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The origin of Ethereum Classic (ETC) dates again to 2016 when the good contract working on the Ethereum blockchain known as, The DAO, collapsed due to an enormous hack. The genesis blockchain was then break up in two, Ethereum and Ethereum Classic, just like how Bitcoin break up into Bitcoin and Bitcoin Cash again in 2017.

What Sets ETC Apart

Ethereum Classic describes itself as an open-source, blockchain-based distributed computing platform that includes good contract performance.

The elementary functioning of Ethereum (ETH) and Ethereum Classic (ETC) is sort of related. On Ethereum Classic, nearly all of Ethereum’s key functionalities are additionally accessible. However, there are a number of vital distinctions between the 2. The most important being the truth that, upgrades to the Ethereum blockchain are predominantly incompatible with Ethereum Classic.

Read More: Crypto Expert Predicts Ethereum (ETH) Price; Time To Buy?

This turned significantly notable in September 2022, when The Merge came about, the place the Ethereum blockchain completed transitioning to a proof-of-stake consensus technique. As, Ethereum Classic nonetheless remained a proof-of-work chain.

At the beginning of final yr, when the bull run was able to begin, the token took off and rallied together with different main cryptocurrencies. And, regardless of having reached document highs, ETC’s worth not too long ago had a big fall because of latest pullbacks and ongoing turmoil within the crypto market.

Ethereum Classic (ETC) Price Prediction For Long Term

At the time of writing, the worth of ETC is $15.77, up by 1% over yesterday, in line with the market monitoring portal CoinMarketCap. The worth of the cryptocurrency was nearly double the final yr with ETC buying and selling at round $34 in December of 2021.

But in line with projections made by the web site cryptopredictions.com, the worth of ETC would possibly improve once more within the coming years.

Read More: Solana (SOL) Price: Biggest Hurdle For Recovery

The knowledge additional predicts a gentle progress fee for the cryptocurrency in case there aren’t any extra black-swan occasions.

Now, in line with at present’s worth, when you invested $1,000 into Ethereum Classic, you’ll obtain 63.33 ETC cash.

And in case the worth hits $100 within the subsequent few years, this $1,000 funding of yours would turn out to be $6,333, which is a rise of 533%.

Disclaimer: This isn’t funding recommendation. Please do your due diligence earlier than investing in any asset.

Also Read: Here’s How Much Your $100 Investment In Polygon Will Be Worth If MATIC Reaches $5

Pratik has been a crypto evangelist since 2016 & been via nearly all that crypto has to supply. Be it the ICO increase, bear markets of 2018, Bitcoin halving to until now – he has seen all of it.

The offered content material could embrace the non-public opinion of the creator and is topic to market situation. Do your market analysis earlier than investing in cryptocurrencies. The creator or the publication doesn’t maintain any accountability on your private monetary loss.