What’s in store for Ethereum Classic?
The future of Ethereum Classic similarly builds on the mantra that “the code is law”. While the preliminary design was to follow in the footsteps of Ethereum, Ethereum Classic will probably continue to diverge away as Ethereum continues to introduce facets with which many in the Ethereum Classic community disagree. Whether this is a top or a awful aspect remains to be seen.
One of the largest divergent choices to be taken in the close to future is that of Ethereum Classic’s doubling down on mining (or Proof-of-Work) being the exceptional option for producing ETC for its users. There are symptoms that Ethereum can also as an alternative go toward a Proof-of-Stake system, where block era is carried out with the aid of coin-holders alternatively of miners. Stay tuned.
What to keep an eye out for
Ethereum Classic is not without its problems, many stemming from the fact that it is considered by many as a lesser fork of Ethereum.
The biggest concern users and investors have is that the “Ethereum Classic vs Ethereum” situation has created what many have dubbed a double blockchain. In a way, both the Ethereum Classic and the Ethereum blockchains are compatible with each other because they were born from the same trunk. As a result, one can attempt to access the Ethereum Classic blockchain using an Ethereum wallet and this can cause problems. For example, public wallet addresses might not belong to the same user on one chain as on the other.
This causes confusion and is detrimental to both Ethereum Classic and Ethereum itself. In fact, many Ethereum users are of the opinion that Ethereum Classic should be destroyed for the benefit of both platforms.
As such, this has caused a lot of volatility in the value of ETC and this will likely remain the case unless an agreement can be reached between both halves of the community.