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Ethereum Classic (ETC): Rising Against the Odds

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Ethereum Classic
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Ethereum Classic is one of those crypto “offsprings” that we weren’t sure would make it far, at least not over the long run and with all the fuss about having ETC potentially existing on illegal terms in the future. However, the last couple of days are telling a different story about ETC as this token was hitting the roof with its rising price. Many have expected that, but in favor of those who have not, we are compiling a reminder on what Ethereum Classic is all about and how come this token could potentially become illegal in the future where decentralized platforms could be possibly regulated. And, of course, we are all interested in predicting ETC’s future progress.

A little about Ethereum Classic

Ethereum Classic wouldn’t be possible to exist if it weren’t for that infamous stealth that wiped away over 3.6 million ETH. In case you don’t remember, the stealth happened thanks to the flaw existing within the core system of DAO. DAO, abbreviated from Decentralized Autonomous Organization, was created to allow users to easily fund projects through Ethereum platform, but since there was a flaw within the system, there was a loop that allowed the anonymous hacker to almost effortlessly take the money stored within DAO. How did this happen?

DAO was used to fund different projects easily through the model of smart contracts Ethereum is famous for. All members of the community could thus fund DAO account to help out the projects they liked. However, the thing about DAO funding is that the developers allowed all participants to retrieve their donations in case they would change their mind about supporting a certain project. That wouldn’t be trouble if DAO didn’t have a safe period policy, where the retrieving money had to stay within the system for some time before being returned to the owner. During that time, the money being retrieved didn’t belong either to the project or the original owner but existed in sort of an escrow ecosystem, which initially created the loop that the hacker could easily take advantage of.

Since that infamous occasion, Ethereum platform decided to go hard fork and change the entire system, making it impossible for all coin holders and members to use the platform normally unless they have accepted all applied changes in the form of updating their system. Lots of people found that case favorable, so they switched to hard fork, but other didn’t want to change anything, so they remained as users of the previous model of Ethereum platform. That is how Ethereum Classic was born, which leads us to the fact that in case there would be some serious regulations brought into the light in the far or near future, Ethereum Classic would be considered to be illegal. How come?

Ethereum Classic doesn’t run on its own platform – it exists on top of Ethereum’s original platform before the hard fork was implemented, so many experts believe that this case could be considered to be illegal in the future.

That is because Ethereum Classic never got official permission to exist, which is completely in the spirit of decentralized platforms. While Ethereum seems to have nothing against Ethereum Classic, in case regulations for decentralized platforms would come to the realization, this token would probably seize to exist.

This can, of course, be prevented with more regulations, but the guess is that we will have to wait and see since this is a purely speculative presumption, although based on a factual case.

For now, Ethereum’s “offspring” seems to be doing pretty well within its newly developed community of people who chose to remain faithful to the soft fork.

How is Ethereum Classic doing at the current moment?

The ones that chose the soft fork as a more favorable option are probably getting excited as their token of choice is hitting the green field of rises when all other currencies are seeing bad days.

Even though Ethereum Classic has still a long way to go until it reaches the price ETH has at the current moment, ETC is doing pretty fine by itself.

Even after the latest drop, ETC has a price that is encouraging ETC holders’ decision to stick with the “old ways” and deny going under the hard fork. Ethereum Classic is currently among the top 20 cryptocurrencies, holding the 16th place on the global coin ranking list and judging by everything, this coin is here to stay.

What 2018 Could Bring to Ethereum Classic?

You can’t ignore the fact that Ethereum Classic holders might be some of the most faithful crypto coin users (besides maybe the DOGEcoin community) as this fact might give you an insight into the circulation of ETC. You can easily conclude based on that fact that ETC users and investors would rather buy more of these tokens than sell the ones they have, so ETC seems to be immune to selloffs – at least for now.

If Ethereum was to continue at the same pace, by the end of 2018, this token could easily get close to being worth at least a 100$ per one unit, which would be a major success for Ethereum Classic and its users.

