Ethereum Classic (ETC) has played second fiddle to Ethereum (ETC) for some time now. That’s mainly because Ethereum (ETH) has a huge number of Dapps running on it. However, this could be about to change. Recently, the Ethereum Classic team announced the launch of the Emerald software development kit. It is a wholesome package for anyone looking to develop Dapps on the Ethereum Classic blockchain. With this kit ready, Ethereum Classic (ETC) is poised to see a huge number of Dapps developers’ crossing over for several reasons.
The first one is the immutable nature of the Ethereum Classic (ETC) blockchain. Immutability is not just some cliché, it is something that will play a significant role in Dapps development going into the future. That’s because most industries require immutability for purposes of data integrity and smooth functionality. In essence, smart contracts that are developed with immutability as part of the core aspect of the contract will be more favorable. On this basis, Ethereum Classic (ETC) could see an explosion of Dapps especially those aimed at industries such as finance, artificial intelligence among other critical sectors where Dapps are becoming an integral part of the infrastructure.
On top of that, the Emerald software kit is designed to make Dapps development easier. This could make it more attractive to new Dapps developers, and could see an explosion of Dapps developers to the ETC network. Such a growth in developer numbers is given weight by the fact that it is cheaper to develop on ETC than on the Ethereum blockchain. It’s just logical that it would be more attractive to create Dapps on ETC since in most respects, it’s pretty much similar to Ethereum, only more secure.
Once Dapps start to increase on the ETC network, its long-term viability as an investment will grow too. That’s because as a Dapps platform, its greatest value comes from the number of Dapps launching on the network. It’s for the same reason that Ethereum Classic (ETC) grew in value to a high of $1500. Similarly, if there is an exponential growth in the number of Dapps on Classic (ETC), then it’s potential to make similar gains in value would radically increase in the future. Its long-term prospects of rivaling Ethereum (ETH) are good.
But even in the short-term, Ethereum Classic (ETC) could give gains on the strength of this and other recent developments. For instance, after the Emerald software kit was announced, the value of ETC surged to a high of $11.55, before stabilizing in a narrow range between $11.03 and $11.30. Though it’s not a significant price change, it goes to show that investors do have faith in the growth potential of the Emerald software kit to open up the Ethereum Classic (ETC) Dapps ecosystem going into the long-run.
Looking at the long-term charts, there are signs of a potential upside growth. In the weekly charts, it is trading along a key support level at $10.5 – $11. The fact that this level has held amidst all the recent market drops could be an indicator that the bear run could be coming to an end. As such a couple of powerful Dapps at this point coupled with bullish sentiment in the entire crypto market could see the value of Ethereum Classic (ETC) retest its all-time highs above $30. The fact that it achieved these highs without much going on could see it test new highs above $50 in the long-term. It’s one of the cryptos to watch going into the long-run. Its recent developments combined with their recent market potential will see its value in this market grow in the long-run.