Cryptocurrency Ethereum Classic: overview, course and chart, forecast and prospects, how to buy or sell cryptocurrency

331

Ethereum Classic is a cryptocurrency that runs on an advanced blockchain. The ecosystem includes digital coins, community, network, smart contracts. The main focus is on censorship resistance and contract autonomy. The editorial staff of Btcnewsweb.com will tell you in detail about the ETC cryptocurrency, its prospects, ways of buying and selling.

See also: How to Buy or Sell Ethereum Classic.

ETC price to USD

Name Price Market Cap Supply Change % (7D) Performance
Ethereum Classic ETC
$23.38
$3,253,825,453.49 139171319.65326 ETC
+3.96%

ETC to USD chart

Characteristics

Indicators of the Ethereum Classic cryptocurrency as of April 18, 2019:

CryptocurrencyEthereum Classic
TickerETС
Capitalization690,859,212.57$
Course6,29$
Ranking place19
Current issue109,834,533 ETC
Maximum emission230,000,000 ETC
Websitehttps://ethereumclassic.org/
Blockchain Explorergastracker.io
Twitterhttps://twitter.com/eth_classic
ExchangesBinance, EXMO, Huobi, OKEx, Crex24, Livecoin, Kucoin, etc.
ConsensusProof of Work (PoW)
Mining algorithmEthash
Project launch year2016

Road map:

Ethereum Classic (ETC) to Tether (USDT) chart

Ethereum Classic (ETC) vs Tether (USDT) chart according to Binance exchange data:

Ethereum Classic (ETC) Review

ETC has a lot of activity compared to many other blockchains, almost the same as Litecoin. Several development teams are working on the system, and all of them are aimed at the long-term development of the project. Ethereum Classic is in the top 10 in terms of programmer activity and has several large sources of funding, so there is reason to believe that over time, the network will become more high-quality and publicly available.

Key principles:

  1. Technological blockchain and advanced smart contracts.
  2. Strong enough community.
  3. A conservative approach to change.

How to buy or sell Ethereum Classic (ETC)

There are the following ways to buy or sell Ethereum Classic cryptocurrency:

  1. Crypto exchanges.
  2. Cryptocurrency exchangers.
  3. P2P exchangers.
  4. Cryptocurrency wallets.
  5. Telegram bots.

Exchanges

ETC is traded on most major exchanges. The most popular of them are Binance (the world’s largest in terms of trading volume) and Eksmo (focused on working with fiat).

To trade, you need to create an account, top up your balance and select a currency pair in the trading terminal. After analyzing the chart, trading history, order book, you should create an order to buy or sell Ethereum Classic.

ETC / BTC, ETC / USD, ETC / RUB pairs are available on the Exmo exchange:

On Binance: ETC / BTC, ETC / BNB, ETC / ETH, ETC / USDT.

Exchangers

An easier and faster way to purchase Ethereum Classic or exchange it for another currency, for example, rubles and dollars. Choose a reliable exchanger from the list and proceed with the operation. The trusted services are ProstoCash, 60cek, Kassa.

To create an order, select the exchange directions, for example, Sberbank – Ethereum Classic; indicate the quantity; wallet to receive (address of the ETC cryptocurrency); card or account number from which the payment will be made; email; click Exchange and follow the instructions.

Description of the project, history of creation

In May 2016, the DAO venture fund, formed on the basis of Ethereum, raised about $ 168 million with the intention of investing in sites using smart contracts. At the same time, a document was released detailing the DAO security vulnerabilities that could allow ETH coins to be stolen. In June, 3,600,000 ETH were withdrawn from DAO accounts – they were moved to another account without obtaining the consent of the owners, using one of the vulnerabilities announced in May.

Community members wondered what actions could be taken in this situation – and as a result of a vote in July 2016, a decision was made to hard fork Ethereum.

This is how Ethereum Classic appeared – many members of the Ethereum community spoke out against it, basing their arguments on the immutability of the blockchain. The new project is not officially supported by the Ethereum Foundation.

Cryptocurrency peculiarity, technical implementation

Ethereum Classic (ETC) technology, according to the plans of the developers, should affect different industries – government, finance, supply management, etc., with special attention being paid to the formation of a full-fledged Internet of things. The computer that unites all devices in the Ethereum Classic network into one whole is called the ETC virtual machine, and blockchain technology is also used. Their combination gives several distinctive features:

✅  Resistance to censorship. It is almost impossible to deny access to information or interrupt code execution.

✅  Safety. The main purpose of cryptography.

✅  Aliases. Users have pseudonyms while maintaining complete anonymity.

✅  Transparency. All software is open source, all actions are available for verification.

✅  Reliability. The network is always available, it cannot be closed.

✅  Confidence. You don’t have to rely on any organization or individual.

All properties, except for the last one, can be organized without blockchain. For example, consider a properly configured web server with several identical backup servers scattered geographically. However, all these actions will require a huge amount of effort, while in the Blockchain network, all the properties listed above are available by default.

Advantages and disadvantages

The main advantages of the Ethereum Classic cryptocurrency are:

  1. Stable structure. The developers believe that the founders of the original Ethereum destroyed the basic principles of cryptocurrency platforms – freedom of choice and maximum decentralization. The fork tried to fix it.
  2. High liquidity. Ethereum Classic has always shown excellent trading volume indicators, in some cases they even exceeded those of Ethereum.
  3. Many large investors are willing to invest in the development of the project.

The disadvantages of Ethereum Classic are standard and inherent in almost all cryptocurrencies. This is the complexity of mining, the inability to get your money back in case you lose access to the wallet, high volatility, mistrust on the part of the authorities. Therefore, as is the case with any other cryptocurrency, investing in Ethereum Classic must be aware of the risks and be careful.

Wallets

The official wallet for storing ETC is the Emerald Wallet. It is a multi-platform desktop wallet with support for Ethereum Classic and Ethereum, as well as other ERC-20 compliant tokens. Private keys are stored in secure local storage. It can work in conjunction with hardware wallets (Ledger Nano, Trezor).

The Resources section on the official website ethereumclassic.org/resources contains a list of wallets for Ethereum Classic: Atomic Wallet, Daedalus, Mantis, Emerald, Exodus, Guarda, Parity, Classic Ether Wallet, My Ether Wallet, MyCrypto, SATURN Wallet; Coinbase Wallet, JAXX, Coinomi, Trust Wallet.

Mining

The method of mining the Ethereum Classic coin is similar to that used by its progenitor. The algorithm is also the same. Classic ether is most often extracted using video card farms. To start mining, you will need:

✅  created ETC wallet;

✅  connection to a mining pool working with this coin;

✅  a farm of 4-6 or more modern powerful video cards;

✅  special software, properly configured.

It is important to have a stable and fast internet connection and reinforced indoor wiring.

Prospects and forecast

Immediately after its creation, Ether Classic was supported by the large crypto exchange Poloniex, which aroused user confidence. True, in the future, some were disappointed in the coin, considering its value too high by speculation.

The principle of complete non-interference in the blockchain is also a medal on two sides – yes, thus the participants are confident in the complete decentralization of the network. But at the same time, if the funds are lost as a result of a hacker attack or for other reasons, then it will not be possible to return them.

So far, the value of ETC is quite stable, but experts believe that it has an upward trend. If the situation does not change, then classic broadcast will be considered an option for long-term investments.

Leave A Reply

Your email address will not be published.