Ethereum Classic (ETC) is an open-source, public, blockchain-based distributed computing platform
What is Ethereum Classic (ETC)?
Ethereum Classic is a hard fork of the popular Ethereum cryptocurrency and it is fully decentralized, peer to peer, open source, blockchain based computing system. The currency emerged after the original Ethereum platform forked into two versions, including Ethreum Classic and Ethereum. It is similar to Ethereum, Ethereum Classic gives a decentralized, Turing – complete virtual machine, the Ethereum Virtual Machine (EVM) as well as smart contract functionality.
Ethereum Classic (ETC): History
ETC was officially released after the DAO hard form in 2016, which happened one year after the launch of Ethereum. In 2016, around 3.6 million Ether was stolen using a known security flaw in Ethereum and after much deliberation, the governing council decided to perform a hard fork of the existing system. But some Ethereum users denied this idea and continued to use the classic Ether. In October 2016, Ethereum Classic underwent a hard fork to adjust the internal pricing for running a key network component, Ethereum Virtual Machine.
How Does Ethereum Classic (ETC) Work?
Ethereum Classic is similar to Ethereum in its working procedure. It is a fully decentralized cryptocurrency which works without having any central authority or repository. Every transaction between two Ethereum Classic users transfers peer to peer with the miners keeping a record of the transaction and approving transactions. In Ethereum Classic, the nodes in the network keep the recent state of the network which includes the user’s balance, smart contracts and where the Ethers are stored. It 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)?
First of all, you need to create an Ethereum Classic wallet to store your coins. Then give a password for the wallet. If you forget the password, you will lose access to your coins. Then you can buy Ethereum by using Coinbase. After that, exchange it for Ethereum Classic.
Ethereum Classic (ETC) Price Prediction 2018
ETC can be a profitable investment option. Ethereum Classic price equal to 35.665 USD at 2018-02-14. If you buy Ethereum Classic for 100 dollars today, you will get a total of 2.804 ETC. Based on our forecasts, a long-term increase is expected, the price prognosis for 2023-02-09 is 159.916 US Dollars. With a 5-year investment, the revenue is expected to be around +348.38%. Your current $100 investment may be up to $448.38 in 2022. Ethereum Classic (ETC) price today is $36.11 and have the current supply of 99,844,508 ETC. The market cap value is $3,605,724,655 and the volume is marked as $1,427,620,000. Ethereum Classic price prediction, Ethereum Classic price forecast, Ethereum Classic price and news, ETC price forecast, ETC price prediction 2018, What is the price of Ethereum Classic 2018.