Ethereum Classic (CRYPTO: ETC) is the rebranded legacy chain of the original Ethereum (CRYPTO: ETH) that emerged after a contentious hard fork dating back to 2016.
The Token: ETC came into being alongside ETH on July 20, 2016, and its main function revolves around smart contracts.
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While ETH is heading towards a proof-of-stake model, ETC is set to retain a proof-of-work mechanism.
Ethereum Classic has a fixed supply capped at 210 million ETC. Digital Currency Group CEO Barry Silbert is a well-known proponent of ETC.
ETC is the twenty-ninth largest cryptocurrency by market capitalization. As per CoinMarketCap data, it has a market capitalization of over $8 billion.
The cryptocurrency touched an all-time high of $176.16 in May. At press time it traded 65.3% below that level at $60.78. Over 24 hours, it has spiked 10.40%.
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See Also: Ethereum Vs Ethereum Classic
The Investment: If you invested $1,000 on July 24, 2016, around the time Ethereum and Ethereum Classic parted ways, you would receive nearly 1076.66 ETC as each ETC was valued at $0.93.
Those tokens would have appreciated a whopping 6443.93% at press time and be worth $65,439.28 approximately.
Had you chosen to invest in the Vitalik Buterin-backed ETH instead, you would have received 78.43 ETH, as ETH traded at $12.75.
Today your ETH investment would be worth $378,196.08 given ETH traded 2.04% higher over 24 hours at $4,822.00. This translates into a gain of 37719.61%.
Read Next: Why Is Ethereum Classic Shooting Higher Today?
Photo: Courtesy of Hamed3289 via Wikimedia
