What is Ethereum Classic (ETC)?
Ethereum Classic (ETC) is a decentralized programmable blockchain like Ethereum which is a wholly decentralized, peer to peer, open source, blockchain based computing system. Like ETH, ETC is traded on exchanges and offers the same functionality of decentralized apps and smart contracts as Ethereum (ETH). It also has the same original contracts language called Solidity.
Ethereum Classic (ETC): History
Ethereum is the brainchild of Vitalik Buterin, a Russian programmer. Ethereum was not built to be a little cryptocurrency.Then the great DAO attack happened.Two years after the Ethereum project launch, the Ethereum community thought of launching the DAO.In May 2016, the DAO went for a crowd token sale to fund its development. DAO was one of the earliest and most prominent applications being built on Ethereum’s platform, and it resulted in a mess which paved the way for the drop in the price of Ethereum. So, they have implemented a Hard fork on the Ethereum blockchain at Block 192000 to refund the loss of the DAO investors. Thus the Ethereum Classic was born.
How does Ethereum Classic (ETC) work?
Ethereum Classic is an open-source, peer-to-peer, computing platform based on blockchain technology and the original Ethereum code. Just like Ethereum, it provides a value token, or “altcoin,” called “classic ether” which is used to pay users for products and services, and as a transaction fee when using decentralized apps and smart contracts. Ethereum Classic also provides a value token called “classic ether,” which can be transferred between participants, stored in a cryptocurrency wallet and is used to compensate participant nodes for computations performed. The classic ether token is traded on cryptocurrency exchanges under the ticker symbol ETC.
In Ethereum Classic, like Ethereum, the nodes in the network keep the recent state of the network which includes the users’ balance, smart contracts and where the Ethers are stored.
Bitcoin tallies the spent and unspent changes to keep a record of the account balance while Ethereum Classic works like a bank account and the Ethers are always in your account and can be transferred to another user.
How to buy Ethereum Classic (ETC)?
In the USA, Europe, Canada, UK, and Singapore, buying bitcoins on Coinbase is the easiest way to buy Ethereum Classic with a credit card. The fees will amount to 3.75%, and you can buy instantly. Coinbase only sells Ether and not Ethereum Classic. Then transfer the bitcoins to Poloniex to exchange them for Ethereum Classic.
Ethereum Classic (ETC) Price Prediction 2018
ETC can be a profitable investment option. Ethereum Classic price equal to 33.709 USD at 2018-01-11. If you buy Ethereum Classic for 100 dollars today, you will get a total of 2.967 ETC. Based on our forecasts, a long-term increase is expected, the price prognosis for 2023-01-06 is 153.530 US Dollars. With a 5-year investment, the revenue is supposed to be around +355.45%. Your current $100 investment may be up to $455.45 in 2022. The Ethereum classic has the price today $33.89 and a market cap value of $3,356,354,897. The coin has marked the volume as $767,574,000 and has a current supply of 99,030,597 ETC. Altcoin News: Ethereum Classic altcoin news, Ethereum Classic altcoin mining, Ethereum Classic altcoin price, Ethereum Classic altcoin market cap, Ethereum Classic altcoin exchanges, Ethereum Classic Altcoins price today, Ethereum Classic cash, Ethereum Classic price chart.