$ 6.99 right now
Trade name: ETC
Year of Foundation: 2015
What is Ethereum classic?
Ethereum classic is an open source platform that features smart contracts functionality. It provides the Ethereum Virtual Machine, a decentralized Turing-complete machine. The EMV is capable of executing scripts using an international network of public nodes. Apart from this, it provides the classic ether that can be transferred between participants. The coin can be stored in any cryptocurrency wallet.
This coin is merely a fork or the Ethereum platform together with Ethereum. Before that, the token was only known as Ethereum. So the new fork tokens kept the name Ethereum while the old token became Ethereum classic.
How does Ethereum classic work?
The entire system of Ethereum classic works on smart contracts. The Turin-complete virtual machine is responsible for executing the contracts.
In May 2016 DAO raised $168 million to invest in a project based on smart contracts. A paper came out the same month with detailed vulnerable points within DAO. This was confirmed later, and debate came up with the community and some members wanted a hard fork. However, some rejected this idea, and Ethereum classic came into existence in July 2016.
How to use Ethereum classic
You can use Ethereum classic if you have a Classic Ethereum Wallet. The wallets are very easy to use, and steps are given to follow. In fact, this is the very most common coins are it is easy to get the wallet online.
To receive ETC you only need to provide the wallet address to the sender and confirm the transaction. It is not compulsory that you use the wallet to verify transactions.
In case you forget your public address, you can quickly get it again using the .json file you had created earlier with your CEW or the hardware wallet. Following simple steps click on unlock and follow the procedure.
To send ETC, you will the .json file too. Together with this, you will need your private keys, memory phrase or the hardware wallet. Click on “send ether and tokens” than select the method you want to use on the left, follow the instructions in the middle of the screen then click “unlock.” After this, click on “generate transaction” then “send.”
Ethereum classic price
ETC today is at USD 15.13 with a market cap of USD 1543749267.