And while this does not mean that the network is above the users, regulation and functioning of nation-states, the premise is to provide users with the opportunity to enter a "new jurisdiction" based on blockchain, intelligent contracts and the inviolability of the code. "Unless explicitly defined in the contract code, there are no reversals, they can not be undone, there are no opt-outs. The transactions are final; the applications are unstoppable, "reads its website.
And has it worked? Without having a market capitalization of the largest market, ETC has been maintained over time, hand in hand with the user community and its developers. The community and the developers have not left aside the burning debates of the ecosystem. Thus, the possibility of suffering a 51% attack or retention of blocks, the possible emergence of ASIC miners in the network and even the decrease in the profitability of mining activity have been taken care of.
At the beginning of June, the development team, with the approval of the community, withdrew the difficulty bomb. This element artificially increases the difficulty of mining the blocks in the network with a view to migrating from a consensus scheme by Proof of Work to one of Participation Test, as Ethereum plans. However, since ETC has not considered changing to a Participation Test, and since mining would no longer be profitable with an induced increase in the difficulty, they proceeded to withdraw the so-called bomb.
Among the latest milestones in this project is the recent addition of ETC to the Atomic Wallet portfolio, which allows atomic exchanges between different blockchains.
A others, users can follow price information and its market through the RobinHood application, and also await the possible addition of ETC to Coinbase, an integration that generates expectation due to the positive impact it could have on the market. Currently the currency has a market capitalization of 1,724,333,250 dollars, with a total outstanding of 103,167,618 ETC. Its current price is 16.71 dollars, which is equivalent to 0.0223895 BTC.
Featured image for AlekseyIvanov / stock.adobe.com