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Ethereum Classic (ETC) price, chart, coin profile and news
Find the latest Ethereum Classic (ETC) price, coin profile, news and history to get you started with Ethereum Classic trading and investing.
What is Ethereum Classic?
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 22nd largest cryptocurrency in the world by market cap, valued at $3,925,279,829. The current price of Ethereum Classic is $28.72, which is 3.203% higher than yesterday. Prices have ranged between $28.65 and $27.19 over the past 24 hours. All prices are listed in US dollars and accurate as of October 06, 2022 02:10 UTC.
What is Cardano?
ADA is the native cryptocurrency of the Cardano blockchain. The primary use of the coin lies within the network's proof-of-stake mechanism.
This involves token holders locking away (staking) ADA coins to validate transactions and secure the blockchain.
A transaction fee must be paid in ADA when using the Cardano blockchain. This allows validators in the network to complete the transfer within Cardano's settlement layer (see below for more details). All applications that are built on the Cardano blockchain will use ADA for transactional fees.
The coin also carries monetary value and, therefore, can be used to transact between friends, pay for goods and services and deposit funds on an exchange or decentralised application.
The supply of tokens is capped at a maximum of 45 billion ADA. Cardano is being built with two layers – the Cardano Settlement Layer and the Cardano Computation Layer. The two layers provide the flexibility businesses need to tailor smart contracts to their requirements.
- Cardano Settlement Layer. The settlement layer acts as the platform's balance ledger. It uses a proof-of-stake (PoS) algorithm to generate new blocks and confirm transactions.
- Cardano Computation Layer. The execution layer for smart contracts. The Cardano team will soon be launching a new programming language (Plutus) that will be used to build smart contracts.
Instead of using a proof-of-work consensus algorithm like Bitcoin, Cardano uses a proof-of-stake algorithm called Ouroboros. Under this system, blocks are generated and transactions verified by slot leaders, or validators. Anyone who holds ADA tokens can become a slot leader, with slot leaders randomly chosen using a coin-flipping protocol.
Ethereum Classic (ETC) priceUse our graph to track the performance of (ETC) over time.
Ethereum Classic at a glance
|Total ETC supply||210,700,000|
|All time high||US$167.09|
|All time high date||May 06, 2021|
|Notable team members||Vitalik Buterin, Gavin Wood|
|Token uses||Utility token, digital currency|
Ethereum Classic price performance over time
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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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