Ethereum is a brand officially launched by developers Vitalik Buterin and Gavin Wood in 2015, although it was established in 2013. It provides a platform for blockchain-based internet resources. The first ether logo of the online platform was developed before its launch, literally at the last minute. Before that, there was no preliminary preparation and not even indicative ideas. One of the service founders just drew it himself in the Texture program.
The original version consisted of two characters ∑ (the sum of a series of numbers) rotated 45 degrees on each side. As a result, the figure looked like a diamond. It was used in the early stages of the project and only introduced during product implementation. Then, according to the owners’ results, a special contest was held, to choose the winner. It’s a modernized version of the first ether logo.
The ETH logo is based on an octahedron, a diamond-shaped geometric figure.
ETH logo consists of six triangles, four at the top and two at the bottom. Due to the strict configuration and the colour scheme that forms the shadows, the logo has a three-dimensional appearance, resembling a pyramid with four edges and faces of different shades.
The bottom half of the mark looks like an identical repeat of the top half with two hidden edges. There is free space between the digits, indicated by a uniform white line. There is no official idea explaining such an idea. But it is assumed to be a polyhedron, demonstrating many possibilities even where they seem absent.
Ethereum has several other ether logos designed explicitly for regional services.
Depending on the country, they are painted in the colours of the national flags. But there are also alternate versions reflecting general cultural ties.
Despite this variety, the basic colours are white, grey, and black with different levels of transparency. The right central triangle is the darkest. The left one is slightly lighter and closer to dark grey. Two other digits are light grey. Thanks to this play of shades, a clear visual image of two cones with a common white platform are created, one of which is inverted (bottom).
For the wordmark, the designers use a dark grey colour. The gold pattern used on the Powered by Ethereum mark is also used.
The ETH logo consists of six triangles bent in a special way. Four of them form an octahedron, and the other two lie just below in the form of an arrow. Since the designers used different shades of the same colour, the design appears to be three-dimensional.
Use of the Ethereum logo is permitted as long as the guidelines outlined in the brand guide are followed. The words “Ethereum Foundation” should also be attributed next to it.
It is a token based on the ERC-20 standard. Its stock exchange designation is ETD.
Ethereum is the proprietary cryptocurrency of a blockchain platform with a similar name.
What is the difference between Ethereum ETH and Ethereum Classic ETC? The names of these two projects might mislead some of the newer investors in the crypto space. Truth be told, the story is one of the most controversial in the cryptocurrency world.
The history of Ethereum ETH
In 2013, there was only one ETH blockchain network and only one cryptocurrency of that name: Ether (ETH).
At the origin of the creation of this blockchain, we find Vitalik Buterin and a team of talented developers.
Compared to the Bitcoin blockchain, already established at the time, the main difference is that it is possible to create decentralized applications on the Ethereum blockchain through self-executing contracts, also called “smart contracts.” Thus, the decentralized smart contract has made the Ethereum blockchain very attractive, especially for small businesses.
The division of the blockchain proved inevitable with the creation of the Decentralized Autonomous Organization (DAO).
The DAO would allow users to develop a pool of Ethereum to decide which project they ought to collectively invest in. The whole idea was hugely successful and raised $150 million worth of ETH. Unfortunately, a flaw in the blockchain code enabled attackers to withdraw $50 million.
The incident divided the Ethereum community. The transparent and permanent record of the blockchain meant that the facts could not be changed.
That said, a considerable part of the community concluded that the Ethereum blockchain needed to be modified to negate the attack and recover the funds.
The adoption of one solution was not viable within the community, which led to a hard fork, i.e., a division of the chain. The old blockchain that decided not to change records was renamed Ethereum Classic (ETC), while the new network was simply called Ethereum (ETH).
The chaos and issues caused by the 2016 attack on the Ethereum blockchain, followed by the first hard fork of the latter, thus paved the way for the first conversation of ETC vs. ETH.
