum Classic is an open-source, blockchain-based distributed computing platform featuring smart contract (scripting) functionality. Ethereum Classic maintains the original, unaltered history of the Ethereum network. Due to a hack of a third-party project, the Ethereum Foundation created a new version of the Ethereum main net on 20 July 2016 with an irregular state change implemented that erased the DAO theft from the Ethereum blockchain history. The Ethereum Foundation applied their trademark to the new, altered version of the Ethereum blockchain ; Ethereum (ticker: ETH) . The older, unaltered version of Ethereum was renamed and continued on as Ethereum Classic (ticker: ETC) . Ethereum Classic’s native Ether token is a cryptocurrency traded on digital currency exchange under the ticker symbol ETC .
Now let’s see why there is a rise in Ethereum Classic.
Ethereum Classic Crypto Regains 100$ Marks, Rallies Nearly 12% Today :
Crypto experts believe the main reason behind the rise of Ethereum Classic is that it’s catching up to the markets. As per Coindesk- Bitcoin, Ethereum, and many other Cryptocurrencies saw a major rise in their prices over the past years, However, the Ethereum Classic didn’t rise much . Experts believe the recent rise of prices of ETC is completely natural and normal . It took time to adjust in the market and finally showed some result . The rise of cryptocurrency is unpredictable but according to some experts, the price of Ethereum could rise to $123 by the end of this year and up to $139 by 2022.
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