In today’s article, we will be analyzing various factors and forecasts to determine an Ethereum Classic price prediction for 2019.
What is Ethereum Classic?
Ethereum Classic is a crypto which resulted from a fork from the Ethereum chain. The fork took place on July 20, 2016, in order to restore the funds lost due to a vulnerability in the DAO smart contract code.
In June 2016, a hacker exploited the DAO smart contract and stole 3.6 million ETH from the fund, which had a value of $55 million at the time.
The Ethereum community was divided between supporting the new chain and the old one. Those that remained on the original chain resulted in the birth of Ethereum Classic.
In terms of code, Ethereum Classic and Ethereum are not all that different. ETC also supports smart contracts and it uses the same Ethash mining algorithm like ETH. Other technical aspects are also shared by the two blockchains.
The major differences are seen in the financial and community sector. Most of the community and developers moved to the new chain,…