Ethereum Classic PriceETC

What Is Ethereum Classic (ETC)?

Ethereum Classic (ETC) is a decentralized blockchain-based open-source computing platform and cryptocurrency. It allows developers to make and deploy smart contracts and self-executing code blocks that initiate actions based on predefined conditions. It's a cryptocurrency that runs smart contracts. Ethereum Classic came in 2016 after happened some hacking activity with the DAO. After hacking, the original block was split into two parts for users to recover their stolen funds. 

The ETC is an open-source network that anyone can use to execute transactions. They have a well-established crypto wallet. 

The Birth of Ethereum Classic

It is possible to build a decentralized autonomous organization or DAO on Ethereum using the ETC smart contract. Human intervention is not needed in a DAO's governance and decision-making processes.

The German startup stock started "the DAO" projects on Ethereum in 2016. At that time, the project raised more than $150 million in crowdfunding, creating a vast value itself. At that time, hackers found one loophole in the smart contract and stoned $50 million. A hard fork or radical change to Ethereum's base protocol was supported by most Ethereum users, including its founders Vitalik Buterin and Gavin Wood. As a result, the Ethereum (ETH) chain was formed.

However, a small section of the community refused to fork and stood by the principle that 'code is the law.' They maintained that blockchains could not be bent to suit human whims, renaming the chain Ethereum Classic (ETC).

The original "Ethereum" crypto is mainly considered an Ethereum Classic because Ethereum classic still has preserved the old code as it was until the DAO attack.

Ethereum Classic vs. Ethereum — How do they differ?

Functionality-wise, ETH, and ETC are both identical. Developers can use open-source code to develop and run their decentralized applications and create ERC-20 tokens for their applications. 

ETH Classic's primary differentiating factor is incompatible with ETH blockchain updates. Hard forks are backward-incompatible updates by definition. As a result of the new rules, the new chain and its users (nodes) are entirely separated from the original chain. The original chain (Ethereum Classic) cannot interact with the new chain (Ethereum).

ETC cannot be updated, so what is the point of having it? In addition to its ideological foundation, Ethereum Classic is also based on a network of blocks. Preserve the original and unadulterated Ethereum code which is most relevant. So, ETC is an unaltered historical record of the Ethereum network.

Uses of Ethereum Classic

• The primary use of Ethereum Classic (ETC) is to pay decentralized computations on the Ethereum network.
• ETC is a payment method on the Ethereum Blockchain for executing transactions and smart contracts. This is referred to as gas, and the fee associated with these actions is known as GAS costs.
• Monetary policy has a native token named ETC that creates a disinflationary emission schedule, predictable with a fixed market cap. 

Goals of Ethereum Classic

The Ethereum Classic (ETC) has changed and made many changes and modifications since the splits.

• The purpose of the ETC is to create an intelligent contract-based global payment network without a centralized authority.

• ETC is easy to get, so you can keep or exchange it while it is worth it. 

Like money, cryptos have a digital store of value that includes their buying power, which can be converted quickly into cash or used to purchase other assets.

Who Are The Founders of Ethereum Classic?

Frontier initially released the Ethereum Classic mainnet on July 30, 2015, by the Ethereum Foundation, a Swiss non-profit founded by Vitalik Buterin and the core Ethereum team. Blockchain-based intelligent contracts were the team's primary focus.

What Makes Ethereum Classic (ETC) Unique?

Ethereum Classic remains one of the most popular hard forks on any blockchain despite its historical fame. It is possible to find many of the features of Ethereum Classic since it uses the same base code as Ethereum. As opposed to Ethereum, Ethereum Classic adheres to an immutable model and provides users with a permanent Proof of Work system.

What Gives Ethereum Classic (ETC) Value?

Ethereum Classic tokens are used to operate and maintain the Ethereum Classic network. As users participate in various Ethereum Classic activities, they realize value. Smart contracts, dApps, and participation in governance elections are possible with ETC holdings. 

Ethereum Classic (ETC) Token Metrics
 

Where is the Ethereum Classic (ETC) coin available?

Ethereum Classic (ETC) is available on a variety of cryptocurrency exchanges. The list of quick, secure, and easy exchanges is listed below. 

• Binance
• Gate.io
• KuCoin
• Kraken
• Bittrex
   

You can check the whole list of exchanges are here to buy Ethereum Classic (ETC) 

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