Market Cap
$3,819,401,998.8
Fully Diluted Valuation
$5,349,738,983.5
24 Hour Trading Vol
$368,208,080.8
Circulating Supply
150,427,526.2
Total Supply
210,700,000.0
Max Supply
210,700,000.0
Ethereum Classic Price
$25.39
24h Range
$25.03 - $27.71
Percent Change 1h
-0.98%
Percent Change 24h
1.33%
Percent Change 7d
2.91%
All-time high
$167.09
All-time low
$0.615
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7D
1M
1Y
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Ethereum Classic (ETC) is a decentralized blockchain platform that enables the creation of smart contracts and decentralized applications (dApps). It is the original version of Ethereum, which was launched in 2015, but it underwent a split in 2016 due to a significant disagreement within the community regarding how to handle a hack that exploited a vulnerability in the DAO (Decentralized Autonomous Organization). The split resulted in two separate blockchains: Ethereum (ETH) and Ethereum Classic (ETC). As of 2024, Ethereum Classic continues to operate with its own distinct network and protocol, maintaining the original ethos of immutability and decentralization.
The primary figures behind the creation of Ethereum, and subsequently Ethereum Classic, include Vitalik Buterin, Gavin Wood, Joseph Lubin, and Anthony Di Iorio. However, after the DAO hack and the subsequent hard fork, the Ethereum Classic community emerged, advocating for the original blockchain. Some notable contributors to Ethereum Classic's development include Charles Hoskinson, one of the co-founders of Ethereum, who continued to support the principles of ETC. The community-driven approach means there isn't a single founder but rather a collective of developers and supporters who contribute to the project.
Ethereum Classic operates on a proof-of-work (PoW) consensus mechanism, similar to Bitcoin, to validate transactions and secure the network. Miners compete to solve complex mathematical problems, and upon solving them, they add new blocks to the blockchain. The native cryptocurrency of Ethereum Classic is ETC, which is used to pay for transaction fees and computational services on the network. Ethereum Classic supports smart contracts, enabling developers to deploy applications without intermediaries. It utilizes the Ethereum Virtual Machine (EVM), ensuring compatibility with Ethereum's programming language, Solidity. As of 2024, Ethereum Classic has seen improvements in scalability and security, with ongoing development efforts focused on enhancing its infrastructure.
1. Decentralized Finance (DeFi): Ethereum Classic supports various DeFi applications that facilitate lending, borrowing, and trading without intermediaries, allowing users to retain control over their assets.
2. Non-Fungible Tokens (NFTs): The platform can also host NFT marketplaces, enabling users to create, buy, and sell unique digital assets.
3. Smart Contracts: Developers utilize Ethereum Classic to build and execute smart contracts for various industries, including finance, gaming, and logistics.
4. Decentralized Applications (dApps): ETC allows the development of dApps that operate without central control, enhancing transparency and security.
5. Tokenization of Assets: Ethereum Classic can be used to tokenize real-world assets, making them accessible and tradable on the blockchain.
1. Use Hardware Wallets: Store your ETC in hardware wallets like Ledger or Trezor, which provide offline storage and enhanced security against hacks.
2. Enable Two-Factor Authentication (2FA): If you use exchanges or online wallets, enable 2FA to add an extra layer of security.
3. Keep Software Updated: Regularly update your wallet software and any applications you use to interact with Ethereum Classic to protect against vulnerabilities.
4. Beware of Phishing Attacks: Always verify URLs and be cautious of unsolicited communications requesting personal information or private keys.
5. Backup Your Wallet: Regularly backup your wallet and securely store recovery phrases in multiple locations to prevent loss of access.
6. Use Strong Passwords: Create complex passwords for your wallets and accounts and avoid using the same password across multiple platforms.
Investing in Ethereum Classic (ETC) or any other cryptocurrency involves several steps:
1. Choose a Reliable Exchange: Select a reputable cryptocurrency exchange platform like Coinbase, Binance, or Okx. These platforms allow you to buy, sell, and trade cryptocurrencies.
2. Create an Account: Sign up for an account on your chosen exchange by providing the necessary personal information and completing the verification process.
3. Fund Your Account: Deposit funds into your exchange account using various methods like bank transfers, credit/debit cards, or wire transfers.
4. Buy Ethereum Classic: Once your account is funded, you can purchase Ethereum Classic directly from the exchange. Choose the desired amount and complete the transaction.
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Ethereum Classic (ETC) is currently trading at $25.39 and exhibits good potential for future growth. Check the latest Ethereum Classic (ETC) price prediction.
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