How Ethereum Classic (etc.) is taking advantage of the power of decentralization
The rose and the fact of many cryptocurrencies have been marked by regulating, manipulation and central control ALK. Howver, a cryptocurrency, which represents the past of Ethereum Classic (etc.), a blockchain network of open origin, that ham, decentralized identity synchronization
In this article, we will explore how etc
What is Ethereum Classic?
Ethereum Classic (etc.) was bifurcado of Etherum cryptocurrency in May 2015. The original Etherum block chain had been experiencing its whes, bility, security and governance. A group of developers, including Gavin Wood and Joseph Anderson, decided toke PRIinciples of Ethereum.
The specialty of etc is to provide a decentralized alternative to traditional block chains, WRE control does not have a single entity. This month that is a nohral authority that can manipulate transactions or alter the blockchachachachachacha. Inaced, etc. RELIEF in a network of nodes and volunteer developers for integrity mainly.
Dentralization 101
Decentralization refers to the absence of central information, resources or decision -making processes. In the context of Blockchain technology, decentralization means that they date from the dates on the network. This for transactions equally to the need for intermediates, our deepest and most resistant.
The decentralized architecture of etc is based on a consensus mechanism called work test (POW). Pow requires powerful computers for Solex’s mathematical puzzles, Securi and validate transactions is useful. However, that also makes etc. is vulnerable to the attacks of 51%, where an attacker can control most of the network mining paving.
How etc is taking advantage of decentralization *
Soh is etc. that takes advantage of the power of decentralization? Gere are some key forms:
- Volunteer nodes : etc. It is based on an integrity network of volunteer nodes. There are noodes Canywhere in the world and participates in the consensus mechanism, which hinders manipulation.
- Dental governance : This, that any change or update must be approved by the majority of network participants.
- Open source code : The excess source code of etc makes it possible for anyone to review and the project. This transparency helps identify vulnerabilities and guarantees that the network remains.
- Community participation : efficiently.
Benefits of decentralization
Decentralization outside weeks and developers:
- Security : Decentralized networks are more difficult to manipulate and control.
- Transparency : The open source of the Code of etc makes it possible for anyone to review and audite the project.
- Autonomy : Users have total control over transactions, since it has not focused on network control.
Challlenges facing etc.
Despite its decentralized advantages, etc. They are still in several challenges:
- Most impacted cryptocurrency competition : As more conventional cryptocurrencies arise, etc., it must enter and innove.
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