In the recent past, Ethereum Classic (ETC) has been in the limelight due to its fall in prices. Over the past 24 hours, ETC had a price change of negative 7.61%. From the investor’s side, it may sound disgusting. However, other coins like Bitcoin, Stellar, Cardano, and Litecoin had similar retrogressive charts. So, where exactly did this cryptocurrency come from?
The 15th ranked digital coin was built on the original Ethereum blockchain. On the contrary, ETC is not subjective to interferences. These interferences may include hacking, tampering of transactions, and other cryptocurrency fraud.
As at now, Ethereum Classic has already managed to build two hardware wallets, including Trezor hardware wallet and Ledger hardware wallet. For this reason, people can store their Classic Ether safely through the hardware wallets. The currency has over 15 mining pools on their Github page. In addition, the fact that it has been listed on popular exchanges like Bittrex and Bitfinex means that the coin has been well accepted by the community. But before anything, here is what has been happening.
Ethereum Classic Recent Tech Trends
Since the beginning of 2018, it is clear that ETC Development team is working on the cryptocurrency. On March 1st, its community adopted a monetary policy. In the beginning, the Ethereum Classic Development Team noted that since the inception of the coin in 2016, its market grew significantly. So, there was a need to balance long-term interests of ETC community.
As a result, the community recently adopted a fixed cap monetary policy. Besides, grayscale launched Ethereum Classic investment funds that could track ETC market price for users, and bring less fees and expenses.
In 2018, Ethereum Classic has several resolutions. The development team plans to make an Emerald mobile wallet, improve scalability in sidechains, and increase interoperability – the compatibility of a cryptocurrency with other currencies. You should also note that ETC has a token known as Classic Ether, which one can exchange, and store in various wallets. All in all, here are the future developments set to improve Classic Ether, and the entire Ethereum Classic.
What Next For Ethereum Classic?
The team confirmed that Emerald wallet development is still in progress. Currently, it has already been tested but it’s not yet perfect. As at now, the wallet can synchronize to the ETC network in a minute.
But the major concern about ETC was price fluctuation. According to Pyskell, ETC coder, Ethereum Classic team is aware of its imperfections, and is working hard to fix them. If this comes a reality, then Ethereum Classic coin price may increase.
The good news is that ETC will have sidechains that will facilitate transactions at zero fee. Sidechains will also have the flexibility of being either public or private. In addition, low powered devices can also use the sidechains.
In reality, it is difficult to predict the future of Ethereum Classic (ETC). Its current market trends can be repulsive for investors. Let’s wait and see if ETC will be among the best cryptocurrencies in 2018. The coin still has potential future.