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Launched in July 2016, Ethereum Classic (ETC) is a hard fork of Ethereum (ETH). Its main function is as a smart contract network, allowing it to host and support decentralized applications (Dapps). The native token used on Ethereum Classic is ETC. The main aim is to preserve the Ethereum Blockchain as it originally was and will remain Proof of Work (PoW).
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Ethereum Classic's appeal began with those who disagreed with the decision to fork. Since Ethereum Classic has no plan to convert to a Proof of Stake (PoS) mining algorithm, miners will still be able to collect them based on work done as PoW. Over time, ETC and ETH are diverging further apart over time.
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*Â Although the term "stablecoin" is commonly used, there is no guarantee that the asset will maintain a stable value in relation to the value of the reference asset when traded on secondary markets or that the reserve of assets, if there is one, will be adequate to satisfy all redemptions.
Because stablecoins* are designed to maintain a peg to fiat currencies, they can be useful tools. Coins such as USDC, USDT and QCAD generally experience lower volatility than other crypto assets.
*Â Although the term "stablecoin" is commonly used, there is no guarantee that the asset will maintain a stable value in relation to the value of the reference asset when traded on secondary markets or that the reserve of assets, if there is one, will be adequate to satisfy all redemptions.
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Disclaimer: This content is presented to you on an “as is” basis for general information and educational purposes only, without representation or warranty of any kind. It should not be construed as financial, legal or other professional advice, nor is it intended to recommend the purchase of any specific product or service. You should seek your own advice from appropriate professional advisors. Where the article is contributed by a third party contributor, please note that those views expressed belong to the third party contributor, and do not necessarily reflect those of Newton. Digital asset prices can be volatile. The value of your investment may go down or up and you may not get back the amount invested. You are solely responsible for your investment decisions and Newton is not liable for any losses you may incur.
