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Reasons to Buy Ethereum Classic (ETC)

• It is a decentralized computing platform for the execution of smart contracts.
• It has a market share of more than $7 billion dollars.
• It allows uncensorable smart contracts to be written, deployed, and executed.
• ETC acts as fuel for the Ethereum Classic Blockchain network.
• It has a circulating supply of nearly 130 million coins, but the maximum supply is around 270 million ETC coins.

Ethereum Classic is the result of a hard fork that happened in July 2016 when a group of participants disagreed to revert the effects of a hack.

It is used as a smart contract network, just like Ethereum, for powering the Decentralized Applications (DApps). The Ethereum blockchain is adapting the developments and also transferring itself to the ‘Proof-of-Stake’ consensus algorithm, however, Ethereum Classic tends to maintain the originality of Ethereum even in the upcoming years.

Things to consider before buying Ethereum Classic (ETC)

• Ethereum classic aims to preserve Ethereum Blockchain the way it was before the hack.
• It has a limited supply of coins which can shoot up the price of ETC.
•  Ethereum Classic requires the use of gas as the cost for doing work on the blockchain.

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Disclaimer : Crypto products and NFTs are unregulated and can be highly risky. There may be no regulatory recourse for any loss from such transactions. The information provided in this post is not to be considered as investment/financial advice from CoinSwitch. Any action taken upon the information shall be at user's own risk.