Ethereum Classic (ETC)
Mar 21, 2018 - 10:54:07 AM UTC
Value and price movement of ETC is different in USD and BTC markets.
Price has moved 11.33% (USD) or 4.91% (BTC) in the last 24h.
Market Cap Rank: 16. of 1000+
Ethereum Classic trading volume was 424,705,000 USD in the last 24h with circulating supply of 100,653,515 ETC.
Ethereum Classic (ETC)
Ethereum Classic (ETC) Price graph
Ethereum Classic (ETC) price in fiat
About Ethereum Classic (ETC)
Ethereum Classic is a split from Ethereum. Both blockchains are identical in every way up until block 1920000 where the hard-fork to refund The DAO token holders was implemented, meaning that all the balances, wallets, and transactions that happened on Ethereum until the hard-fork are still valid on the Ethereum Classic Blockchain. After the hard-fork, the blockchains were split in two and act individually.
Ethereum Classic offers some same features as Ethereum, such as the creation and deployment of smart contract and Decentralized applications, and has all the same specifications, such as average block time, size and reward.
However, there are now two slightly different versions of this platform that are available to users – ethereum, the ‘official’ version of the blockchain maintained by its original developers, and ethereum classic, an ‘alternative’ blockchain maintained by a wholly new team.
The ethereum classic team currently has four developers, according to its lead organizer (named Arvicco), but theoretically, anyone can join. Just like ethereum itself, ethereum classic is supported by an open-source community.
As ethereum classic is a replica of the original blockchain, except for a few key changes regarding the DAO transaction reversals, everyone who had tokens on ethereum at the time of the fork got the same amount of tokens on ethereum classic (which is essentially free money).
Still, Ethereum Classic can be considered a different cryptocurrency from Ethereum. They have different Blockchains and are independent of one another. But they have the same features and even shared the same blockchain (Ethereum) until the hard-fork was introduced, which caused the blockchain to split in two .
The question of what gives Ethereum Clasic value is still up for debate, but in short, it has value because people believe in the project, and those interested in supporting it can invest in or speculate on the market now that it’s listed on exchanges.