Ethereum Classic was launched in July 2016 as a continuation to the original Ethereum blockchain. Stemming from the Ethereum blockchain, Ethereum Classic (ETC) grew quite quickly into recognition. ETC may not enjoy as much mainstream attention and the growth that comes alongside like Ethereum, but it holds its own quite well.
Price and Market Performance of Ethereum Classic (ETC)
The last few months have been very turbulent for the crypto market. Over 90% of the entire market is showing red figures over the last 30 days, and Ethereum classic (ETC) is no exception. Ethereum Classic (ETC) opened the week on a strong note, the gains of over 12% it started the week with has flattened out.
Ethereum Classic is down by 0.32% and is trading at $15.39. Ethereum Classic has a 24 hours trade – exchange volume of $114.7 million USD. Daily trade volume of ETC, has been on a steady decline, the figures as at press time are down by over 55% when compared to last month.
Regardless of the drop in the daily trade volume, Ethereum classic still has the 10th highest 24 hours’ trade volume, with over half of this value trade/exchanged on OKEx. Ethereum Classic remains the 18th largest cryptocurrency with an estimated market capitalization of $1.572 billion USD.
Parity Wallet Update!
Members and crypto enthusiast will be adept with Ethereum Classic’s Parity wallet, a full node wallet and arguably one of the fastest and most secure ways of interacting with the Ethereum blockchain. The Technical team at Ethereum Classic has found a ‘critical bug’ in one of the versions and advised that all users of the Parity Wallet Update their software.
According to the security alert released, a potential consensus bug has been identified in older versions of the Parity Wallets. Affected versions include; Stable track up to 1.10.5 – stable and Beta track up to 1.11.2 – beta. The issue has been fixed in 1.10.6 stable and 1.11.3 beta.
CoinPayments Now Supports Ethereum Classic
The multi-coin wallet, CoinPayments on June 5 announced support for Ethereum Classic (ETC) payment processing, merchants can now buy and receive payments with Ethereum Classic. Ethereum Classic (ETC) opened for trade on CoinPayments which accepts over 450 different cryptocurrencies a couple of hours ago.
Why Ethereum Classic (ETC)?
Ethereum Classic may be miles apart from its mother chain Ethereum, however, Ethereum Classic is gradually working its way into mass adoption without much hype and self-promotion.
At the moment, Ethereum Classic may not enjoy as much mainstream attention as some of the other big players in the cryptoverse, but it will soon. Ethereum classic recently overcame the Difficulty bomb formerly present on the network through a soft fork. The removal of the difficulty bomb has made the Ethereum Classic Network more attractive to miners.
Future of Ethereum Classic (ETC)
Just like the mother chain, Ethereum Classic (ETC) faces the same scalability issues like Ethereum. Ethereum Classic may not have throughput issues yet, but the Team at Ethereum Classic are already working for a solution when it gets mainstream adoption. Ethereum classic is working to implement Sidechains on their network, which would be ready by Q3.