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Ethereum Classic (ETC): HYPE or Something More?? 🤔

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Final Ethereum Basic Vid 👉
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Cryptocurrency Tokenomics 👉
Crypto Technical Evaluation Tutorial Half 1 👉


0:00 Intro
01:45 Historical past of Ethereum Basic
03:26 The DAO Hack
06:55 Ethereum Basic vs. Ethereum
10:21 ETC Worth Analaysis
13:24 Who Hacked The DAO?
16:54 Conclusion


⛓️ 🔗 Helpful Hyperlinks 🔗 ⛓️

► DAO Hack Defined In Element:
► Ethereum Basic Defined:
► IOHK Treasury Proposal Ethereum Basic:
► Slock It DAO Hack “Apology”:
► Ethereum Basic Pseudonymous Co-Founder:
► Open Letter From DAO Hacker:


⌛Historical past of Ethereum Basic⌛

Based on Cardano founder Charles Hoskinson, Ethereum’s preliminary founders had two totally different philosophies about one of the simplest ways to develop cryptocurrencies

A few of them believed in the concept that code is legislation – what occurs on the blockchain stays on the blockchain for higher or for worse

Others nonetheless believed in mutability within the identify of innovation. In different phrases, if one thing dangerous occurs on the blockchain, steps ought to be taken to repair it

Ethereum Basic was created due to an occasion that put each of those crypto philosophies into query

👨‍💻The DAO Hack👨‍💻

The DAO was created by a Germany begin up referred to as Slock in June 2016, and inside a month of launching over 150 million {dollars}’ price of ETH had been deposited into the DAO sensible contract

On June seventeenth 2016, an nameless hacker drained 50 million {dollars}’ price of ETH from the DAO sensible contract, equal to about 5% of all of the ETH in circulation on the time

After disagreements about how to reply to the incident, Ethereum forked on the twentieth of July 2016, creating two separate blockchains

The Ethereum chain the place the DAO hack by no means occurred, and the Ethereum Basic chain the place the ETH stays stolen for higher or for worse

🥊Ethereum Basic vs. Ethereum🥊

Ethereum Basic is nearly an identical to Ethereum save for a number of minor variations. Ethereum Basic is dedicated to immutability – what occurs on the blockchain stays on the blockchain

ETC additionally has utterly totally different tokenomics than ETH. That is due to a change to Ethereum Basic in December 2017, which reduces ETC block rewards by 20% each 5 million blocks

It will proceed till ETC hits its most provide of 210 million 700 thousand, which is predicted to happen someday in 2042

📈ETC Worth Analaysis📈

ETC’s worth motion is as parabolic because it will get. ETC has gone up by greater than 20x because the begin of the 12 months. This rally started again in April, and there are three issues that might have triggered it

Most of this appears to be institutional funding by way of Grayscale. Grayscale’s Ethereum Basic belief has been round since 2018, and the belief appears to be holding greater than 13% of all of the ETC in circulation

🕵️‍♂‍ Who Hacked The DAO?🕵️‍♂‍

It appears obvious that the DAO hack was not pushed primarily by revenue, however by ideology. If it have been for revenue, the hacker would have drained all of the ETH from the DAO sensible contract

The general public letter to the Ethereum group reveals that this particular person is dedicated to the concept that code is legislation

Taken collectively, these details lead me to consider that the one that hacked the DAO is probably going one of many pseudonymous founders of Ethereum Basic


📜 Disclaimer 📜

The knowledge contained herein is for informational functions solely. Nothing herein shall be construed to be monetary authorized or tax recommendation. The content material of this video is solely the opinions of the speaker who shouldn’t be a licensed monetary advisor or registered funding advisor. Buying and selling cryptocurrencies poses appreciable danger of loss. The speaker doesn’t assure any explicit consequence.

#Ethereum #ETC #crypto #ethereumclassic #blockchain #DAO

Source: Coin Bureau

42 Responses

  1. Kinda wish the hack never happened, but doing nothing at the face of exploitation is much worse than the banks. Back then slavery was the "rule of law" but that doesn't mean it is right.

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