When one looks at the list of digital coins in a crypto market, one will realize that there are two types of Ethereum circulating in the market. One is Ethereum (ETH) and the other one is the Ethereum classic (ETC).
Despite sharing the same name and similarities like having a common development team, awesome technologies behind them and a long term-scope, these two cryptocurrencies have one of the interesting stories in the crypto world.
Some years back, we only had one Ethereum and not two as we can currently see. It was only after an unknown hacker stole more than $50 million worth Ethereum and this resulted to the formation of two distinct camps of people dealing with one coin in the cryptocurrency world and this is what lead to the emergence of the Ethereum Classic (ETC).
As we all know bircoin prices rose significantly and because bitcoin is expensive, most of the investors are looking for other cryptocurrencies that cost less, and since Ethereum is the second after bitcoin, many are opting to invest in it.
However, new adopters in the market always think and wonder, what differentiates Ethereum and Ethereum Classic, so we will go over the differences between the two:
Key Differences between Ethereum Vs Ethereum Classic
In terms of their functionality, both of them are very similar because they originate from the same chain.
The differences are more ideological but it is worth to understand that with time, there might be some major differences because the developers are still working on the improvement of these cryptocurencies.
One of the major issues is that the Ethereum Classic has is that it is not compatible with the Hard Fork, and this limits how the users can enjoy the updates being built in the ETC, like the Ethereum migration from the proof of work to a new Proof of Stake.
On the other side, the Hard Fork seal has been broken, and it is quite speculative because there may be no more hard forks in the future and this risk makes the long-term price of Ethereum very volatile.
Based on the research that has been done, NVIDIA GTX 1070 is the most productive GPU available for both Ethereum and Ethereum Classic mining.
Miners can also use AMD rx470 but GTX 1070 GPU has the best hash rates compared to other mining GPU’s.
From the available data, South Korea is the largest market for both Ethereum and Ethereum Classic. Approximately 50% of the Ethereum is being traded in South Korea.
A larger percentage of Ethereum is traded in Bitfinex and Coinbase while Ethereum Classic is traded in Poloniex and Bitfinex.
However, Ethereum Classic has a limited market space compared to Ethereum in regards to availability in exchanges like Bitfinex.
Ethereum has a clear advantage here ! Specially for those who trade in a variety of exchanges.
In conclusion, it is difficult to predict which cryptocurrency will outperform in the future but currently, Ethereum is the best in terms of investing and mining.