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Ethereum Classic (ETC) Is Aiming To Align With Ethereum (ETH)

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Ethereum Classic
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The DAO attack recently resulted in the Ethereum hard fork, the significance of which is still lingering and will continue to do so for a long time. The reason behind this is that this attack resulted in the bifurcation of the Ethereum blockchain. The newly formed chain is known Ethereum while the old chain that did not embrace any alterations to the code was renamed as Ethereum Classic (ETC).

Not only did the two coins adopted different roadmaps but also the original chain remained incompatible and lacked upgradation. This implied that none of the current upgrades and updates could be implemented on the platform of Ethereum. For instance, ETH is shifting to a proof-of-stake algorithm while ETC will continue working on a proof of work algorithm. ETH is also equipped with remarkable features like faster block completion times and smart contracts. To aggravate matters, most of the major personalities who used to work in the Ethereum community including Gavin Wood and Vitalik Buterin have shifted towards working at the new chain.

The resulting impasse that resulted from the conceptual and moral differences meant that there were some areas of contention between the two communities of ETC and ETH. While the newly formed ETH has emerged in the second position only after Bitcoin in the crypto market in terms of market capitalization, ETC is lagging behind at 17th position in terms of market capitalization.

Plans for 2018: Ethereum Classic aims to match with Ethereum in the use of smart contracts

Vitalik Buterin has suggested the idea to have the supply of ETH capped at about 120 million coins. This is consistent with the view that a limitless supply of ETH will be likely to cause harm to the value of the value of the currency in the near future. While this recommendation is still to be approved by the Ethereum community, it projects an interesting perspective regarding how the course the future of ETH may be taking. Besides this, it will be interesting to see how Ethereum shapes its monetary reforms and policies. This comes in the light of how ETH is planning to shift from a PoW to a PoS. In spite of the fact that both Ethereum Classic (ETC) and Ethereum (ETH) are decentralized platforms that provide smart contracts; the latter is favored over the former. However, the ETC team has a detailed plan of action, through which it plans to attain the goal of making its platform more appealing to developers.

The ETCdev team has its focus set on several development projects which it plans to carry out in 2018.the primary agenda of the team is to bridge the gap with Ethereum. Their roadmap for 2018 consists of three goals:

  • Developing more scalability of the ETC platform through sidechains
  • Assimilation with the internet of things (IoT)
  • Offering a platform for third-party developer to enable them to design and establish their dApps.

A comparison between the current markets of ETH and ETC

The position for both ETH and also ETC is not particularly bright in the short-term. These coins have witnessed a turbulent season. Their value started declining fast in the last couple of weeks. The valuation of ETH was 857 dollars against the US dollar on 3rd March 2018, and its market capitalization was at a value of 84 billion dollars. On 2nd April its valuation plummeted to 390 dollars and the market capitalization value stands at 38.4 billion dollars. This plunge represents a fall of over 50% within just a month’s time.

ETC has also been going through a rough patch and there are fears that its value will also continue plunging until May. At the beginning of March 2018, ETC/USD traded at 30.79 dollars and the currency had a market capitalization value of 3.08 billion. However, by April 2nd, the valuation has plunged to 14 dollars and the market cap has shrunk to 1.4 billion dollars.

Which one should you choose?

While most believe Ethereum is the coin to bet on as it has the second largest market cap, several new features are being updated regularly, thus making it capable to disrupt several industries. However, there are several big names in the crypto industry that still root for Ethereum Classic. There is also the perception that Ethereum’s price may be exaggerated due to the building of ICOs on the network and the usage of Ether. The market outlook for both coins is negative currently, even though there is still ample opportunity in the future for investors to make a profit by investing in either. However, due to established market position and visibility, Ethereum is the safer bet.

We will be updating our subscribers as soon as we know more. For the latest on ETC, sign up below!

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 and read our full disclaimer.

Image courtesy of Ethereum Classic via Flickr

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How Can Foreigners Get Loans in Singapore

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loans for foreigners in Singapore
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Foreigners who are residing in Singapore and looking for financing could do so in the form of a payday loan. It is good to find out that you can borrow the money from a reputable lender and that the interest rates are low enough for it to be a viable option. Online lenders that specialize in doing business in the country can certainly help one. These online companies are not only reliable, but their service is fast.

At the same time, many cannot afford a high standard of living. Many individuals cannot afford essentials, such as a car or a house. It can be difficult for the majority of the working class to scrape through on their basic salary. 

What defines a foreigner in Singapore? 

A foreigner in Singapore means that you are not a permanent or natural citizen there. As a foreigner, you will not be holding a Singaporean passport. The rules can differ a little for foreigners and residents. Singapore, being a multinational hub, houses many foreigners within the city. Foreigners come to Singapore for the many attractions it offers. Many people come to Singapore for Work-related purposes. A lot many also come for vacations or to visit a friend or a relative. Some foreigners come with a plan to move to Singapore permanently, attracted by their lavish lifestyle. Singapore also…

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Altcoins

Aluna.Social is a Compelling Social Platform for Crypto Traders and Investors

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Aluna.Social
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When one thinks about the social media landscape, the companies that first come to mind are most likely Facebook, Instagram, LinkedIn, and Snapchat.  These platforms are a great way to stay connected with friends, families, and colleagues, especially when geographic distance is a factor.  But, in addition to just chatting about life in general and sharing pictures, social media can be used to bridge the information gap that exists within the investment community.

Over the last decade, many trading offices have been established in large cities all over the world which allow solo traders and investors to pay a monthly fee in exchange for a workspace.  The real benefit to trading in these offices is to participate in the free flow of trading ideas and information.  Proprietary trading is one of the most challenging careers to be successful at and the exchange of ideas is almost required in order to succeed.  Traders at hedge funds and investment banks work in teams so why shouldn’t remote traders?

While these trading offices are a great way to help bridge the information gap, Aluna.Social may provide an even better way, especially as it relates to cryptocurrency trading.

Mission Statement

Aluna.Social, founded by Alvin Lee and Henrique Matias, is a multi-exchange social trading terminal for crypto traders and investors.  The goal of the platform is to help newcomers shorten their learning curve,…

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Altcoins

CoinFlip Scores Big with BRD Wallet Partnership

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CoinFlip
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As the crypto markets move closer to mass adoption, one of the keys for future success will revolve around attracting as many market participants as possible.  While many crypto users are extremely tech oriented, a lot of those on the sidelines are not.  The cause of waiting on the sidelines could be due to a variety of reasons such as fear of the unknown, lack of knowledge, age, or a combination of all of the above.  In order to entice new users to join the crypto revolution, crypto ATMs are rising up across the country.  Of those, the largest and most influential crypto ATM company by a significant margin is CoinFlip.

In early October, CoinFlip announced on its Twitter that it had officially partnered with BRD Wallet to re-introduce their crypto ATM map.  Now, BRD wallet users will be able to locate their nearest CoinFlip ATM and receive a 10% discount for both buys and sells.  BRD brand awareness is growing quickly within the crypto community thanks to its innovative and entrepreneurial spirit.  The team strongly believes in the value of financial freedom and independence, and want to empower people across the world by leveraging the possibilities that Bitcoin and other cryptocurrencies provide.

Cryptocurrencies are already making a huge difference around the world.  Citizens of Venezuela, a country devastated by rampant inflation, have been using several cryptocurrencies…

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