The price difference between Eth and etc digital currencies is very large. We have a very deep understanding of eth, the second largest currency in market value; Smart contract platform with the largest number of projects; The most mature operating system on the digital currency blockchain; Graphics card mining preferred currency, etc;
So what about etc? How did it come from? Is it valuable? What is the difference between etc and eth? Why is the price difference so big?Now, as an outsider, I will talk about these things carefully, which only represents my personal views.
How did the current etc come from?
In that year (mid-2016), there was a project (the Dao) that used Ethereum to raise public funds, resulting in the theft of more than $60 million of Ethereum. At that time, this matter caused a great sensation.
However, the reason for the theft is that there are loopholes in this project. It's not about Ethereum at all. It doesn't even have anything to do with Ethereum at all. However, this project (the Dao) is participated by core personnel such as Ethereum foundation and V God. Of course, if their own coins are stolen, they can't just forget it. So they made a hard fork, found the stolen coins, and announced that eth after the hard fork is the real token, and those coins before the fork don't count, Then the miners also need to use the upgraded mining program to mine on a new chain.
In terms of economic benefits, the "old" ether coins dug up by miners on the old chain have little value. They can not be traded in the exchange, and no one is willing to take risks to buy the old coins because the life and death of the old chain are uncertain. Miners have no source of income, and it is only a matter of time before the old chain disappears.
In the past, there were excellent bifurcations on other blockchains. At that time, most miners switched to the new chain, and the old chain automatically disappeared. However, the Ethereum hard bifurcation is different this time. Due to differences, some miners continue to maintain the old chain (maintain computing power in the old chain and old mining procedures). Therefore, the old chain does not disappear immediately and is still tenacious.
These people have a firm belief that they cannot tamper with the code (referring to hard bifurcation events) for their own self-interest. The code is both a law and no one (including the founder and Ethereum Foundation) has the right to change it once it takes effect. These people claim to be firm practitioners of decentralization, preferring to influence benefits rather than violate their beliefs.
Just as the old chain was in turmoil, the great savior appeared. Poloniex (p-net), the world's largest Ethereum trading platform, took the lead in announcing the start of trading old versions of Ethereum. In order to distinguish it from the new version of eth, the old currency code is etc (Ethereum Classic). Therefore, etc has circulation value, because the price is very low, and there are investors (machines) willing to take risks to buy it, so the miners can make a living.
Etc (ether Classic) has survived tenaciously since then.
The emergence of etc has shifted the focus of debate in Ethereum community from the Dao to the future development of etc and eth. One view is that etc is a more pure decentralized system than eth, so it will win in the end. Another view is that eth is supported by most people and vitalik, the core developer. Eth represents the future.
Why is the price difference between Eth and etc so large?
Because etc itself is barely alive, and the price is also very low after going to the exchange. People who own eth also have the same etc, while people who support eth (with a large number of eth in their hands, such as Ethereum Foundation) continue to sell their etc to maintain the position of eth.
Others always believe that etc is the real decentralized product, so they insist on buying etc, which leads to the situation of having two ethereums (Ethereum and etheric Classics). V God, the founder of ether coin, firmly supports eth, and the ETH team has many strong partners. Although the code of etc is the same as eth, there is no strong team (or strong back organization) to promote technology and various publicity. At present, the price difference between Eth and etc is very large for various reasons.
So what's the difference between Eth and etc today? Which one has more potential in future development?
In the future, ETH will change the algorithm from POW to pos. POW is mining machine mining, and POS? As long as you hold money, you're mining. The more money you hold, the more money you get. Yes, this is POS. After changing to POS, the reputation is for environmental protection (not so much electricity), and the second is that the transfer speed is fast, there are not so many nodes. Of course, the transfer speed is faster, but there are fewer and fewer nodes, which must be more and more centralized.
Etc shows that it is always the pow mechanism, which is always produced by mining machines. In this way, it is more fair and will not cause a large gap between the rich and the poor. And the founders themselves need to dig mines to get money.
The coins produced by graphics card and pure CPU mining can better prove that the whole people participate in bookkeeping and witness. If the founder is gone; The exchange stopped trading; The policy prohibits; These coins will still have a certain value, because they are produced by the witness of the whole people. These coins are priceless in every miner's heart.
At present, there are many projects using eth as a smart contract platform (which is one of the reasons for the high price of ETH), and eth has a v-god bonus. The support of the technical team behind it makes the whole system more stable. Eth has many users and partners, forming a huge ecosystem.
Although there are few projects using etc at present, the development of eth has entered a bottleneck period, and there will be more and more projects using etc. etc is the real opponent of eth. As like as two peas, the EOS\ code is the same as the ETC ETH, and ETC is more pure. The ETC that always uses the POW mechanism is the real centralization of digital money, and there is no such interference as the centralized organization of V and the ether foundation.
