Ethereum Vintage (ETC) is a popular cryptocurrency and blockchain network, launched in 2015. It is an original version of Ethereum (Eth), which aims to provide a secure and relative platform for smart contracts and dysentery applications (DApps). Ethereum Vintage has its own digital currency, called ETC. In this blog, we will learn about Etreum Vintage in detail, which includes its history and its main features. It will also know how it is different from Ethereum.
History of Ethereum Vintage
History of Ethereum Vintage Ethereum is associated with. In 2015, when Ethereum was launched, it emerged as a successful and fast network. Subsequently, in 2016 there was a large hacked on the Ethereum Community, resulting in about 3.6 million eths. After this hack, there was a split in Ethereum Public and there was a lot of debate about its solution.
Resolving this problem, the Ethereum Community took a “Hard Fork” decision, which was aimed at returning the stolen money. After this Withered Fork, Ethereum (Eth) and Etreum Vintage (ETC) became two different blockchain networks. Ethereum Vintage decided to keep the network in basic form after hack, ie they maintained the original blockchain instead of reversing the effects of the hack.
Difference between Ethereum Vintage (ETC) and Etreum (Eth)
Both Ethereum Vintage and Etreum (Eth) have come from a similar start, but now there are many significant differences.
1. Governance and directions:
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Ethereum has a Centralized Development Team, which takes future decisions of the network. It consists of central control to a large extent.
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The Ethereum Vintage has a centralized governance model, in which the decisions are from the Consensus of the Community, that is, any person can contribute to the development of the network. It is very open and independent.
2. Consensus Algorithms:
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The Ethereum Vintage has maintained its original Pow Consensus Algorithm, which performs more energy conjuncations, but is considered important for decentralization and security.
3. Smart Contracts and Dapps:
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Both networks support smart contracts and dapps, but the development of Etreum Vintage is slow as it receives support from low resources and developer community than Etreum.
Ethereum Vintage (ETC) main features
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Smart Contracts & Dapps, Ethereum Vintage also supports smart contracts and dapps like Etreum. This platform gives developers permission to create an automatic contract without any mediator, leading to transparency and efficiency.
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Evidence-of-Paintings (Pow) Consensus Algorithms, Ethereum Vintage has adopted Pow Consensus Set of Rules, which works to solve computational problems to create a secure network. The network using pows is difficult to hack, but its energy consumption is high.
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Community-driven development, Ethereum Vintage does not have any centralized team. Its development is completely dependent on the community. It follows a “Do-OCRACY” model, in which any person can participate in the development of the network.
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Security, Ethereum Vintage Community faced 51% attack in 2020, in which hackers tried to control the network’s mining hasharet. However, security has been improved after this and now it has become the world’s largest power shrewd pledges blockchain.
Ethereum Vintage (ETC) to Tenomics
Ethereum Vintage has a native token etc., whose total supply is 210 million. ETC is used as smart contracts, dapps and transactions fees. If you live Ethereum vintage value If you want to know, then you can check it by clicking on the link.
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Initial supply, Most of the total supply of Ethereum Vintage have already been mined and do not increase over time as in the Ethereum. Apart from this, there is no centralized protocol to control the supply of tokens.
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Mining and fees, To do transactions in Ethereum Vintage Community, you have to pay a small fee, called “gas fees”. The miners of this gas fees are paid, which work to make the network transactions valid.
Ethereum Vintage Security
Ethereum Vintage is based on its Evidence-of-Paintings (Pow) Consensus Algorithm. Pow is a main method of safety where the miners solve the tough calculations computely to secure the network. Thus, when someone tries to make changes on the network, he has to use more energy to prove it, which ensures security.
In 2020, Etreum Vintage faced 51% attack, after which security has been further strengthened and now the network is more secure than before.
Future of Ethereum Vintage
Ethereum Vintage has a strong roadmap for long distance, especially for the community that believes in the decentralization and power gadget. Its adoption is slow compared to Ethereum, but its continuity and stability makes it a powerful network. The future of Ethereum Vintage will mainly depend on the support and decentralization of its community.
Conclusion
Ethereum Vintage is an important blockchain in the Crypto World, which maintains the desirelization and strong traditions of the Power Consensus while maintaining the original version of the Ethereum. It provides a safe platform for smart contracts and dapps and its community inspired governance separates it from Ethereum. In addition, focusing on the security and stability of Etreum Vintage makes it different from other blockchain networks.
