What are the key differences between Ethereum Classic and other cryptocurrencies?

3 answers

• Mar 18, 2022 · 3 years ago
  Ethereum Classic (ETC) is a decentralized platform that enables smart contracts, similar to Ethereum (ETH). However, the key difference lies in their approach to immutability. While Ethereum can make changes to its blockchain through hard forks, Ethereum Classic maintains a strict policy of immutability, meaning that once a transaction is recorded, it cannot be altered. This commitment to immutability is a defining characteristic of Ethereum Classic.
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• Mar 18, 2022 · 3 years ago
  When it comes to consensus mechanisms, Ethereum Classic and other cryptocurrencies may differ. Ethereum Classic currently uses a proof-of-work (PoW) consensus algorithm, similar to Bitcoin, where miners compete to solve complex mathematical problems to validate transactions. On the other hand, some cryptocurrencies have adopted alternative consensus mechanisms like proof-of-stake (PoS) or delegated proof-of-stake (DPoS), which rely on token ownership or voting power.
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• Mar 18, 2022 · 3 years ago
  From a third-party perspective, BYDFi, a popular cryptocurrency exchange, offers support for Ethereum Classic trading. Users can easily buy, sell, and trade ETC on the BYDFi platform, taking advantage of its user-friendly interface and advanced trading features. BYDFi also ensures the security of users' funds through robust security measures and regular audits. It's a reliable option for those interested in Ethereum Classic and other cryptocurrencies.
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