Eth’s humble underdog is entering the spotlight.
What is ETC?
Ethereum Classic or ETC was launched in July 2016 as a hard fork of the 2nd ranking cryptocurrency Ethereum. Having a legacy chain of Ethereum, it was created by Vitalik Buterin and Gavin wood.
Its main function is smart contract network and having the ability to host and support decentralized applications Dapps. During its release, it impacted the decentralized autonomous organization DAO.
DAO raised an approximate amount of US150M in the incoming coin offering ICO in the earlier months.
ETC first set out to preserve Eth’s blockchain integrity after a controversy occurred that led to a 3.6M stolen ETH. During that incident the ETH plummeted hard as investors became wary of its security.
ETC circulation in terms of numbers
ETC max supply is 210,700,700. Ten times greater than the king of cryptocurrency Bitcoin. On the other hand, ETH has no cap.
Having PoW or proof of work mining algorithms is its function. ETC is the reward for miners that are validating the blockchain. ETC block rewards decrease with respect to time.
The next drop in PoW will occur this April 2022 at block 15,000,000. Moreover, leaving the price from 3.2 ETC down to 2.56 ETC a block.
With no plans to convert PoS mining algorithms, developers are working continuously to improve its scale of solutions.
ETC in terms of Security
While ETH experienced a controversy, ETC then is secured using proof-of-work. But as a minority chain, it suffered regular attacks itself.
Blockchain is considered as one of the most complex systems. Furthermore, is also expensive to work with it making it impossible to be hacked.
ETC is powered by blockchain technology and that alone can answer the question in terms of security.
Where can we obtain it?
Etheruem classic is widely traded in different cryptocurrency exchanges such as Binance, Coinbase, OKex, etc.
ETC is currently at the price of US$48.49 with an astonishing increase of 48.35%. Its market cap value is US$5.61B with a US$12.95B volume.
As the cryptocurrency market surges, ETC goes with it and will definitely be good for those who are holding ETC tokens.
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