Web3 is an ever-expanding industry, and cryptocurrency price action tends to favor projects that can adapt to its rapidly changing environment. ETC is a classic example of a project that has fallen behind due to its inability to scale with the rest of the industry. In contrast, the latest Ethereum (ETH) blockchain continues to grow. There are some key differences between the two Ethereum chains, including the fact that ETH is home to fast-growing projects like Metacade.
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What is Classic Ethereum?
Ethereum Classic (ETC) is a cryptocurrency that was created as a result of a fork in the Ethereum blockchain. Unlike Ethereum (ETH), Ethereum Classic does not support the use of smart contracts. As ETC is not “Turing Complete”, developers cannot create decentralized applications (dApps) on the Ethereum Classic blockchain. Ethereum Classic is often referred to as the “original Ethereum chain” because it retains the original Ethereum blockchain. After the Ethereum hard fork in October 2016, Ethereum Classic was held online through nodes across the world. This means that crypto users can still transact on the Ethereum Classic network, despite the fact that the Ethereum mainnet has moved in a different direction. In recent times, the Ethereum Mainnet (“Ethereum mainnet”) has made the shift from a Proof-of-Work to Proof-of-Stake consensus mechanism. This reduced the cost of supporting the network infrastructure. While ETH is now Proof-of-Stake, ETC remains a Proof-of-Work blockchain. The result is that Ethereum Classic is slower and more expensive to run, with a 14-second block time and high transaction fees due to its energy-intensive mining system.
Missing price action on ETC
The current price of ETC is R$136.28. As Ethereum Classic is the oldest Ethereum chain and is constrained by its inability to support dApps, it has much lower transaction activity than Ethereum Mainnet. With fewer people buying the token, the ETC price is now a fraction of the ETH price. Despite this, the market cap of Ethereum Classic is over R$16.2 billion. However, the lack of network functionality in the Web3 world means that it has less long-term growth potential. For developers looking to create exciting digital services using blockchain technology, Ethereum Classic is not an option. The expected result is that new ETH-based projects will continue to gain value, while the price of ETC may fall further in the future. It all comes down to utility.
A New Project in the ETH Ecosystem Generating Big Gains
While ETC’s price action leaves a lot to be desired due to its lack of functionality, one token that continues to impress is Metacade. Built using the latest Ethereum blockchain, this project offers wide utility for cryptocurrency holders who want to get the most out of the user experience on Web3. Metacade aims to support the expansion of GameFi as a core sector of blockchain technology. It’s a community-driven initiative that rewards crypto-natives for adding value to the ecosystem, among a host of other cool features that are attracting widespread interest.
What is Metacade?
Metacade is a broad and comprehensive gaming platform that aims to support the expansion of GameFi. Play-to-Earn projects are revolutionizing the gaming industry as players earn financial rewards for the time they spend playing. This is one of the main reasons why many are predicting high growth potential for the GameFi sector in the coming years and Metacade is positioning itself as a key player.
Supporting GameFi Developers
There are many exciting new P2E projects being developed, and the scope of what’s possible in the metaverse is constantly being expanded. As blockchain technology becomes more and more advanced and the world becomes more and more digital, millions of people are expected to enter the metaverse to enjoy the hottest new Play-to-Earn games. Metacade supports this expansion directly through its Metagrants program. The community will decide which new GameFi projects look most promising and provide funding directly to their respective development teams, with the aim of driving the growth of Play-to-Earn games. For innovative developers who have exciting new ideas, this is an extremely valuable service. As a result, the Metacade ecosystem can become a hub of technological progress, pushing boundaries and ensuring a fresh supply of amazing titles.
Rewarding Play-to-Earn Players
In addition to supporting the ongoing development of blockchain-based games, Metacade offers some unique features for P2E players in its own scope in the Metaverse. Active members of the Metacade community can earn MCADE rewards for their contributions. This includes sharing tips, tricks and useful knowledge on how to optimize your GameFi gaming experience. The gaming community is at the heart of Metacade’s plans for the future. The project aims to connect avid gamers with the best Play-to-Earn opportunities by creating a virtual arcade where users can collaborate and share their ideas. Power is returned to the community as players can share their suggestions directly with game developers and earn MCADE tokens in the process.
MCADE vs ETC: Which Token Should You Buy?
As Ethereum Classic continues to keep its price above the R$108 mark, investors are favoring projects that support the Web3 ecosystem. The Ethereum Mainnet remains the most widely used decentralized application network, and people are optimistic about the long-term future of dApps themselves. An excellent example of a high potential project being built on Ethereum is Metacade. By supporting the expansion of GameFi and offering unique benefits to P2E players in an immersive digital world, Metacade is an attractive option for long-term crypto investors. The MCADE pre-sale is starting at R$0.043 per token. It has high potential for the long term and the price of each token will increase as the pre-sale stages progress. In contrast, ETC continues to see slow growth, while the latest Ethereum blockchain offers a vastly improved user experience.
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