Ethereum Classic price

Ethereum Classic data

Ethereum Classic (ETC) appeared in 2016 after the Ethereum Hard Fork (ETH), with which part of the community did not agree. The fact is that the Ethereum blockchain was based on the implementation of smart contracts and decentralized applications. And the existing DAO smart contract worked as a venture fund, the participants of which distributed their capital by voting. But the hacker attack on the vulnerability of the smart contract allowed attackers to steal more than 360 million ETH.

The founder of the Ethereum cryptocurrency Vitalik Buterin, together with members of the DAO fund, decided to rollback the Ethereum blockchain to an earlier version, which allowed to return the lost tokens. But part of the community did not agree with this, arguing this with the thesis "code is the law". So there was an alternative coin Ethereum Classic.

At first, the existence of Ethereum Classic (ETC) was a very controversial issue. But based on the principles of the immutability of the blockchain, where it is forbidden to edit the registry and cancel any transactions, the new-old token was accepted.

Despite the same roots, cryptocurrencies have many differences. The philosophy of ETC is fully based on smart contracts and decentralization, which in the future should replace the services of banks, brokers, and intermediaries in financial transactions.

Ethereum Classic smart contracts are executed by the Ethereum Virtual Machine EVM. Which works on the principle of Alan Turing and is able to execute any computer algorithm. Thus, Ethereum Classic ETC is not just a decentralized currency, but a tool for creating a future supercomputer based on the principles of decentralization. As for the coin itself, the difference between ETC and ETH is that Ethereum Classic is mined using the "proof of work" algorithm. And Ethereum is getting harder to mine with each new block. Presumably, by 2025 ETC emission should reach a maximum of 210 million coins, at this stage inflation will stop.

Today, you can buy Ethereum Classic on many popular crypto exchanges, and its price is much lower than Ethereum. A huge variety of wallets are available for storing a coin, from hardware to mobile or officially offered “Ethereum Classic Emerald”. Coins can be mined in the popular mining pools.

The Ethereum Classic team focuses on the immutability of the blockchain. In solving any issue, this will be paramount. After all, cryptocurrencies appeared as an alternative to banks, where the human factor decided. And the Ethereum Classic developers, together with the project’s audience, believe that in the world of blockchain code manipulations are unacceptable. You can see the latest coin information, including capitalization, exchange rate, and forecasts at Neironix.i