Ethereum Classic Network Shines Brighter with Excellent Stats

Ethereum Classic Network Shines Brighter with Excellent Stats

Ethereum Classic has been a trending topic in cryptocurrency space for the last few weeks. Ethereum Classic has also been trending following the announcement that Coinbase would be listing the asset in the near future.

Ethereum Classic is gradually showing amazing results as shown by the stats revealed by the company.

About Ethereum Classic

Ethereum Classic (ETC) is an open-source, public, and blockchain-based distributed platform that works on the premise of smart contracts. Ethereum Classic is not a new cryptocurrency but is a split from an existing cryptocurrency, Ethereum (ETH).

Ethereum Classic has also been subject to one of the biggest hacks in the history of cryptocurrency. It is powered by “Classic Ether.” The Classic Ether token is used to pay users for products and services, as well as for paying transaction fees.

Ethereum Classic offers the same functionality as Ethereum. It offers the possibility of creating and deploying smart contracts and decentralized apps. It also has the same average block time, with the same size and reward.

The social media following of Ethereum Classic has grown significantly, with their Twitter and Reddit accounts seeing increases of up to 70%.

The excellent stats of Ethereum Classic

At the time of writing, Ethereum Classic is trading at $17.93 USD with a market capitalization of $1,849,193,270 USD. The trading volume (24 hrs) is $280,186,000 USD and has a circulating supply of 103,116,208 ETC. It is ranked at 15 at the time of writing.

ETC, the bigger sibling, is much more decentralized by taking a Bitcoin-like approach. ETH, on the other hand, has an unlimited coin supply that’s generated through a fixed inflation algorithm.

Ethereum Classic works with an aim to be the cryptocurrency which enables all devices connected to the internet to trade value according to smart contracts. The field they are looking into seems very promising and is surely a goal that is worth pursuing the convenience of the general public.

Ethereum Classic looks into a sidechain solution which resembles the Lightning Network and has much more to do than focusing on scalability. It focuses on efficiency, energy consumption, and governance.

With $1.85 billion market capitalization and trading volume of $280 million, Ethereum Classic is increasing its usage. The stats reveal a positive report for Ethereum Classic and the figures have grown since their Twitter post.

The twitter post reads as:

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Aayushi Dhawan
Aayushi Dhawan is an avid reader, researcher, crypto writer and a passionate student. While pursuing her graduation in commerce at SRCC, she realized that writing and Finance give her immense pleasure. She is currently pursuing her post graduation in Commerce (Finance) from Department of Commerce, Delhi School of Economics and keeps on exploring the intricacies of research, her biggest strength.