Many investors have been looking down upon Ethereum Classic (ETC) but the perception is changing and confidence is creeping back to the platform one of the key highlights is the growing developer team on the platform and this is set to sour it to new heights. The outfit is capitalizing on the loyal developers who are keen on seeing the project succeed and prove sceptics wrong.
The stride the platform is making has seen the price stabilize which is a clear indication of ETC warming up for major breakout by the end of the quarter. One of the ecosystems selling points behind the platform is its edge over Bitcoin; it is taking its market leadership in dApps and IoT to the next level.
Ethereum Classic (ETC) Turning to a Full IoT Blockchain
ETC market penetration has been slow due to lack of a clear cut product offering but that is soon changing when it becomes fully IoT compatible on November 30. This will accelerate the rate of developer onboarding, an area where the coin has been underperforming.
The ETC ecosystem runs on proof-of-work and this makes it the only Turning Complete system in the market today. Secondly, its coin supply is limited which gives the coin a head start against Ethereum whose price can be determined by the number of coins “printed” and the eventual devaluation of ETH.
Growing Developer Interest on Ethereum Classic
The current ETC competitors , ETH and EOS appears to be ahead since they has had a wide range of dApps build on them and have been recognized world over and their large pools of developers who make decisions on critical development issues. Classic is headed to building a decision making team that will create room for fast responses.
With a defined dApp and IoT functions, Classic will be the beneficiary of an anticipated mass exodus of dApp enthusiasts given the problems its major competitor is facing especially on scalability and the persistent network clog ups. EOS has had its problems that saw the founder, Dan Larimer quit Steemit and Bitshares to create shiner outfits that will remain relevant and competitive in the market.
Classic is becoming a strong force in the IoT niche and this is not a hyped up fact. The platform is immutable and decentralized and these are the basic qualities of an IoT supporting outfit. There is no central authority and no participant has the ability to manipulate the code.
Ethereum Classic offers developers enough freedom to build on the ecosystem and integrate their apps to other compatible systems unlike EOS and ETH. This is the freedom and flexibility that the Bitcoin creator had in mind. Once these are embraced, the value of the coin should come from its demand not only from the platform itself but linked systems as well.
Ethereum Classic Heading for a Better Future
If the Ethereum Classic IoT compatibility on November 30 is achieved, it will become the best IoT and dApp hub for the future. Transaction speeds and fees are lower compared to those of the competition and the developer flexibility will see increased adoption and investor influx.
The ETC price is still in the red and has managed to hold on slightly above the $10 mark after slipping 1.42% against green buck to trade at $10.79. The current placeholder price is set to gain momentum in the run-up to November where ETC is set to become the “new bitcoin with IoT” and dApps features.