When talking about money, it is important to remember the function and purpose of money.

Money should serve these functions: as a unit of account, a store of value, and a medium of exchange.

Sound money should have these properties:

  • Divisibility
  • Transferability
  • Fungibility
  • Durability
  • Portability
  • Scarcity

Here is why ETC is the most sound money.

Like Bitcoin, Ethereum Classic has a fixed emission schedule.

ETC is the best, major Smart Contract platform with a known future supply.

ETC has all the properties of Sound Money. It’s decentralized, uncensorable, divisible, transferable, fungible, durable and scarce. The cornerstone of a blockchain’s sound monetary policy is scarcity via a known future supply. Just like Bitcoin, but unlike Ethereumβ„’, Classic has a fixed emission curve. A fixed amount of ETC created as a block reward for miners, which means that holders of ETC can accurately calculate the total amount of ETC in existence at any point in time.

https://ethereumclassic.org/why-classic/sound-money#known-future-supply

Here’s a table comparing BTC, ETC, and ETH. Note there is bias here.

Ethereum FoundationBitcoinEthereum Classic
Known Supply😍😍BTC and ETC have a fixed emission curve, as shown above. ETH has an unknown future supply that can be easily changed at any time.
Proof of Work😍😍ETH is switching to Proof of Stake in the near future. ETC is committed to remaining on the more secure Proof of Work indefinitely.
Turing Complete😍😍ETH and ETC use the same underlying EVM to enable Smart Contracts; any contract deployed on ETH will also be deployable on ETC.
No Premine😍😍About 70m ETH was pre-allocated to investors and developers. ETC and BTC distributions were not pre-mined.
No Foundation😍😍BTC and ETC have no central leadership or foundation to direct development, making them more decentralized and resilient.
No Irregular State😍😍ETC exists in response to ETH’s TheDAO bailout hardfork. This “irregular state change” is a permanent reminder that your ETH can be confiscated.
Layer 1 Scalability😑ETH’s attempt to scale Layer 1 necessarily creates state bloat, security and availability tradeoffs for only a meager increase in throughput.
Layer 2 Scalability😍😍😍It is possible to scale to a greater extent without sacrificing security by using Layer 2 solutions such as Lighting, State Channels, Optimistic Rollup, etc.
Table from: https://etcis.money/

Our opinion is that it is better to be a secure Layer 1 rather than a massively scalable Layer 1.

Ethereum Classic’s fixed emission curve was introduced by ECIP-1017. The emission schedule, also known as 5M20, reduces the block reward by 20% every 5,000,000 blocks.

Socially, this block reward reduction event has taken the moniker of “The Fifthening.”

fixed emissions curve means that the rate of inflation is predictable, and in the case of ETC, is continually decreasing over time. As the value of the network increases, the value of all ETC increases predictably according to this rate, rather than some unknown future rate that could be much lower. ETC’s commitment to a fixed emission curve is enshrined into both the protocol and its social layer, and thanks to Proof of Work, any hard fork that attempts to manipulate inflation will result in a permanent chain split, massively disincentivizing such a change to the point of it being extremely unlikely to be contemplated, let alone be attempted, let alone be successful.

In extreme cases, chains with a policy of maintaining an unknown future supply can lead to (LUNA like) hyperinflation, which is an ever-present dark cloud that hangs over all holders of these currencies. Although these projects may not need to turn on the inflation tap today, it may become “necessary” for whatever reason in the future. Be it development funding issues or the race to the bottom of competing with other chains’ Proof of Stake yields, without the precedent of a fixed emission curve, the central organizing committee of such projects can easily conjure up any number of justifications for appropriating value away from holders as the only way for the project to continue.

https://ethereumclassic.org/why-classic/sound-money#known-future-supply

Mining ETC

Mining Ethereum Classic is the only way to generate ETC from the blockchain. There is no staking, or plans for staking.

ETC is mineable with consumer grade GPUs and professional ASIC servers. We believe this balance between the two is perfect for a decentralized currency. While ASIC resistance is important, hardforking the chain every 6 months is not a sustainable method.

Join our ETC mining pool, no registration, anonymous ETC mining, to start earning ETC today!

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