What is the function of Ethereum Classic?
Ethereum Classic is an immutable blockchain. It holds the records of the 2016 attack and the entire history of the network.
The developers supporting the project are still working hard to expand it to a global payment method. The community behind ETC has an idealistic view of the blockchain, firmly believing that no changes should occur in the blockchain. Ultimately, we must remember that this technology creates an environment to prevent human manipulation.
ETC idealists don’t accept the reasoning that led to the 2016 hard fork and invoke the already famous “Code is law” amendment to protect the immutability of a system built to be fundamentally different from the traditional world system.
The Ethereum Classic community thus deplored the choice of the hard fork, pointing out that it sets a precedent for creating future forks for any reason that would seem to justify not respecting the rules of the blockchain.
Is Ethereum Classic ETC better than Ethereum ETH?
What is the difference between Ethereum Classic and Ethereum? The names of these two projects might mislead some of the newer investors in the crypto space. Their story is one of the most controversial in the cryptocurrency world.
Comparing two cryptocurrencies goes far beyond simply comparing prices: it is a battle of ideas. Investors should grasp the basic concepts that lie between the two before deciding which crypto, between Ethereum Classic and Ethereum, is a better investment. But let’s dive into the heart of the matter.
While the essence of an indisputable and permanent account ledger is the main underlying value of Ethereum Classic, its future seems to raise a series of concerns regarding the security and scalability of this network.
Although Ethereum Classic offers smart contracts like the Ethereum network, it has struggled to gain the same popularity as Ethereum. Indeed, it lacks a few elements, which has hindered its long-term growth. These include the vision, support, and extensive developer support enjoyed by the standard Ethereum network.
Many developers lost faith in the success of the network after a series of 51% attacks. Thus, the analysts concluded that Ethereum Classic must adopt the Proof of Stake (PoS) consensus mechanism to increase the transaction limit and eliminate the threat of future attacks.
Does the Ethereum Classic project follow?
After the 2016 hard fork on the Ethereum network, many important changes have taken place.
The Ethereum vs. Ethereum Classic comparison is a constant in many crypto communities.
That said, hard facts have shown that Ethereum is striving to become the best DeFi service provider, growing and developing.
The Ethereum Classic network has decided to follow Bitcoin’s scarcity model.
Thus, the network has a hard cap of around 210 million ETC. Block rewards decrease by 20% every 5 million blocks. For its part, Ethereum continues to issue ETH coins at the same rate and does not have a hard cap.
At the same time, the Ethereum network announces that it will complete the transition from a proof-of-work (PoW) consensus mechanism to a proof-of-stake (PoS) mechanism by the end of 2021.
The consensus mechanism of PoS requires fewer resources to maintain the network and is the greenest option for any blockchain system.
Although mentioned in the original Ethereum roadmap, the Ethereum Classic network has decided to delay the move to PoS. And it has now completely removed it from its plans. Therefore, the ETC will continue to operate as a proof-of-work (PoW) network.
Considering the major differences in how the two platforms plan to grow, it is obvious that Ethereum Classic is not following Ethereum’s course.
Additionally, performance metrics, such as total transactions and hash rates, show that Ethereum is the better-performing network of the two.
The Ethereum network performs an average of 600,000 transactions per day. Meanwhile, the daily average on the Ethereum Classic network is around 40,000. The computing power (hash rate) of Ethereum is around 20 times that of the network Ethereum Classic.
Similarly, more than half of all existing digital applications run on the Ethereum platform, while only a handful of them are on the Ethereum Classic network.
The story behind the development of Ethereum network and ETH logo is one of the most interesting in the crypto world. We hope you found this article helpful regarding the ETH logo details as well as the differences between ETH and ETC projects.
Get the latest economy news, trading news, and Forex news on Finance Brokerage. Check out our comprehensive trading education and list of best Forex brokers list here. If you are interested in following the latest news on the topic, please follow Finance Brokerage on Google News.