Ethereum Classic On Its Way To FinanceX
The speculation is over! FinanceX introduces Ethereum Classic to the platform October 16!
Launching in late-August with BTC, BCH, ETH, and LTC, the FinanceX exchange has established itself as one of the biggest exchanges in Vietnam in just seven short weeks focusing on providing customers with fiat-to-coin trading pairs.
Customers are enjoying having direct access to all coins with their local currency. The introduction of ETC is no different. Traders can purchase ETC directly using their fiat!
Register now to experience the user-friendly FinanceX exchange and start trading ETC!
ETC is the first extra addition to the exchange since launch with so many more to come. This is just the beginning. FinanceX is committed to adding new coins every two months.
What is Ethereum Classic?
Ethereum Classic is the original ethereum with a few minor changes.
One of the most notable ethereum projects, The DAO (distributed autonomous organization), decided to hold a voting-style investment scheme. Investors received voting tokens in order to vote on how the funds should be dispersed.
At around the time of voting, the system was compromised. An individual or group managed to withdraw funds to another DAO under their control. This action was valid under the ethereum contract and was able to be successfully carried out in the code.
Understandably, investors were extremely upset. A vote was held and the majority of participants agreed a change to ethereum’s code to get the funds back was necessary.
The birth of ETC
Not everyone agreed that this was the correct course of action.
Some developers argued that, to be trusted, a blockchain cannot be altered. The passionate minority decided to stick with a replica of the original blockchain where the taken funds were never returned.
The majority? They switched to a new blockchain on which their lost funds were transferred to. This company is still known as Ethereum. Ethereum Classic maintain that once transactions are made they shouldn’t be reversed.
- Limited supply — 230 million tokens: no quantitative easing here!
- Immutable: the reason it exists at all was the refusal of a small group of people to accept a change in the blockchain.
- Censorship resistant: that’s the decentralized element
- Strong team: experience with successful projects before ethereum
- Moral value: stuck to the reasons blockchain was created in the first place
For more information on the FinanceX project:
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