I have to guess that it is because of this coin’s name, but Ethereum Classic (ETC) is one of the least talked-about cryptocurrencies in the top 20. In my opinion, the name conjures up the feeling of older technology – at least older than the main Ethereum (ETH), which has maintained its spot as the 2nd most valuable digital currency globally. It is also leads the pack when it comes to dApps launched on the network, which is now in the hundreds.
With so much dominance, it’s hard to imagine ETC being able to compete, but there are actually some things looking up for Ethereum Classic this year – things that may push this coin closer to wider adoption.
Ethereum Classic (ETC) is already doing well
This coin is technically the original Ethereum protocol (ETH is a forked version of itself) – so it’s called classic for a reason. But it isn’t the old version in every sense, as the team behind this coin has made a ton of improvements – and are continuing to do so.
On the exchanges, Ethereum Classic (ETC) has soared to becoming the 16th most valuable cryptocurrency (according to CoinMarketCap, of course). Sure, Bitcoin Cash (BCH) is ranked higher – but ETC transactions are actually much faster. BCH doesn’t support smart contracts, either.
This blockchain certainly hasn’t come close to having as many dApps as the original ETH, but there have already been token sales on the ETC network – including GeoFounders and Metronome. It’s surely going to have to play catch up on this side of things.
This year, some solid enhancements are lined up
To begin with, in two days there will be a total website redesign for this cryptocurrency. That means a whole new look and a whole new way for new users and potential dApp clients to peer into what this technology has to offer. Well, at least we will get to see the preview images on that day.
But focusing more on the technology side of things, two big things are happening to Ethereum Classic (ETC) in 2018: sidechains and the Internet of Things (IoT).
According to the dev team, scaling through sidechains is one of their biggest focuses right now. They say that the sidencahin transactions will be free, and that even very low-powered personal devices can handle them.
They also want to focus on IoT capabilities:
“We’ll be the first blockchain to properly address the needs of IoT devices. While others claim to, and start announcing partnerships before anything even works, we’ll be the first to really get it done. At the core of our sidechains is SputnikVM which can run smart contracts anywhere, such as in the browser or you can put it in embedded devices. You can do this today. Not at some nebulous time in the future. Our sidechains will be highly flexible. They’ll allow whoever created them to choose between PoA or PoS approaches. They can be public, private or otherwise permissioned depending on your needs.”
That’s not all either – one of the Ethereum Classic designers, Richard Schumann, is designing a cool alternative to addresses by making them attractive shape designs. Check it out:
— Ethereum Classic (@eth_classic) March 20, 2018
Much prettier than long codes, right? Obviously there will be real addresses, too.
What do you guys think?
Disclaimer: This article should not be taken as, and is not intended to provide, investment advice. Please conduct your own thorough research before investing in any cryptocurrency.