Monero vs Ethereum Classic

Table of Contents

1. Metrics
2. Detailed Comparison
   • Technical Architecture
   • Performance Metrics
   • Transaction Costs and Economics
   • Smart Contract Capabilities
   • Privacy Features
   • Consensus and Security
   • Development and Governance
   • Use Cases and Applications
3. FAQs
   • Is Monero faster than Ethereum Classic?
   • Is Monero cheaper than Ethereum Classic?

Metrics

Detailed Comparison

Technical Architecture

Monero and Ethereum Classic represent two distinct approaches to blockchain technology, each with unique technical foundations:

• Monero (XMR)

  • Built on CryptoNote protocol
  • Privacy-focused Layer 1 blockchain
  • Uses RandomX hashing algorithm
  • No smart contract functionality
  • Higher TPS at 1,700 transactions per second

• Ethereum Classic (ETC)

  • Original Ethereum blockchain implementation
  • EVM-compatible Layer 1 blockchain
  • Uses KECCAK-256 hashing algorithm
  • Full smart contract support
  • Lower TPS at 15 transactions per second

The technical architecture differences highlight Monero's focus on privacy and transaction throughput, while Ethereum Classic prioritizes programmability and smart contract functionality. This fundamental difference shapes how each blockchain serves its users and target market.

Performance Metrics

Both chains show distinct performance characteristics:

Block Time

• Monero: 120 seconds
• Ethereum Classic: 13 seconds

Ethereum Classic's faster block time means quicker transaction confirmations for users, making it more suitable for applications requiring rapid finality. Monero's longer block time contributes to enhanced privacy and security but comes at the cost of slower confirmations.

Transaction Speed (TPS)

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

Monero's significantly higher transaction throughput provides better scalability for payment-focused applications. This substantial difference means Monero can handle larger transaction volumes, though it's important to note that Ethereum Classic's lower TPS is partially due to its additional smart contract computation requirements.

Transaction Costs and Economics

The fee structure differs between the two chains:

• Monero: 0.001 XMR average fee
• Ethereum Classic: 0.0001 ETC average fee

While Ethereum Classic appears to have lower nominal fees, the actual cost comparison depends on the respective token prices. Both chains have chosen not to implement a maximum supply cap, allowing for perpetual emission to maintain network security through mining rewards.

Smart Contract Capabilities

The chains differ significantly in their programmability:

• Monero

  • No smart contract support
  • Focused purely on private transactions
  • Simpler architecture optimized for payments

• Ethereum Classic

  • Full smart contract support
  • EVM compatibility
  • Support for decentralized applications (dApps)
  • Complex programmable functionality

This fundamental difference positions Ethereum Classic as a platform for decentralized applications and complex financial instruments, while Monero remains focused on being a private, secure medium of exchange.

Privacy Features

Privacy characteristics represent a major distinguishing factor:

• Monero

  • Built-in privacy features
  • Ring signatures for transaction obscurity
  • Stealth addresses for recipient privacy
  • Confidential transactions hiding amounts

• Ethereum Classic

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

Monero's privacy-first approach makes it the clear choice for users prioritizing transaction privacy, while Ethereum Classic's transparency serves use cases requiring public verifiability and smart contract interactions.

Consensus and Security

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

• Monero

  • RandomX algorithm
  • ASIC-resistant
  • Focused on CPU mining
  • Enhanced decentralization

• Ethereum Classic

  • KECCAK-256 algorithm
  • ASIC-friendly
  • GPU and ASIC mining
  • Traditional mining approach

Monero's ASIC-resistant approach promotes greater decentralization by enabling regular users to participate in mining using standard computer hardware. Ethereum Classic's traditional approach allows for specialized mining hardware, potentially leading to more concentrated mining power but also higher overall network security through dedicated mining operations.

Development and Governance

The development approaches differ significantly:

• Monero

  • Led by Riccardo Spagni and community developers
  • Strong focus on privacy innovations
  • Regular protocol upgrades
  • Community-driven development

• Ethereum Classic

  • Originally created by Vitalik Buterin
  • Maintains original Ethereum principles
  • Conservative upgrade approach
  • Multiple development teams

Both projects maintain active development communities, though their focus areas differ substantially. Monero's development prioritizes privacy enhancements and fungibility improvements, while Ethereum Classic focuses on maintaining and improving its smart contract platform while preserving immutability principles.

Use Cases and Applications

The blockchains serve different primary purposes:

• Monero

  • Private transactions
  • Store of value
  • Anonymous payments
  • Financial privacy tools

• Ethereum Classic

  • Smart contract deployment
  • Decentralized applications
  • Token creation
  • Programmable finance

These distinct use cases mean the chains often serve different user bases and market needs, with minimal direct competition despite both being Layer 1 solutions.

FAQs