Yesterday, the Ethereum Classic team presented Gravity (GRAV) to the community. As per the tweet from the team, Gravity will be the fuel the Orbita sidechains will use to connect to the Ethereum Classic (ETC) blockchain. This will open up the adoption of Ethereum Classic (ETC) blockchain. That’s because with sidechains, Ethereum Classic (ETC) can handle thousands of transactions seamlessly, without any inefficiencies. That’s because sidechains take transactions off the Ethereum Classic blockchain, allowing it to scale effectively and be useful for all kinds of applications. David McIntyre of the ETCDEV team put it best in a recent interview with Crypto Insider. He stated that,
“Orbitas are also going to be used at the individual level. For example, individual businesses manufactures can create an Orbita inside of their organizations, and machines can operate between themselves inside their own private network you could call. At the home level in the future, today, people are having devices like thermostats and door rings and alexa and stuff like that, but they all communicate with the central service of the provider. When Orbitas are used at the home level, those devices are going to be all autonomous, and they’re all gonna operate, and the owners of the home are going to use them etc. but without compromising their private information with centralized service.”
Considering that the issue of scalability is the biggest problem that most platform blockchains face in the market, solving this problem is a key value driver for platform blockchains. As such, by effectively making use of sidechains to solve this challenge, the adoption levels of the ETC blockchain will rise as well.
The potential for adoption of the Ethereum Classic (ETC) blockchain is also increased by the fact that it has a number of other key attributes, the biggest one being immutability. Immutability, is probably one of the biggest assets to the ETC blockchain. That’s because it makes it practical for the development of Dapps aimed at critical industries, where immutability is the biggest source of value.
Besides, by being immutable, and having solved scalability using side chains, Ethereum Classic (ETC) is well placed to make it big in the IoT market. For IoT to work, especially in industries where machine-to-machine communication entails the exchange of sensitive data, security is a top priority. Given that Ethereum Classic (ETC) is one of the most secure blockchains out there, it is perfectly suited for this market. If it gains traction, Ethereum Classic (ETC) could be headed for huge gains in the future given that this is a market that’s projected to be worth at least $10 trillion in coming decades.
As all these factors come together, Ethereum Classic (ETC) could be geared to outperform the market in the future. It has what it takes to become a top performer going into 2019 and beyond. This makes it a worthy buy now that the bear market has dragged down its value to under $6, way below its all-time highs. The bounce back for Ethereum Classic (ETC) could be huge.