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18/5000 Jiǎnchǎn jiāng zhì,ETC huò jiāng chéngwéi xīn de tóuzī bào diǎn Production cuts will come,

date: 2017-12-26
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Although the recent ETH cats incidents and bitcoin inflation have drawn too much community attention, it seems that ETC is more like a group of dark horses and has been developing and emanating from a low profile. On July 20, 2016, although the ETH and ETC codes were almost the same after a hard fork occurred, monetary policy evolved in two different directions. There is currently no upper limit for ETH, at a sustained phase of issuance. The ETC has returned to the tradition of the Austrian School of Economics, in accordance with the new Bitcoin currency policy, the total issue will not exceed 230 million.


ETC cut plan


On November 13, the ETC Global Summit held in Hong Kong reiterated the ETC digital asset monetary policy and economic model. The ETC will adopt the ECIP-1017 asset policy similar to Bitcoin. According to ECIP-1017, ETC will cut production by 20% on Dec. 12, and will cut production by 20% in every five million blocks. This monetary policy will allow the total amount of ETC will gradually decline, eventually the total remained at 2.1-2.2 million, not more than 230 million. This will effectively stop the ETC inflation.


Cutback boost ETC prices return


The release of the ETC cut-off policy is a positive move for the ETC market, driving the soaring price of ETC. Since the separation of ETC and ETH, the price of ETC has been kept at a low level. The record before ETC broke up to a maximum of 34 U.S. dollars. Prior to this, the price has been hovering at 9-12 US dollars, by the news, ETC in a short period of time rose to more than 30 US dollars high, the price turned nearly 300%. This is a very big breakthrough over the first two dollars of the ETC. The ETH in the same period also began to gradually pick up in the near future, but the price rose only about 60%.


Cut production to further promote the ETC prices


The current ETH issue is still in the additional phase, ETC began to cut. There is an old saying in China that "things are sparse and precious", and the total amount of digital assets issued is limited to the rise of its value. With the expansion of the market, more and more people, more and more real enterprises, more and more good products into this area, will inevitably lead to the appreciation of the digital assets. Bitcoin is a very good example. ETH uses preconceived advantages to suppress ETC prices in the near term. However, in the long run, as the supply of ETH is unlimited, as time goes on, a large number of ETH will inevitably lead to market oversupply. Investors will inevitably Choose rational, ETH preconceived advantage will gradually subside, the market will inevitably return to rationality, ETC's value will gradually be recognized by the market and users. In terms of price, Barry Silbert, the big money guy in the digital currency industry, also hinted on Twitter that ETC prices will outpace Ethereum. There are indications that it is just a matter of time before ETC overtakes ETH.


ETC network more secure


The ETC network is also much safer than ETH. Because ETC developers say they will not adopt POS mechanisms like ETH, they still use POW consensus algorithms. The core of the blockchain is the consensus mechanism. The POW mechanism based on workload proof has been proved to be the best system in the market at present. The top 10 most digital cryptocurrencies are based on the POW mechanism. For POW, the miners can choose to dig or not dig a certain mine at any time, but for the POS, the latter completely lost the opportunity to participate. ETC POW mechanism will attract more miners to join, so that any dynamic network access nodes are profitable, make the network more secure.


Internet of Things will become the new ETC explosion point


Currently, the ETC has been applied to the Internet of Things for some time and is providing impetus to the Internet of Things in a globalized development. As ETC gets more and more IoT device data traffic, the value of ETC will continue to rise. As Grayscale, sponsor of ETC Investment Trust, wrote in a paper published in August this year: "We believe the ETC will someday be the basis for a globalized, secure and decentralized Internet of Things (IoT) ETC will receive 10% of IoT device data traffic in 2025, and the price per ETC will be close to $ 150. "In addition, compared with the more recent IOTA, ETC is unmatched in the field of Internet of Things Have stronger application support ability. In terms of price, the price of IOTA is an irrational high due to over-centralization. In the meantime, various loopholes have recently been uncovered. ETC as a veteran to decentralized digital currency prices will certainly exceed IOTA in the near future.


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