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Ethereum Classic is the original Ethereum blockchain. It’s an open-source, peer-to-peer platform where developers can implement dapps and smart contracts.
Smart contracts are decentralised applications (dapps) that are made to run exactly as programmed without downtime or third-party interference, and Ethereum’s popularity has seen it become one of the world’s largest digital currencies. In June 2016, the decentralised autonomous organisation (DAO), a venture capital fund running on the Ethereum platform, was hacked and more than US$50 million was stolen. However, the Ethereum community was split on how to respond to the attack. Some wished to modify the code and return the ETH to its original owners – however, this goes against the core principle of blockchain immutability. The majority of the community favoured code modification, so Ethereum underwent a hard fork to revert the hack. However, a smaller section of the community decided to keep the main code exactly as it was, with this currency coming to be known as Ethereum Classic.
Ethereum Classic’s native token (ETC) is used to fuel transactions on the network and is responsible for governance.
Ethereum Classic (ETC) is the 23rd largest cryptocurrency in the world by market cap, valued at $3,814,395,861. The current price of Ethereum Classic is $27.79, which is -2.072% lower than yesterday. Prices have ranged between $28.6 and $27.63 over the past 24 hours. All prices are listed in US dollars and accurate as of October 07, 2022 03:10 UTC.
Binance Coin (BNB) is the token native for Binance and its blockchain-based ventures. The coin can be used to interact with the Binance cryptocurrency exchange as well as the ever-evolving DeFi ecosystem on the Binance Smart Chain network.
On the Binance exchange, BNB provides users with discounts on trading fees, serves as a trading pair for coins and is used on the Binance Decentralized Exchange (DEX). Fees paid in BNB are periodically “burnt”, which means they are permanently removed from circulation, which in turn decreases the supply and theoretically increases the value. Binance will continue to burn coins until the supply is reduced from 200 million to 100 million.
BNB is also used on the exchange to participate in launchpad events, which are similar to Initial Coin Offerings (ICO).
On the Binance Smart Chain (a smart contract platform developed by Binance based on Ethereum’s codebase), BNB is used to pay gas fees and has a central role in many DeFi applications (dapps). In this way, it is very similar to the role of ETH on Ethereum.
For instance, users can deposit BNB to provide liquidity on the PancakeSwap DEX or be traded for BEP-20 tokens (The BSC version of ERC-20 tokens).
| Coin symbol | ETC |
|---|---|
| Coin Marketcap | US$3,814,395,861 |
| Total ETC supply | 210,700,000 |
| Circulating ETC | 137,247,126 |
| Current price | US$27.79 |
| All time high | US$167.09 |
| All time high date | May 06, 2021 |
| Notable team members | Vitalik Buterin, Gavin Wood |
| Partnerships | Chainalysis, Filecoin |
| Industry | Blockchain platform |
| Token uses | Utility token, digital currency |
| Network | Ethereum |
Historical prices compared with the price of US$27.79.
| 1 hour | -0.08% |
|---|---|
| 24 hours | -2.07% |
| 7 days | -0.02% |
| 14 days | -3.38% |
| 30 days | -20.09% |
|---|---|
| 60 days | -26.57% |
| 200 days | -27.38% |
| 1 year | -49.51% |
Disclaimer: Cryptocurrencies, including Ethereum Classic, are speculative, complex and involve significant risks – they are highly volatile and sensitive to secondary activity. Performance is unpredictable and past performance of ETC is no guarantee of future performance. Consider your own circumstances, and obtain your own advice, before relying on this information. You should also verify the nature of any product or service (including its legal status and relevant regulatory requirements) and consult the relevant Regulators' websites before making any decision. Finder, or the author, may have holdings in the Ethereum Classic or any other cryptocurrency discussed.
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