The cryptocurrency market has been rife with comparisons of several cryptocurrencies and their use cases. This has been restricted to not just top coins, but also ones with lower ranks. Recently, Donald McIntyre, an Ethereum Classic [ETC] proponent and ‘Trust minimization maximalist,’ stated that ETC is philosophically the same as Bitcoin and technically the same as Ethereum.
The article said,
“The alignment with Bitcoin philosophy is hence, that ETC is a blockchain that prioritizes the integrity of the blockchain above any other interests. By “integrity” it is meant the immutability of the state, which contains the ledger with property and agreements.”
McIntyre added that ETC was a “hybrid” between Bitcoin’s philosophy and Ethereum’s technology, making ETC “incredibly unique, global, cross border and permissionless.” Some other features quoted by the ETC advocate was that the cryptocurrency was Turing complete, immutability focused and was based on the famous Proof-of-Work [PoW] system.
The opinion of a lot of Bitcoin proponents has shifted from the crypto being a ‘method of transaction’ to it being a ‘store of value.’ This ideology was also shared by Blockstream CSO Jimmy Song who said,
“So, I think Bitcoin can be everything. It’s just what is it best for at the base layer, right now it’s a store of value and wealth transfer. So, you can move hundreds of million dollars for very cheap relatively; right like, 200 million for five dollars or for a dollar. that’s possible with Bitcoin. so it’s still gonna be functioning like that at the base.”
Ethereum’s technology has also been the talk of the town with a lot of mainstream companies tapping into its inherent functions. Ernst and Young had also taken the crypto-plunge recently by choosing ETH to launch their own zero-knowledge proof technology.
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