Different platforms have varying daily transaction amounts and some surmise that BCH, Dash, and LTC are top contenders. One of the platforms, Dash, transactions in many countries and is recognized for its popularity. Thus, it may come as a surprise that these are not the platforms with the highest exchange amount – in fat, Ethereum Classic is at the top of the list.
Ethereum Classic (ETC) transacts a daily average of 50K, while the rest range anywhere from 2k to 22K. Ethereum’s success may be showing in its transaction amount, but many are hoping that it will soon show in the price as well.
Ethereum classic is based on the foundation of code is law – no matter what occurs on the platform, there is an element of certainty and it leads to scalability and its possibility of it being adopted as a currency. Anthony Lusardi of Ethereum Classic recently stated,
“Social scaling is hard, it’s harder than tech scaling in many respects, and the only way to properly scale socially is to agree on a setoff rules. Violating these rules is not just a disagreement, it is a threat to the underlying core of what makes Cryptocurrency work. We need to agree on predetermined rules because, at its basic level, Cryptocurrency is designed so that as long as you agree to these rules, you get . . .”
(1) a known monetary supply and no printing of money; (2) counterfeit prevention – as in, no one can make copies of funds; and (3) freedom to transacts whenever and wherever one wants and where banks cannot freeze one’s funds.
ETC has also been experiencing a higher level of demand in relations to the Dapps ecosystem and as a result, transaction volume has seen a boost as well. Dapps launching on ETC has seen a boost as well due to compatibility, more awareness, and immutability. The long-term immutability will have a significant role in ETC blockchain’s growth because it provider users with leverage with Dapps.
Overall, the higher amount of transaction volume on the ETC blockchain show one that is growing, evolving, and whose price may see a boost as well.