Ethereum Classic (ETC) is one of the most well-established cryptocurrencies, offering decentralized smart contract functionality alongside Bitcoin, Ethereum, Tether, and Solana.
What Is Ethereum Classic (ETC)?
Ethereum Classic originated from a hard fork of the Ethereum network on July 20, 2016, initiated by the Ethereum Foundation. This split occurred after "The DAO" hack, where $60 million worth of Ether (ETH) was stolen. The fork restored the stolen funds to their original owners while creating two separate blockchains:
- Ethereum (ETH): The new, updated chain continuing under the Ethereum name.
- Ethereum Classic (ETC): The original blockchain retaining its pre-fork history.
Key Features of Ethereum Classic
- Proof-of-Work (PoW) Consensus: Like Bitcoin, ETC relies on miners to validate transactions and secure the network.
- Fixed Supply Cap: ETC has a maximum supply of 210.7 million coins, released gradually in a deflationary manner.
- Smart Contract & NFT Support: Fully compatible with Ethereum-based decentralized applications (DApps).
- Mining Accessibility: Anyone with computational resources can participate in ETC mining to earn rewards.
👉 Explore Ethereum Classic trading pairs
How to Buy Ethereum Classic (ETC)?
Step-by-Step Purchase Guide
- Choose a Crypto Exchange: Select a platform that supports ETC trading (e.g., OKX, Binance).
- Create an Account: Complete KYC verification for security.
- Deposit Funds: Use a credit card, bank transfer, or other payment methods.
- Buy ETC: Search for ETC trading pairs (e.g., ETC/USD) and execute your purchase.
- Secure Storage: Transfer ETC to a private wallet for long-term holding.
FAQs About Ethereum Classic
1. Is Ethereum Classic the same as Ethereum?
No. Ethereum Classic is the original chain, while Ethereum (ETH) is the post-fork version. Both support smart contracts but differ in governance and supply mechanisms.
2. Can I mine Ethereum Classic?
Yes! ETC uses PoW, allowing miners to earn rewards with computational power.
3. Where can I store ETC securely?
Hardware wallets (Ledger, Trezor) or reputable software wallets (MetaMask) are recommended.
4. Why does ETC have a fixed supply?
Its capped supply mimics Bitcoin’s scarcity model, reducing inflation risks.
5. Is ETC a good investment?
ETC offers long-term potential due to its niche as an original smart-contract chain, but always research market trends before investing.
Key Takeaways
- Ethereum Classic (ETC) is the unforked version of Ethereum with a 21-million-coin cap.
- It supports smart contracts, NFTs, and DApps, similar to Ethereum.
- Purchase ETC via exchanges using credit cards, bank transfers, or crypto swaps.
For real-time ETC price tracking and trading, visit 👉 OKX’s ETC market.