ETC May Enter Top Five If Ethereum Classic Provides Security Services To Ethereum According To Analyst

Ethereum Classic news has been positive since after the 51% power consolidation attack that happened earlier in the year. At the time, many people thought that Ethereum Classic would never recover from the attack. The Ethereum Classic future prediction became bleak. However, the attack was followed by a major comeback. The price of Ethereum Classic started rising against the USD and the interest investors have in Ethereum Classic was renewed. Now, a well-known cryptocurrency analyst is suggesting that the Ethereum Classic future is bright and the blockchain can provide security services for its brother blockchain, Ethereum.

Ethereum Classic Future Prediction – Ethereum Classic News Today – Ethereum Classic Can Provide Security Services To Ethereum

According to one of the communications coordinators in the Ethereum Classic community, Ethereum Classic can provide security services for the foremost decentralised computer in the world, Ethereum. Donald McIntyre, who used to be the head of the ETCDEV foundation before it shut down, said that the Ethereum Classic blockchain makes high security and value top priorities. This was during an interview with Cryptogloble. In his words;

“ETH and ETC have different functions in the blockchain industry stack. ETC will be a highly secure base chain, perfectly suitable for decentralized computing and high value smart contracts between people and businesses, while ETH is aiming to be a high speed and high volume transactions layer to satisfy high performance applications. ETC Could Provide Security Services to ETH. In that context, ETC could even provide security services to high performance networks such as ETH. I think it would be a big advantage for both ecosystems (ETH and ETC) to analyze that possibility as it would likely minimize, in the context of a standards war, which means that only few networks will survive in the future, the threat of alternative ETH compatible chains such as EOS, Tezos, Cardano, and others.”

Making reference to the features of the Ethereum Classic blockchain, he said;

“When ETH finally moves to ETH 2.0, which is a proof-of-stake (PoS) based system with database fragmentation, in the form of sharding, and variable monetary policy, ETC will be the only non-fragmented, fixed monetary policy, (proof-of-work) PoW and Turing complete blockchain. That is an extremely valuable niche in the industry that will be increasingly appreciated in the next few years as the layer 1 (L1) vs layer (L2) and security vs performance segmentations become more evident for market participants.”

He also talked about all the challenges the Ethereum Classic platform has been facing and is still likely to face. In his words;

“On the technical side, ETC as a platform is not facing major challenges as I see the ECIP (Ethereum Classic Improvement Proposal) upgrades pipeline is advancing smoothly. For example, the Atlantis hard fork on block 8,750,000, which integrates ETH’s Spurious Dragon and Byzantium upgrades, will likely be deployed and activated by mid September 2019, and the Agharta hard fork on block 9,200,000, which integrates ETH’s Constantinople and St.Petersburg upgrades, is under technical analysis, but has minor observations that are being ironed out.”

McIntyre also talked about other blockchains that provide smart contract and dApp functionalities like EOS, Cardano, and Tezos. The bottom line is that the Ethereum Classic future prediction is bright whether or not it provides security services for Ethereum or not. It may end up among the top five blockchains on CoinMarketCapital’s list of cryptocurrencies.

Ethereum Classic (ETC) Price Today – ETC / USD

Name Price
bitcoin
Bitcoin
$9,983.07-6.55%
ethereum-classic
Ethereum Classic
$6.06-1.15%

What do you think about the Ethereum Classic future prediction and the comments by Donald McIntyre in the Ethereum Classic news today? Kindly share your thoughts in the comment section.

Max writes about blockchain projects and regulation with a special focus on United States and China. He joined Smarterum after years of writing for various media outlets.

Leave a Reply

This site uses Akismet to reduce spam. Learn how your comment data is processed.