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Author: Donald McIntyre Source: Ethereum Classic official website translation: Shan Oba, Bitchain Vision Realm
In previous articles, we compared the workload (POW) and equity certificate (POS) from the perspective of anti -review and its regulatory status as a commodity or securities.
This article will apply these ideas to Ethereum Classics (ETC) to explain why it is valuable.
In view of the history and current positioning of Ethereum and Ethereum, and the fact that ETC looks like a secondary chain, we will explain its advantages and why it should become one of the largest blockchain in the world.
ETC’s core
Many people in the industry ask themselves, why is ETC valuable?
The core reason is that ETC is a POW blockchain with a fixed monetary policy and supports smart contracts in a highly secure environment.
The combination of this attribute makes ETC a programmable digital gold.
The workload is the only decentralized design that really keeps the blockchain without licenses.Over time, this becomes more obvious, and we see the review system and instability in other systems.
With a fixed monetary policy with upper limit, combined with POW makes ETC a hard currency, and hard currency makes it a digital gold like Bitcoin (BTC).
Intelligent contracts are a component that increases programming, making ETC unique.
ETC’s safe internal environment
The above attributes make ETC very attractive because applications can exist in its highly secure environment, rather than existing outside the outside that is unsafe.
For example, Bitcoin has solutions such as RSK and BITVM to add smart contracts to its system, but they are external devices and designs, and they can never achieve the security of decentralized programs in their POW environment.
In ETC, the account and balance of the ledger support to add smart contracts, so ETC becomes a programmable currency, also known as “programmable digital gold”.
ETC’s positioning
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In terms of positioning, ETC is POW and has a smart contract. This is a very valuable positioning, because after the Ethereum is transferred to equity certificate, ETC is still the world’s largest POW programmable blockchain, that is, digital gold.
Excellent systems such as Bitcoin, DOGE and Litecoin are POW blockchain, but only the classification accounts containing accounts and balances are supported. Therefore, at most in its POW environment is to transfer the coins from one address to another.
POS smart contract networks such as Ethereum, BNB Smart Chain, Cardano, Solana, etc. cannot be comparable to POW’s security in ETC.This positions them as a programmable blockchain, but they cannot become digital gold like ETC.They are better described as legal currencies of programmable communities.
Why can’t the market see the value of Ethereum classic
The above reasons are why ETC has such a large value, but the next question is, why can’t the market see this?
The answer is, because the POS project funded by the Ethereum Foundation and ICO still has a lot of hype and funds.
These organizations and communities have the ability to continue to mislead the market, saying that POS is safer, scalability, and more innovative. It can save trees and all these lies.
Unfortunately, this is the operation of the world today.Morality and truth are the last, but opportunism and false information are first.
Time will prove which blockchain is really decentralized
However, in the blockchain industry, the truth will eventually surface, because people will use their wealth and basic rights to pay the cost of centralization.
At that time, ETC may be more widely recognized.
Over time, POW+Digital Gold+Programming combination has great value, and POS is centralized, so the ranking will be adjusted accordingly.
To some extent, the POS and authoritative proof (POA) systems are traps.People rush to them, invest in their savings and use their DAPP, but when they are locked, the government may occupy these networks, and then people will feel betrayal.
Only in a system like ETC can we not abide by the upcoming technical tyranny.
Applications in Ethereum classics are the safest in the world
Therefore, since ETC is Bitcoin, it is programmable, then the content we wrote in the 16th class of this course is affirmed;
“总而言之，以太坊经典是世界上最安全的应用程序将存在的环境，因为它是工作量证明区块链，因此真正去中心化；它有固定的货币政策，因此是健全的货币；而且它It is programmable, so it is more common and safer than other alternatives.
In addition to these quality, ETC is a completely replicated blockchain, which increases its security; combined, reducing risk and settlement costs; and the world’s largest combination design!
These attributes in the same integrated system provide the highest level of decentralization, thereby achieving trust to minimize, thereby providing security for any application of the custody.”
