Ethereum Classic is a decentralized platform that runs smart contracts: applications that run exactly as programmed without any possibility of fraud or third party interference.
Ethereum Classic is a continuation of the original Ethereum blockchain – the classic version preserving untampered history; free from external interference and subjective tampering of transactions.
Ethereum Classic is a public, open-source, blockchain-based distributed computing platform featuring smart contract (scripting) functionality. It provides a decentralized Turing-complete virtual machine, the Ethereum Virtual Machine (EVM), which can execute scripts using an international network of public nodes.
The native cryptocurrency of the platform is called “Ether”, with a smaller unit called “Wei”. It is listed under the ticker symbol ETC on digital currency exchanges.
NOTE: Warning: Investing in Ethereum Classic is a high-risk venture and its future value cannot be predicted. Ethereum Classic is not a regulated currency and is subject to market volatility. You should always research any investment thoroughly before making a decision and invest only what you can afford to lose.
gas, and used to pay transaction fees for other transactions on the network.
As of September 2018, Ethereum Classic’s market capitalization was US$1.64 billion, and it ranked 19th on CoinMarketCap’s list of largest cryptocurrencies by market cap.
In 2016, a decentralized autonomous organization called The DAO, built on top of the Ethereum smart contract platform, raised US$150 million worth of Ether from investors to fund project development. However, due to a vulnerability in The DAO’s code, an attacker was able to drain approximately one third of The DAO’s funds to an account they controlled.
This event caused a hard fork in the Ethereum blockchain, with the new chain reverting the theft and returning the stolen funds to their original owners; while the original chain continued unaltered. As a result of this event, Ethereum Classic came into existence as a separate cryptocurrency on the original blockchain.
7 Related Question Answers Found
When it comes to Ethereum Classic, things are a bit different than they are with other cryptocurrencies. For one, this is a fork of the original Ethereum blockchain. What that means is that when the Ethereum network hard forked back in 2016, those who disagreed with the fork kept the original blockchain going – and that’s what we now know as Ethereum Classic.
It’s impossible to predict how much Ethereum will be worth tomorrow because its price is determined by supply and demand on cryptocurrency exchanges. However, we can make some educated guesses based on Ethereum’s past price movements and the current state of the cryptocurrency market. Ethereum has been one of the most volatile cryptocurrencies in existence.
Ethereum, the world’s second-largest cryptocurrency by market value, has seen its price skyrocket in recent months. The digital currency hit an all-time high of $4,200 on May 11, 2021, according to data from CoinMarketCap.com. That’s up from just $130 at the start of 2017.
Ethereum is a public, open-source, decentralized platform that runs smart contracts on a blockchain. Ethereum is the second-largest cryptocurrency by market capitalization after Bitcoin. As of January 2021, Ethereum was trading at around $1,200.
Ethereum Classic is a decentralized platform that runs smart contracts: applications that run exactly as programmed without any possibility of fraud or third party interference. Ethereum Classic is a continuation of the original Ethereum blockchain – the classic version preserving untampered history; free from external interference and subjective tampering of transactions. Ethereum Classic is a public, open-source, blockchain-based distributed computing platform featuring smart contract (scripting) functionality.
It’s impossible to predict the future price of any asset, let alone a highly volatile one like Ethereum. However, there are a few factors that could affect its price in 2025. Ethereum’s price is directly affected by the demand for its native token, ether.
When it comes to digital currencies, there is no doubt that Bitcoin is the king. The original cryptocurrency has been around for over a decade and has a market cap that is significantly higher than any other altcoin. However, there is one digital currency that has the potential to overtake Bitcoin in terms of market cap, and that is Ethereum.
