Ethereum vs. Ethereum Classic: What’s the Difference?
Ethereum and Ethereum Classic—similar ideas with similar names. If you're interested in adding ether to your crypto portfolio, you may wonder what the difference between Ethereum and Ethereum Classic is and which of the two you should mine. In this brief comparison, we go over the history of this cryptocurrency and both versions' pros and cons.
The History of Ether
Ethereum (ETH) and Ethereum Classic (ETC) are both forms of tech that allow you to buy, sell, and trade ether around the world. But what's the difference?
Interestingly, ETH and ETC were once part of the same blockchain. But in 2016, the blockchain was hacked, resulting in a hard fork split at block 1,920,000. After the hack, many members of the community resolved to edit the blockchain, erase the hack, and restore what was lost. Ethereum is the tweaked version of the OG blockchain; Ethereum Classic is the version that retains the hack and the blockchain's original code.
Pros and Cons
ETH and ETC have unique pros and cons. Let's take a look at them:
- More popular
- Higher market cap
- Less volatile
- Stronger support from Enterprise Ethereum Alliance
- More and better features
- Less hackable
- May not appeal to crypto originalists
- Stable; less room for major gains
- Much cheaper than ETH
- More room for huge gains
- Abides by immutability
- Still has many of the same features as ETH
- Less popular
- Vulnerable to attacks
- Outdated features
- Not backward compatible with Ethereum
Which Should You Invest In?
Now that you understand the difference between Ethereum and Ethereum Classic, you might be wondering which one you should invest in. The answer is that it depends. Both have their pros and cons. Ultimately, the choice depends on your personal goals.
Ethereum is the more popular of the two currencies, and it's more widely available and easier to buy, sell, and trade. It's also newer, better protected, and provides more support than ETC.
If you believe in immutability, or code of law, ETC may be more up your alley. ETC maintains the idea that nobody has the right to censor the execution of code on the blockchain. While the value of ETC is highly speculative and volatile, it also has immense room for growth, which could lead to huge gains in the future.
Whether you're interested in mining ETH or ETC, BT-Miners can help you achieve your goal. We provide premium miners and support services to miners around the nation. Get started in Ethereum mining today with one of our top-notch ETH or ETC miners!