What are the benefits of using Ethereum Classic?

Proponents cited a few big advantages. First, the energy impact of the move will significantly reduce the blockchain’s energy consumption by as much as 99.95% from the previous proof-of-work consensus mechanism. That means Ethereum Classic miners remain huge energy consumers.

What is the difference between Ethereum and Ethereum Classic?

Ethereum and Ethereum Classic were built on the same blockchain, and they each offer features like smart contracts. But Ethereum Classic is dedicated to immutability — arguing that the code is law and should never be reversed — while Ethereum has garnered more trust.

What is the market position of Ethereum Classic?

As of November 9, 2022 – Ethereum Classic holds the #23 position by market cap with $2.81 billion and a price of $20.63 . These numbers show clearly that Ethereum has fared far better over time than Ethereum Classic. Until recently, we can say that Ethereum Classic and Ethereum are just as fast in terms of performance.

What are the limitations of Ethereum Classic?

One of the chief concerns of Ethereum Classic is the potential limitations when it comes to scalability. Typically, the network can handle 15 transactions per second, but that number is far less than payment networks such as Visa, which handles more than one thousand transactions per second.