Ethereum Classic (ETC) was released back in July 2016 (about two years now) as an extension of the original Ethereum blockchain. Curtailing from the blockchain of Ethereum, Ethereum Classic evolved rapidly and gained much recognition. Ethereum Classic may not enjoy the growth and mainstream adoption that comes alongside just like Ethereum, but it holds its own very well.
Ethereum Classic Market Performance and Price
The last couple of months have been very tempestuous for the digital currency market. More than 90 percent of the whole coins in the market are showing red digits over the past thirty days, and Ethereum Classic is not exempted.
The digital currency started this week on a strong note, the gains of more than 12 percent it began the week with have all been lost. The value of ETC has reduced by 0.32 percent and its present trading value is $15.39. The twenty-four hours trading volume of the coin is $114.7 million. The digital currency is ranked 18th with a market cap of $1.572 billion.
CoinPayments Now Supports ETC
On the 5th of June, CoinPayments – a multi-coin wallet – announced support for Ethereum Classic payment processing. This means merchants can now make and receive payments with ETC. Ethereum Classic started trading on the platform which accepts more than 450 different digital currencies barely twenty-fours hours ago.
Parity Wallet Update
Digital currency buffs and users will be adept with the Parity wallet of ETC, a full node wallet and one of the most secure and fastest ways of interacting with the blockchain of Ethereum. The ETC technical team has found a severe bug in one of the versions, and they advised all Parity wallet users to update the software.
Future of ETC
Ethereum Classic also encounters the same scalability problems like Ethereum. ETC may not have a lot of issues yet, but the development team is already working on a solution when it gets mainstream adoption. ETC is working to implement Sidechains on its platform, and this will be ready by the third quarter of this year.