Is Ethereum Classic better than Ethereum?
In terms of security and scalability, Ethereum Classic has some limitations going forward. While the Ethereum network is switching to the Proof of Stake consensus mechanism with the “merge”, Ethereum Classic continues to use Proof of Work. Only if the network adopts PoS in the future can that Transaction limit can be increased and the risk of future attacks minimized. In addition, PoS would significantly improve the environmental footprint of the Ethereum Classic blockchain.
While Ethereum’s price has multiplied since 2016 and Ether has secured the second place in the ranking of the most popular cryptocurrencies by market capitalization, Ethereum Classic has performed significantly differently. The ETC course is strongly based on the prices of meme coins. In 2021, the Ethereum Classic course rose sharply and brought investors high returns.
Around 40,000 transactions are completed daily using Ethereum Classic – this is quite a distance from Ethereum’s around 600,000 per day, but still shows that the cryptocurrency is still being used.
One reason to buy Ethereum Classic is the low price per coin. While Ethereum is worth several thousand euros per coin, the ETC price is less than 50 euros.
Important: If you want to buy cryptocurrencies, you should consider whether you would rather invest in Ethereum or Ethereum Classic. The two cryptocurrencies differ in their basic principle. It is questionable whether both cryptocurrencies will prevail in the long term.