Great news for Ethereum Classic enthusiasts. BTCC, the two e‘s biggest platform for trading Bitcoin in China, announced that it Ethereum Classic will integrate its platform. Ethereum Classic originated from a ‘hard fork’ with the Ethereum network to hack a hacker. But it turned out completely different.
Last year, millions of Ethers were stolen from the Ethereum network. To undo that theft, a ‘hard fork’ was implemented. The Ethereum community had expected the network around Ethereum Classic to die a silent death. But today Ethereum Classic is alive and kicking.
With the integration on the BTCC platform, Ethereum Classic shows that it still has a lot of potential. ETC even rose almost x10 in the last 3 months and has now achieved a market capitalization of $ 1.7 billion . It is therefore the five currently e biggest crypto currency.
One of the main reasons for the increase in recent months is the launch of Ethereum Classic Investment Digital Currency Group’s GrayScale Investment. This allows investors to invest publicly in Ethereum Classic.
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Ethereum Classic is now a digital currency
But the most important reason for the increase is the implementation of a new monetary policy for the crypto coin. At Ethereum there is an infinite number of Ethers that can be created. This can create an inflationary effect. But due to a ‘soft fork’, Ethereum Classic changed its policy to a deflationary effect .
This means that a fixed number of coins can be mined at Ethereum Classic, just like at Bitcoin. This is how the Ethereum Classic network wrote:
“Platform token is a critical part of a blockchain system that aligns economic incentives or key stakeholders, users, developers, investors, and miners. Its monetization makes everything tick and helps to bootstrap the ecosystem. However, it has been shown in economic history that reliable long-term monetization is impossible without two key characteristics; utility and scarcity, “
In 3 months time Ethereum changed from a digital asset like Ethereum to a digital currency like Bitcoin. If the hacker of last year just kept his coins, he will be the one who laughs the loudest now.
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