Ethereum Classic Reaffirms Importance of Decentralization, as ETC is on the Rise

Ethereum Classic (ETC) is one of the best digital assets currently available in the market. Backed by a strong and capable team, the future for ETC looks bright and promising.

ETC has been of the most popular and preferable cryptocurrency in the market and has managed to hold its ground at a time when several others are tumbling down. One of the reasons for this is that it has been operating under complete decentralization. Many other cryptocurrencies, which are quite popular and operate on the top-level blockchain, have been mostly decentralized, though not completely.

Ethereum Classic, on the other hand, believed that if centralization prevails, the chances of cyber attacks and security threats increase substantially. It believes that only absolute decentralization can help a currency to achieve the full potential of the blockchain on which it is based. Complete decentralization ensures Ethereum Classic to be safe, claims the team of ETC. Security is one of the primary USPs of cryptocurrencies, and decentralization has helped them achieve it.

However, the security of ETC still remains questionable due to certain incidents in the recent past. Not long ago, on January 7, 2019, the Coinbase security team identified a major 51 percent cyber attack on Ethereum Classic, which made the junior Ethereum lose coins worth more than $1 million. This meant that the hackers had spent the same coins twice by taking over the majority of the computational power of the Ethereum Classic.

Reference: https://www.cryptonewsz.com/ethereum-classic-reaffirms-importance-of-decentralization-as-etc-is-on-the-rise/10507/

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