Hello, in this lesson, we are going to cover the difference between aetherium. And if aetherium Classic, you may know there are two sets of aetherium or you might not. And if it didn't, you do now and you'll be learning why there are. So let's just talk about some history. There was a really infamous hack, known as this really infamous hack called the d, o. And di O stands for decentralized autonomous organization.

I'll actually cover that in a separate lesson. So feel free to check that out as well. But after da O's were implemented, the hack occurred called the D IO hack. And this hack resulted in 50 million fun Were accessed why the hacks of 50 million funds were accessed as a result of this hack. So 50 million phones got access as a result. And what happened was the community the open community of aetherium.

I mean, yeah, fear for Toma Bitcoin. The awesome community of aetherium came. They came together and decided to undo the hack you then a hard fork If you're unaware of what a hard fork is, I've got a separate video covering the difference between a hard fork and it's awful. So, go check that out some really cool topics covered in there and certain members oppose this certain members oppose this for two main reasons. First, they believe it went against the ethos of not only if aetherium but also cryptocurrencies in general. And so people didn't believe it was in the center Philosophy are what cryptocurrencies are.

And that's essentially the concept. The concept of an immutable open ledger that can never be changed. And obviously, if they're essentially undoing it, obviously being changed by quite a bit good or bad or mean like if the intentions are good or bad. It basically goes against the ethos and certain members of upset opposed it. Most of the members actually move to a new referring chain most users move To the new fieri chain whilst some some users stayed on the old chain which is now referred to as Can you get it? If varium Classic so we have a farrier, which is what most of the users use.

And then we have a theorem classic which is the old in the initial chain. So mostly the switch Some users remained both check both chains, both chains. Sorry about that. Their own set of developers. So it's not managed by the same team or the same group of teams. They do have their own developers, because they have certain mindset.

They have different ideas of what they want each chain to be. Most of the developers most of the developers moved to The new chain, which is referred to just hear him, when he talks about theory, most likely you're talking about the new chain. And not the old classic chain actually depends on you watching this video. Maybe in four years time, if you're still watching this video, things might change. And if you're in classic might be the dominant platform, we might be slow theorem, chain. And when you say if you're in you might not even be referring to these two current chains.

So who can tell? We'll see in the future so most developers and users are most developers and users moved to the new aetherium chain and in terms of functionality, functionality, While they are both pretty similar, so they are both pretty similar in terms of functionality, but that's a essentially an overview of efficiency fear in versus if you're in classic one nothing I will actually cover is the price. So as of October 2017 to be exactly 27th of October when I'm recording this video if fear Iam inferior worth or the market cap of aetherium is $30 billion dollars and it is worth 30 or $300 per theory in coins And he fieri m classic is worth just a measly $1 billion and this costs $10 per coin. So that's it for this video. Hope you enjoyed it. If you have any questions, feel free to reach out, feel free to go over the video again and have a look at the different aspects of aetherium Classic and aetherium.

And as usual, thanks for watching, and I look forward to seeing you in my next lesson.