Web3 is a constantly expanding industry and crypto price action tends to favour projects that can adapt to its fast-changing environment. ETC is a classic example of a project that has been left behind due to its inability to scale with the rest of the industry, which has resulted in some pessimistic price predictions for the Ethereum Classic token.

In contrast, the latest Ethereum blockchain (ETH) continues to grow. There are some key differences between the two Ethereum chains, including ETH being home to fast-growing projects like Metacade.

What is Ethereum Classic?

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. Since ETC is not Turing Complete, developers cannot create decentralised applications (dApps) on the Ethereum Classic blockchain and this has always placed negative pressure on the Ethereum Classic price prediction.

Ethereum Classic is often referred to as “Ethereum’s original chain” because it retains the original Ethereum blockchain. After the Ethereum hard fork in October 2016, Ethereum Classic was kept online by nodes all over the world. This means that crypto users can still make transactions on the Ethereum Classic network, despite Ethereum Mainnet moving in a different direction over the past 6 years.

In recent times, Ethereum Mainnet has made the switch from a Proof of Work consensus mechanism to Proof of Stake. This has reduced the cost of supporting 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 block time of 14 seconds and high transaction fees due to its energy-intensive mining system.

Price action lacking in ETC

The current price of ETC is $25.19. Since Ethereum Classic is the oldest Ethereum chain and is restricted by its inability to support dApps, it has much lower transaction activity than Ethereum Mainnet. With fewer people buying the token, ETC price is now a fraction as high as ETH, with poor Ethereum Classic price prediction assessments coming from analysts looking at its mid- to long-term prospects.

Despite this, the Ethereum Classic market cap is over $3 billion. However, the chain’s lack of functionality within the world of Web3 means it has lower growth potential for the long term. In trying to choose the correct Ethereum Classic price prediction, it’ll be important to think about the situation from a development perspective. For developers looking to build exciting digital services using blockchain technology, Ethereum Classic is not an option.

The expected result is that new projects building on ETH will continue to gain value while the Ethereum Classic price prediction shows ETC falling even further in the future. It all boils down to utility.

A New Project in the ETH Ecosystem Making Major Gains

While ETC price action leaves much 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 broad utility to crypto holders who are looking to make the most out of the Web3 user experience.

Metacade aims to support the expansion of GameFi as a core sector of blockchain technology. It is a community-driven initiative that rewards crypto natives for providing value to the ecosystem, among a host of other exciting features that are attracting widespread interest.

What is Metacade?

Metacade is a broad gaming platform that aims to support the expansion of GameFi. Play-to-Earn projects are revolutionising the gaming industry, as players gain financial rewards for the time they spend in-game. This is a core reason why so many are predicting high growth potential for the GameFi sector over the coming years and Metacade is positioning itself as a key player.

Millions Expected to Join the Metaverse

There are many exciting new P2E projects being developed and the scope of what is possible in the metaverse is constantly being expanded. As blockchain technology becomes increasingly more advanced, and the world becomes increasingly more digital, millions of people are expected to jump into the metaverse to enjoy the hottest new Play-to-Earn games.

Supporting GameFi Developers

Metacade supports this expansion directly through its Metagrants program. The community will get to decide which new GameFi projects sound the most promising, and vote to use the Metacade treasury to directly fund the development teams. Metacade’s aim is to drive growth in Play-to-Earn gaming. For innovative developers that have exciting new ideas, this is an extremely valuable service. The Metacade ecosystem could become a hub of technological progress as a result, pushing the limits and ensuring a fresh supply of awesome titles.

Rewarding Play-to-Earn Gamers

In addition to supporting the continued development of blockchain-based gaming, Metacade offers some unique features to P2E gamers in its own metaverse scope. Active members of the Metacade community can earn MCADE rewards for their contributions. This includes sharing tips, tricks, and useful knowledge about how to optimise your GameFi playing experience.

The gaming community is at the centre of Metacade’s plans for the future. The project aims to connect avid gamers with the best Play-to-Earn opportunities, creating a virtual arcade where users can collaborate and share their insights. Power is given back to the community, as players can share their suggestions with game developers directly and earn MCADE tokens in the process.

MCADE vs ETC: Which Token Should You Buy?

While Ethereum Classic continues to hold its price above the $20 mark, investors are favouring projects that support the Web3 ecosystem, giving a relatively negative outlook for Ethereum Classic price prediction.

Ethereum Mainnet, on the other hand, remains the most-used network of decentralised applications, and people are bullish on the long-term future of dApps themselves. ETH stands to fare much better than any Ethereum Classic price prediction currently available, and for good reasons: its upcoming projects.

A prime example of a high-potential project being built on Ethereum is Metacade. Through supporting the expansion of GameFi and offering exclusive benefits to P2E players in an immersive digital world, Metacade is an attractive option for long-term crypto investors.

The MCADE presale is starting out at $0.008 per token. It has high long-term potential, and the price of each token will be increasing as it progresses through presale stages. In contrast, ETC continues to experience slow growth, as the latest Ethereum blockchain offers a vastly improved user experience.

You can buy ETC on eToro here.

You can participate in the MCADE presale here.

The post Ethereum Classic Price Prediction: ETC seems stable whilst Metacade (MCADE) doesn’t stop rising appeared first on CoinJournal.

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Filed under: Bitcoin - @ December 23, 2022 3:24 pm