Ethereum Classic ETC live coin price, charts, markets & liquidity

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Ethereum Classic was created as a hard fork of Ethereum in 2016 as the result of a hack on the Ethereum network in which DAO security was breached and 50 million dollars were stolen. To prevent potential future security breaches, the Ethereum network performed a hard fork which resulted in a split and a new cryptocurrency, Ethereum Classic. Ethereum Classic operates on the old blockchain and Ethereum on a new one that was created with the hard fork.

Market Overview

July brought new dips and Ethereum Classic traded between $13 and $19 before ETC value fell to $10 in October 2017. November brought 145% of gains with a new high price for Ethereum Classic at the value of $32, and with record-breaking transaction volumes exceeding 44 million. Ethereum Classic continued this positive momentum, breaking the resistance at $40 and reaching a new high of $42. The price of Ethereum Classic has been through lows and highs in the 5 years since its creation through an Ethereum hard fork. Trading at lows below $1 and highs above $40, Ethereum Classic price is another example of the high volatility dictating trends in the cryptocurrency market. Any data, text or other content on this page is provided as general market information and not as investment advice.

Ethereum Classic is the unforked, original history-containing version of Ethereum, supported by advocates – but not the core team of Ethereum developers. Due to a $60m hack of a third-party project in 2016, the Ethereum Foundation made the decision to hard-fork the network and restore the lost funds. However, the original network continued – renamed Ethereum Classic – championing the philosophy that smart contracts shouldn’t be interfered with, regardless of how painful a hack may be.

People Also Ask: Other Questions About Ethereum Classic

⧫ Start etc prices by submitting your hashrate and receive Ethereum Classic crypto in your wallet. The Enterprise Ethereum Alliance , which consists of JP Morgan, Credit Suisse, ING, Mastercard, Accenture, AMD, and more, also offers support. However, most of the interest from the EEA has shifted to Ethereum after the hard fork, leaving a relatively lower interest in developing Ethereum Classic. The Turing-complete programming language allows applications to run without third-party interference or the threat of censorship. The Ethereum Classic’s market is also EVM-compatible, which means that dApps designed for Ethereum can also be deployed on this network. Due to this attack, a new branch or fork of the software was developed in order to patch the security holes and return the stolen funds to the victims of the attack.

One camp believed that it was necessary to wipe off the attack from Ethereum’s history by reverting the chain so that they could maintain the network’s long-term viability. However, the opposing side argued that doing so was GALA not in line with the ethos of cryptography and thus refused to support a ledger rewrite. Ultimately, the Ethereum developers decided to create Ethereum Classic as a hard fork from Ethereum in July 2016.

As of now, Ethereum Classic price is $19.26 with Ethereum Classic market capitalization of $2,692,757,631.78. Cryptocurrency experts are ready to announce their forecast for the ETC price in April 2023. The minimum trading cost might be $20.89, while the maximum might reach $22.50 during this month. On average, it is expected that the value of Ethereum Classic might be around $21.89. Essentially, ETC can be used by Ethereum Classic users to pay the gas price for conducting transactions on the network. However, Ethereum Classic differs significantly as it is incompatible with any ETH update.

• There’s high volume coming into it with a 50% increase in the last day.
• Trading, buying or selling cryptocurrencies should be considered a high-risk investment and every reader is advised to do their own research before making any decisions.
• Ethereum Classic’s price for August 2023 according to our analysis should range between $33.95 to $39.06 and the average price of ETC should be around $36.51.
• Ethereum Classic price also showed positive momentum on a monthly basis from February to April, recording billions in trading volume and reaching a new high for the year in April at the value of $20.
• Ethereum Classic operates on the old blockchain and Ethereum on a new one that was created with the hard fork.

GSA has adjusted all POV mileage reimbursement rates effective January 1, 2023. Reward amounts will be determined based on the type and relevance of the information provided. ⧫ Set up an account with a wallet that supports Ethereum Classic crypto.

On the other hand, Ethereum’s ETH has a total supply of over 121 million at the time of writing. The ETC price action could trend higher as the Ethereum Classic ecosystem grows in the future and more dApp developers build and deploy their applications on it. This could increase the on-chain activity of the blockchain, drive the Ethereum Classic price higher, and make ETC more valuable to invest in and hold. A few minutes after your trade goes through successfully, your trading account will be funded with the new Ethereum Classic coins you have purchased. You can choose to hold them on KuCoin, or you can transfer them to your external wallet for additional security.

Classic Ethereum can be bought with fiat currencies and can run decentralized applications. This hard fork is a noteworthy one, and it has re-shaped this Ethereum blockchain as a result. Ethereum Classic is this open-sourced, decentralized as well as blockchain-based distributed cryptocurrency platform that runs smart contracts. It emerged as a split version of Ethereum’s blockchain as a result of a hack, where the newer version of Ethereum was created, but this older one carried on life. After the Ethereum hard fork, Ethereum Classic retained most of Ethereum’s original architecture and technical features and continued using the Ethereum Virtual Machine . Its blockchain is still account-based, comprising ‘contract accounts’ operated through a code , and ‘external accounts’ which are managed through private keys.

