Trust or No Trust, Traders Are Still Unsure About Ethereum Classic

Trust or No Trust, Traders Are Still Unsure About Ethereum Classic

The possible creation of a new investment vehicle is bringing wider attention to the lesser-known digital currency, ether classic. Teased as a forthcoming offering from Digital Currency Group (DCG) subsidiary Grayscale Investments, the investment vehicle (tentatively named the Ethereum (ETC) Investment Trust) would be a first-of-its-kind product offering exposure to the blockchain-based asset. Started as a controversial offshoot of ethereum, a blockchain platform for applications launched in 2014, ethereum classic has strived for legitimacy since it was created last summer, often in the face of criticisms that it lacks the promise of its originating project. In interview, however, analysts suggested that the possible creation of the vehicle, if achieved, would...

Proposed 'Ethereum' Investment Vehicle Sparks Trademark Controversy

Proposed 'Ethereum' Investment Vehicle Sparks Trademark Controversy

The non-profit Ethereum Foundation that holds the trademark for the name ‘ethereum’ said today it is “addressing” New York-based Grayscale Investments’ newly revealed Ethereum (ETC) Investment Trust proposal. A subsidiary of Digital Currency Group (DCG), Grayscale plans for the investment vehicle to provide a means for accredited investors to gain exposure to a publicly traded digital asset called ethereum classic (ETC) by creating an open-ended titled security. The problem: While there’s one trademark, there are two versions of cryptocurrency network bearing a variation of the name, one of which is not the so-called “official” version of the software. Following a hard fork last June that resulted from the infamous...

Ethereum Classic Freezes 'Difficulty Bomb' With 'Diehard' Fork

Ethereum classic just forked again. Though hard forking can be a particularly contentious way of upgrading open blockchains (particularly since it can split the network if not all miners decide to update), the developers behind the project are calling the effort a success thus far. Ethereum classic developer Arvicco noted on social media that the mining hashrate is stable on the network and transactions are being transmitted normally. Named “Diehard” after the 1980s action film, the fork packages together a few changes, including a tweak to address denial-of-service attacks that slowed down ethereum classic and its sister blockchain, ethereum, last fall. Yet it’s one of the other upgrades included in the release that could further...

Classic and the DAO: What Drove Ether Prices in 2016

Classic and the DAO: What Drove Ether Prices in 2016

The past 12 months marked a dynamic period for the price of ether (ETH), the cryptocurrency of the ethereum network. Ether markets experienced sharp price fluctuations over the course of 2016. The digital currency surged more than 2,000% within the first six months, rising from an opening price of $0.93 to roughly $21.50 by mid-June before losing much of these gains during the latter part of the year. At press time, ETH was trading at $7.27, a figure which itself represents a more than 700% year-to-date (YTD) increase from January. The digital currency experienced these notable gains and losses as ethereum – a blockchain-based platform for the development of decentralized applications and smart contracts – encountered numerous twists and turns on the development...

Ethereum Classic Price Surges By Over 30%

Ethereum Classic Price Surges By Over 30%

Markets Weekly is a weekly column analyzing price movements in the global blockchain token markets. This edition looks at the week from 10th through 16th December. Ether classic (ETC) made a strident comeback this week. As the nascent digital currency surged in value, its hashrate also rose and its supporting community announced a new monetary policy proposal. Zooming in on the figures, ETC prices rose as much as 37% during the week, climbing to a high of $1.11 from their opening price of $0.81, CoinMarketCap figures reveal. Market observers saw the week as a positive one for the project, which splintered off in the wake of the collapse of The DAO. “ETC is being embraced by the community as a superior and decentralized alternative to ETH,” said Petar...