However, we must always have in mind that drops and rises are pretty much unpredictable to the core so that anything can happen in the following months. Still, one remains for sure – Ethereum Classic is doing great at this moment.

Disclaimer: This article should not be taken as, and is not intended to provide, investment advice. Global Coin Report and/or its affiliates, employees, writers, and subcontractors are cryptocurrency investors and from time to time may or may not have holdings in some of the coins or tokens they cover. Please conduct your own thorough research before investing in any cryptocurrency.

Image courtesy of coinmarketcap.com

Altcoins

Cryptocurrency Collateralized Debt Positions Are Growing in Popularity

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collateralized debt position
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While Bitcoin (BTC) continues to hover around the magical 10,000 price level, altcoins continue to fight an uphill battle.  Simply put, hopes of a future bull run continue to diminish as Bitcoin maintains its dominance.  One school of thought is that a few altcoins will survive and flourish, but which ones are anyone’s guess.  That being said, it’s hard to go wrong picking against the top coins like Ethereum (ETH), Ripple (XRP), Litecoin (LTC), and EOS.  These projects have managed to find a foothold in the market and have a better chance than most of staying there.  While traders wait for their positions to increase in value, one opportunity that may be worth looking at is initiating a collateralized debt position.

What is a Cryptocurrency CDP?

In traditional terms, a CDP is essentially putting up collateral in order to receive a loan against the deposited amount.  There are several examples of this in our day to day lives.  Auto title loans from large companies like TitleMax are extremely popular with consumers.  Consumers are essentially able to use their car as collateral in exchange for a cash payment which can then be used for whatever needs the consumer has.  The consumer can continue using their car as long as debt payments are made.

The same concept applies to cryptocurrency CDPs.  Consumers are able to put up crypto tokens, such as…

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Altcoins

Hodium Presents a Compelling Opportunity for Outsized Investment Returns

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Hodium
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I’m sure all of us remember the cryptocurrency glory days of 2017 and early 2018.  It was one of the biggest bull runs in history and created incredibly wealth for quite a few early entrants.  Unfortunately, for most of us, those gains have most likely been wiped out during the altcoin apocalypse.  The truth is that traders probably thought a bit too highly of their trading abilities when the reality was that anyone could have thrown a dart at a board and ended up making money.

As markets mature (and the crypto market is definitely maturing) it becomes more and more difficult to generate alpha.  In that regard, it’s similar to traditional financial markets.  I can remember trading during my high school days.  It was the late 90s and right in the middle of the dot.com boom.  Eventually, however, the euphoria fades away and reality hits hard.  Now, it’s become rather difficult to actually trade profitably which has given way to the rise of hedge funds.

Hedge funds are investment funds that pool capital from accredited and/or institutional investors and invest in a variety of assets, often with extremely complex portfolio-construction and risk management techniques.  The professionals employed by hedge funds are the best of the best and have spent years honing their craft.  That is why they’re able to make the millions of dollars that they normally…

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Altcoins

KaratGold Proves Its Business Model By Providing Official Documents

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There has been a lot of renewed enthusiasm in the cryptocurrency market thanks mainly to Bitcoin’s strong move about 10,000.  Although Bitcoin continues to show its dominance, the altcoin market has yet to benefit from that rally.  A few of the largest altcoins remain popular but the rest of the market continues to lag behind.  In 2018, there was a lot of talk regarding a possible altcoin apocalypse where only the strong would survive.  That prediction appears to be playing out as expected.  Going forward, only the best projects that have a real world need will survive.  Crypto traders will have to spend a lot of their time doing proper research in order to find the best opportunities, just like in all financial markets.  One promising project that appears to have the makings of a future winner is KaratGold Coin.

KaratGold Background

KaratGold Coin is a cryptocurrency developed by the reputable German company Karatbars International, which maintains a leading position in the market of small gold items and investments. The project is part of a larger ecosystem, which involves several blockchain solutions that can be used for transactions, communication, investing and other tasks. During the past few weeks, however, the KaratGold ecosystem has been a target of unsavory scam allegations.  

Karatbars International and GSB Gold Standard Banking Corporation…

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