The Ethereum Classic coin is on the hot seat once again.
Ethereum classic’s main function is via smart contract networking services. In addition, it will be having the ability to conduct and support the Dapps. During its debut, it greatly affects the decentralized autonomous organization or DAO. Decentralized autonomous organization DAO gained a tremendous increase of US$150M in its incoming coin offering or ICO.
Ethereum Classic ETC aims at the preservation of Ether’s blockchain system. After an issue that led to a humongous 3.6M worth of stolen Ethereum coin ETH. Moreover, that disaster had led to the Ethereum ETH’s price decline as holders became uneasy regarding its security.
Ethereum classic: the circulation in terms of numbers
Its maximum supply is 210,700,700. In addition, it is 10 times greater than Bitcoin or BTC. On the flip side, Ethereum has no cap.
Ethereum Classic’s main function is having PoW in the field mining algorithms. Ethereum Classic ETC is the reward for those miners who validate the blockchain services. The block reward then decreases as time passes by.
It’s expected this April 2022 that a drop in Proof of work PoW will occur at block 15,000,000. Furthermore, after leaving the price from 3.2 Ethereum Classic down to 2.56 Ethereum Classic per block.
With no plans to convert proof of stake in mining algorithms. The ETC makers are working continuously in order to improve its scale of solution services.
How about its security?
While Ethereum ETH coin experienced a series of security issues in the past, Ethereum Classic ETC then was secured. In addition, using proof-of-work PoW as its function. But as a minority in the crypto world, it also suffered regular attacks itself.
Blockchain technology is deemed as one of the most complex systems on the internet. Hence, it is also costly to work with it thus, making it impossible to breach.
Ethereum Classic ETC coin is fueled by blockchain technology. Furthermore, that answers the security questions of the warry clients.
Where to get one?
ETC is traded in different types of cryptocurrency exchanges such as Binance, Coinbase, OKex, etc.
- First, you need to register in one of those exchanges.
- Second, fund your cryptocurrency account and buy your own Ethereum Classic ETC coin.
- Last, be extra careful in terms of the transferring of funds because it is irreversible. Meaning if you have a single mistake then your money will be good as forgotten
According to Coinbase, ETC is currently at the price of US$85.49 with a decrease of 15.37% in the 24 hours time frame. Its market cap value is US$9.91B with a US$7.22B volume as of the time that this is written.
As the cryptocurrency market marches to some hurdles, Ethereum classic goes with it.
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