Home Ethereum Classic Lab's ETC Labs Founder James Wo Believes Ethereum Classic Will Soon Hit $1K

ETC Labs Founder James Wo Believes Ethereum Classic Will Soon Hit $1K

  • The Founder of Digital Finance Group, James Wo recently shared on Twitter that Ethereum Classic will hit $1000 soon.
  • On May 31, ETC has performed its scheduled Phoenix hard fork. This included the earlier features of Ethereum’s Istanbul fork.
  • Besides this, the ETC’s Phoneix hard fork was ended at block 10,500,839 and is exclusive in the series of updates.

The Founder of ETC labs, James Wo recently shared on Twitter that Ethereum Classic will hit $1000 soon. Woo shared this statement in response to the tweet by the founder of Defi NYC, Cole Kennelly, who said $ETH would hit 10k this decade.

ETC over Phoenix hard fork

When Ethereum blockchain was hard-forked to resolve the hack from the infamous DAO error, it split into Ethereum (ETH) and Ethereum Classic (ETC). However, at press time, the ETC is continued to keep up with Ethereum that is supported by Vitalik Buterin.

The ETC has seen a massive increase this year with its matrics such a transaction volume and active addresses are hitting up.

On May 31, ETC has performed its scheduled Phoenix hard fork. This included the earlier features of  Ethereum’s  Istanbul fork.  Moreover, this upgrade means the two siblings ETH, and ETC is sharing similar protocols virtually.

Besides this, the ETC’s Phoneix hard fork was ended at block 10,500,839 and is exclusive in the series of updates. It offers ETC to have the same protocol as ETH virtually.

ETC and Ethereum on protocol parity

According to the Ethereum developer Afri Schoedon, the insertion of Istanbul facilities means that the two networks are working on a similar protocol.

ETC presented as a collateral structure for Fantom-based decentralized finance that works similarly as Ether (ETH) over Maker DAO.

While attaining 100% compatibility will permit Eth developers to port their applications directly to its sister blockchain.

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Priyanka Kulkarni
Priyanka Kulkarni, post-graduated in Business Administration holds worthy experience in market research and investment banking. She is passionate to flaunt her perception towards cryptocurrencies.

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