Cryptocurrencies have been the best-performing commodities on the market so far, with Ethereum and Bitcoin both making solid profits.
Everyone knows about Ethereum (ETH), but not many people know about Ethereum Classic (ETC), and some people will confuse Ethereum and Ethereum Classic, and they can’t tell the difference. Not only is Ethereum Classic similar in name to Ethereum, but the two cryptocurrencies are also functionally similar.
Ethereum was created by innovators trying to run smart contracts using the blockchain network. Today, it has a market capitalization of over $305 billion, making it the second-largest cryptocurrency on the planet. In operation for many years, Ethereum has always been the leader of blockchain technology innovation, and has achieved many major technological innovations, carrying more and more decentralized applications.
Ethereum Classic, the original version of Ethereum, was forked from the Ethereum (ETH) mainnet due to a hack of a project called The DAO. Following the exploit, Ethereum’s developers decided to roll back the malicious transaction in an attempt to circumvent the hackers and return the stolen funds to their proper owners. The recently launched Ethereum kept the name, while the old one became Ethereum Classic.
Ethereum Classic established itself as a truly transaction-irreversible blockchain by refusing to take back funds from DAO attackers. It is precisely because of the purity of its dominant consciousness that it provides a steady stream of impetus for the continuous development of ETC. The rise of ETC is also a testament to the power of decentralized, unregulated blockchain systems, and traders and other major blockchain players are attracted to this quality of ETC.
After the hard fork, the monetary policies of ETH and ETC also came to a fork in the road. In terms of resource scarcity, ETH currently has no upper limit and is in the stage of continuous additional issuance. ETC has returned to the tradition of Austrian economics, and has carried out a production reduction plan in the way of Bitcoin, and the final total issuance will not exceed 230 million.
The existence of ETC has shifted the focus of debate in the Ethereum community from The DAO to between ETC and ETH. One side believes that ETC is a purer decentralized system and is the original intention of cryptocurrency, so ETC has more potential. The other side believes that compared with ETC, ETH is obviously more accepted by people, so ETH is the future of Ethereum. Perhaps, in the future, ETC and ETH can go hand in hand. As a promising crypto market and public blockchain, the achievements of Ethereum will soon be realized.
At present, professional ASIC rig that supports mining ETC and ETH is very rare in the world. Now, JASMINER X4 High-throughput 1U server supports ETCHASH and ETHASH algorithms, and is a well-deserved cryptocurrency wealth generator in the field of Ethereum blockchain. It has a hash rate of 520MH/s±10%, while the power consumption is only 240W±10%, and the total electricity cost is only 3%. And, since ETC has the largest supply, miners will mainly profit from transaction fees rather than minting new blocks after ETC hits the cap. Therefore, ETC only needs half the hash rate to balance the income and expenditure on the mining rig. The JASMINER X4 High-throughput 1U server, the mining rig king in the Ethereum field, will undoubtedly build double insurance, allowing people to enjoy the rich rewards of the blockchain in the encrypted world of Ethereum.
If people are considering investing in either ETC or ETH, it is important to understand the high volatility of the cryptocurrency market first, as there is no guarantee that any cryptocurrency will stand the test of time. However, it is an eternal truth to enjoy the dividends of the blockchain era as soon as possible, and it is a good choice to mine ETC or ETH with the JASMINER X4 High-throughput 1U server.