Except for the difficulty bomb, it has the same features as Vitalik Buterin’s brainchild. The Ethereum project plans to switch to the Proof of Stake protocol, so it has included a hashrate difficulty bomb to motivate miners to use PoS. Ethereum Classic will continue to operate on Proof of Work, so the difficulty bomb is not activated.
To improve the network’s security, the developers decided to split the blockchain in half. That is how Ethereum Classic was created, and the former blockchain was renamed in this way. At the same time, the transaction history was preserved so that the users of the former network received the same amount of ETC as they had ETH.
The fact is that the Ethereum network surpasses Ethereum Classic in terms of popularity and number of users because Ethereum is the choice of most of the DApps developers. On the other hand, Ethereum Classic is a cheap cryptocurrency to buy, which also has a growing community.
The Ethereum Classic team decided not to migrate the network to PoS, trying to maintain the loyalty of users and miners. At the same time, almost all smart contract developers began to work on the new Ethereum blockchain. The emission of ETC is limited to 210 million coins, unlike ETH, where about 2 million coins are mined annually.
Compared with the “older brother,” ETC is the best cheap cryptocurrency to buy. As of April 2022, ETC costs $37. To learn more about this coin, go to the white blog.
ETC developers do not lose hope regarding the future of the project. The project’s strong suit is a large number of active ETC wallets.
Like Bitcoin, the ETC network has switched to a limited emission - 210 million. In addition, the platform offers unique functionality for developers, which allows creating decentralized platforms. The developers of the ETC network are focusing on the Internet of Things. So if you are looking for the best cheap crypto to buy, check out Ethereum Classic.