If you have been reading the Ethereum news, you probably know who Vitalik Buterin is and his story. Basically, this young man from Russia had an idea to change the real economic system with blockchain a couple of years ago. His plan was the Ethereum Plan unveiled at the Miami Bitcoin conference, to be later funded 31,000 bitcoins.
The next year, Vitalik launched Ethereum and proceeded with Frontier, Ethereum’s first live release with Ether (ETH) publicly traded on the exchanges in the world at large. So far, the Ethereum ICO has grown a lot. On June 17th, ETH grew to $20 and currently, it is sitting at more than $730.
One loss made Vitalik recover and replace the hacked blocks with new ones, creating the Ethereum Classic – the first successor of Ethereum that split the Ethereum in two parts. And while many people believe that this is only a promotional thing, Vitalik stated on multiple occasions that Ethereum Classic is a virtual currency that needs special interest.
Buterin wrote:
“We recognize that the ethereum code can be used to instantiate other blockchains with the same consensus rules, including testnets, consortium and private chains, clones and spin-offs, and have never been opposed to such instantiations.”
As you can see, Buterin encourages Ethereum Classic as a ‘needed part’ that would execute additional hard forks that would guard the blockchain from replay attacks by moving classic ethers to new accounts. This may prevent hacking – which is why Buterin supports Ethereum Classic and advises everyone to do the same.
Currently, Ethereum Classic (ETC) is at $28.80 after a series of ups and downs
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