Ethereum was created back in 2014 by Vitalik Buterin and was released in 2015. So, after the digital asset was launched then came a time when smart contracts were highly regarded. At that time an idea hung in someone’s mind to create something new which was later known as Decentralized Autonomous Organization (DAO). This was a project which required a ton of dollar, well, even more than that. But, in about 30 days about $150 million dollars were collected by ETC with the help of the cryptocurrency community. A time when everyone was thrilled with that DAO project. Guess what happened? Just days after the DAO had finished its investment movement, it was hacked, What? Yes! Almost one-third of the amount was hacked from the DAO wallet. There was when Ethereum split happened and Ethereum Classic (ETC) came into being.
Since then the users had a lot of misconception between the of the different crypto’s ETH and ETC. Should Ethereum Classic change or do not change the name of the digital asset? Well, we can have a look at both of the cases.
Let us have look at NO. Keeping in view some of the factors Ethereum Classic (ETC) should not change the branding of the digital asset. Well, ETC is the original and an identity of this network and so far, it has continued to gain fame among the cryptocurrency users. After the hack, Ethereum Classic (ETC) rebuffed the hard fork and the digital asset trusted in the basics of immutability and noninterventionism. So, keeping these aspects in view Ethereum Classic should cling to the same name and same ticker.
Ethereum Classic (ETC) can have a review on many other aspects to change the name of the brand, while also keeping the brand. At the moment, different users refer Ethereum Classic in payments. Like, someone says I want to send you some ether’s. This Ether is a separate identity of Ethereum (ETH). We have seen some of the well familiar users of cryptocurrency getting confused in this case. Ethereum Classic needs to think on this issue because branding is a very first impression to your client. And for new users, it is pretty difficult to recognize between ETH and ETC. This is up to ETC, what they do regarding their branding, but the for sure want to have a look at it.
Havening A Look at Market
The market has been shaky all this year but it is going to stabilize in coming time. Ethereum Classic (ETC) still has a way to go and prove itself as a worthy crypto. It currently stands at 17th spot and if separates itself from the Ethereum ecosystem it will be a new beginning for the digital asset, because Ethereum (ETH) has not sparked and the analysts do not want to have a go on ETH, maybe they have not done much with their technology.
At the time of writing, Ethereum Classic (ETC) was trading with a price of $4.95 USD having a market cap of $526 million. The trading volume was $163 million and in the last 24 hours ETC had surged up to 2%. We should be positive about the digital asset as the future could bring a good time for the digital asset.