On the other hand, contract accounts are managed by the contract code and used only to conduct transactions as a response to a message. They enable the development and programming of decentralized applications on the Ethereum Classic blockchain. These costs are commonly referred to as gas fees, and they are paid to miners who use advanced computers to solve “proof-of-work” problems to help validate the network. The Ethereum Classic blockchain issues new ETC to the circulating supply to reward miners for adding new transactions to the blockchain.

In the last 24 hours, the price of Ethereum Classic decreased by 4.12%. With a circulating supply of 132,826,796 ETC and a maximum supply of 210,700,000 ETC, Ethereum Classic’s fully diluted market cap stands at –. We also gather additional information from different sources to make sure we cover all necessary data or events. Ethereum Classic is a decentralized, open-source blockchain platform, as well as a cryptocurrency.

The idea was a https://www.beaxy.com/ network for mining cryptocurrency and a software development platform for decentralized applications that worked through smart contracts. Both versions of the blockchain are built around the idea of smart contracts. Many cryptocurrency tokens and decentralized applications are based on the Ethereum blockchain network. The Ethereum Classic price is different from the non-Ethereum Classic blockchain, simply named EThereum.

• After the 2016 split from the main Ethereum blockchain, ETC was largely separated from the space of decentralized finance applications that are tied to the Ethereum blockchain.
• Ethereum is the new blockchain created after the hard fork while Ethereum Classic is the original Ethereum blockchain.
• This means that users around the world provide computational power to validate transactions and ensure the security of the network.
• Once there are sufficient assets in the wallet, swapping is possible.
• Ethereum Classic can be a solid short-term investment in the wake of network attacks.

ETC, the native coin of Ethereum Classic, is used to pay for using its computational resources. As in Ethereum, one needs to pay gas fees for the execution of smart contract functions and coin transactions. This payment goes to miners who validate transactions, perform smart contract computations and add new blocks to the chain. Besides being a payment mechanism for blockchain transactions, ETC, owing to its deflationary nature, is also used as a store of value. It aims to be the go-to platform for smart contract development which helps developers create unstoppable applications. The Ethereum Classic network is secured with a proof-of-work algorithm, but as a minority chain, it has suffered regular attacks itself.

You can also use your existing cryptocurrencies to buy ETC on the KuCoin exchange. Transfer the funds from your digital wallet and into your KuCoin trading account to use them. Yes, Ethereum Classic is legal to purchase and own anywhere where cryptocurrency is legal. Popular exchanges will automatically detect your location and adjust their availability according to your region’s financial regulations.

The current Market Cap ranking of ETC is #26, with a live market cap of $2,759,560,499.49 USD. This text is informative in nature and should not be considered an investment recommendation. It does not express the personal opinion of the author or service. Any investment or trading is risky, and past returns are not a guarantee of future returns. The price of Ethereum Classic depends on a wide variety of specific factors that help form its market value.

Attackers can “double spend”, essentially sending two transactions at the same time and doubling their tokens at no cost. In August and September of 2020, Ethereum Classic suffered three consecutive 51% attacks. Ethereum Classic is based on the older branch of Ethereum that diverged from a 2016 network hack. In response to the 2016 attack, a new blockchain for Ethereum was developed. The current version of Ethereum uses this newer blockchain, and Ethereum classic uses the old version.

The Ethereum Classic coin is among the largest crypto assets by market cap and enjoys high trading volume and liquidity on exchanges worldwide. You can buy or sell ETC, trade it against other cryptocurrencies, or choose to hold it if you believe in the long-term potential of the Ethereum Classic platform. Check the latest Ethereum Classic price, ETC market cap, and 24-hour trading volume, and perform fundamental, technical, and sentiment analysis on the Ethereum Classic price chart before entering a new trade. Despite the scandals surrounding repeated network attacks, the token still persists as a popular financial instrument. In fact, the scandal surrounding these attacks may have attracted new investors that search for volatile price changes. Mutual interest in cryptocurrencies brought Buterin and Wood together and eventually, they began to design the original concept of the Ethereum blockchain.

The DAO had a creation period where anyone was allowed to send Ether to a unique wallet address in exchange forDAO tokens within 1–100. This was an unforeseen success as it managed to gather12.7 millionEther, making it the biggest crowdfund ever. OKX offers the ETC/USDT, ETC/USDC, ETC/BTC, ETC/ETH, and ETC/OKB trading pairs. Alternatively, you can buy ETC directly with fiat or convert your crypto to ETC.