Ethereum Classic vs Monero

Table of Contents

1. Metrics
2. Detailed Comparison
   • Core Technology & Architecture
   • Performance Metrics
   • Transaction Costs
   • Technical Features
   • Privacy Features
   • Development and Governance
   • Supply Economics
   • Use Cases and Target Market
   • Network Security
   • Future Development
3. FAQs
   • Is Ethereum Classic faster than Monero?
   • Is Ethereum Classic cheaper than Monero?

Metrics

Detailed Comparison

Core Technology & Architecture

Ethereum Classic (ETC) and Monero (XMR) represent two fundamentally different approaches to blockchain technology. While both are Layer 1 solutions, their architectural designs serve distinct purposes:

• Ethereum Classic: Built as a smart contract platform, maintaining the original Ethereum vision before the DAO fork. It supports complex programmable transactions and decentralized applications (dApps).
• Monero: Designed specifically for private, untraceable transactions, built on the CryptoNote protocol with privacy as its core feature.

Performance Metrics

The performance characteristics of these chains differ significantly:

Transaction Speed (TPS):

• Ethereum Classic: 15 TPS
• Monero: 1,700 TPS

This substantial difference in transaction throughput shows Monero's superior scaling capability for basic transactions. However, it's important to note that ETC handles more complex computations through smart contracts, which naturally limits its raw transaction throughput.

Block Time:

• Ethereum Classic: 13 seconds
• Monero: 120 seconds

ETC's faster block time provides quicker transaction finality, making it more suitable for applications requiring rapid confirmation. Monero's longer block time is a deliberate choice to enhance privacy and reduce the network's attack surface.

Transaction Costs

Both chains maintain relatively low transaction fees:

• Ethereum Classic: 0.0001 ETC
• Monero: 0.001 XMR

While the nominal values appear similar, the actual costs can vary significantly based on the tokens' market prices. ETC's fee structure must account for smart contract execution, while Monero's fees primarily cover simple value transfers with privacy features.

Technical Features

Smart Contract Capability:

• Ethereum Classic: Full smart contract support with EVM compatibility
• Monero: No smart contract support

This represents a fundamental difference in use cases. ETC provides a platform for decentralized applications and complex financial instruments, while Monero focuses exclusively on private value transfer.

Hashing Algorithms:

• Ethereum Classic: KECCAK-256
• Monero: RandomX

Monero's RandomX algorithm is specifically designed to be ASIC-resistant, promoting more decentralized mining, while ETC's KECCAK-256 is more traditional and allows for specialized mining hardware.

Privacy Features

This represents perhaps the starkest contrast between the two chains:

• Monero:

  • Built-in privacy features
  • Ring signatures
  • Stealth addresses
  • Confidential transactions
  • Complete transaction obscurity

• Ethereum Classic:

  • Transparent blockchain
  • Public transaction history
  • Visible wallet balances
  • Traceable transaction flow

Development and Governance

Project Leadership:

• Ethereum Classic: Originally conceived by Vitalik Buterin, but now maintained by a decentralized community
• Monero: Initially developed under Riccardo Spagni's leadership, with strong community governance

Development Activity: Both projects maintain active GitHub repositories and development communities, though with different focuses:

• ETC: Focus on maintaining EVM compatibility and smart contract functionality
• Monero: Emphasis on privacy enhancements and ASIC resistance

Supply Economics

Both chains have interesting approaches to token supply:

• Both feature unlimited maximum supply
• Different emission schedules and inflation rates
• Monero implements a tail emission to ensure long-term mining incentives
• ETC follows a modified monetary policy from the original Ethereum design

Use Cases and Target Market

Ethereum Classic:

• DeFi applications
• Smart contract deployment
• Decentralized applications
• Programmable money
• Digital asset management

Monero:

• Private transactions
• Confidential value transfer
• Privacy-focused commerce
• Censorship-resistant transactions
• Anonymous wealth storage

Network Security

Both chains employ Proof of Work (PoW) consensus, but with different implementations:

• Ethereum Classic:

  • Traditional PoW implementation
  • Vulnerable to 51% attacks historically
  • Larger mining ecosystem due to EVM compatibility

• Monero:

  • ASIC-resistant PoW
  • Regular algorithm updates to maintain ASIC resistance
  • Strong focus on decentralized mining
  • Enhanced privacy provides additional security benefits

Future Development

Ethereum Classic:

• Maintains original blockchain principles
• Continues to support smart contract functionality
• Focus on stability and security improvements
• Limited scalability improvements planned

Monero:

• Regular protocol upgrades
• Continuous privacy enhancements
• ASIC resistance maintenance
• Transaction efficiency improvements

This comparison reveals two fundamentally different blockchain approaches: Ethereum Classic as a smart contract platform maintaining the original Ethereum vision, and Monero as a privacy-focused currency platform. While they share some basic blockchain characteristics, their technical implementations and use cases differ significantly, making them complementary rather than competitive in the broader cryptocurrency ecosystem.

FAQs