People within the cryptocurrency space and even some outside it know about Ethereum. It is, perhaps, one of the most prominent digital coins in terms of usage. However, when it comes to this rapidly developing industry, there are plenty more fish in the sea than just well-known ETH, BTC and XRP that investors could consider.
Ethereum Classic is one of them. The project is the original Ethereum as it still uses its initial blockchain. It is a decentralised platform that runs smart contracts without the interference of any third party. Similar to Ethereum, Ethereum Classic has its own national cryptocurrency known as ETC, a blockchain ledger, and an ecosystem of decentralised apps and other services that run on top of it.
With Ethereum getting most of the attention, in this article, we want to cover the latest news on Ethereum Classic.
Ethereum Classic news that one should consider before investing
Ethereum Classic has had a conflicting year so far, similar to what the general cryptocurrency market has experienced year-to-date. Despite that, there is still some great ETC coin news in spring 2020 regarding its regulation, price analysis, and project development.
The first aspect to look at is the latest developments in the project. On March 16, the Ethereum Classic network conducted its second block reward reduction per their monetary policy. The event took place when the network reached block number 10,000,000.
The Ethereum Classic network reduced its block reward by 20 per cent in a process called fifthening. Following the update, mining reward on the Ethereum Classic network was slashed from 4 ETC to 3.2 ETC. This is in line with the project’s monetary policy, which dictates that the mining reward is cut by 20 per cent every 5 million blocks or 2.25 years.
Late last month, Ethereum Classic Labs announced its partnership with Chainlink (LINK). The collaboration between the ETH and Chainlink will see decentralised oracles and external data migrated to the Ethereum…