ETC has enjoyed a crazy run-up in price during the past month in anticipation of the Ethereum (ETH) Merge. Are these prices sustainable? Is ETC still an excellent buy-and-hold opportunity?
n this article, I will look at what the “Merge” will mean for Ethereum and Ethereum Classic and the future of cryptocurrency itself.
“If Ethereum fails to scale, then Ethereum definitely failed.” — Vitalik Buterin.
The Merge will unite the ETH’s tenth mainnet, “Shadow Fork,” with the Beacon Chain to solve what is known as the “blockchain trilemma” of providing scalability, security, and decentralization to create a powerful, hybrid blockchain platform.
This Merge will have a significant impact on the cryptocurrency market.
Solving this trilemma is not as simple as it would seem. Months and years of computing and testing must be completed before it can go live to ensure it is seamless and efficient.
For instance, Ethereum will go from 30 TSP to an estimated 100K TSP.
That trilemma is why there are nearly 20k altcoins in the cryptocurrency universe. Each solves one or two portions of the trilemma or provides another unique aspect to power its token.
“Considering the end goal is reducing their carbon consumption by 99.85% — I’d say the effort was worth the time.” — Bitboy Crypto.
Bitboy is one of my favorite YouTube V-Loggers, as he speaks his mind and is concise without much hype.
ETC was created due to the ETH fork in 2016 after the Ethereum network was hacked. The ETH blockchain was created to provide a more secure platform, and what existed then became ETC.
However, it left Ethereum as is, thereby creating ETC.
ETC’s price soared recently in the cryptocurrency market due to the upcoming Merge.
