Coinbase is one of the most popular cryptocurrency exchanges and allows you to buy and sell Bitcoin, Ethereum, and Litecoin. However, you may be wondering what ETC is and why it’s on Coinbase.
ETC is short for Ethereum Classic. It’s a fork of the Ethereum blockchain that occurred in 2016.
The fork happened because of a disagreement over how to handle the DAO hack. The DAO was a decentralized autonomous organization built on Ethereum that was hacked and lost $50 million worth of Ether.
The hard fork to create Ethereum Classic came about because some people thought that the funds should not be recovered and that the Ethereum blockchain should remain immutable. The people who disagreed with this hard fork continued to use the Ethereum Classic blockchain.
Coinbase added ETC to its platform in 2017 because it believed that it was an important part of the cryptocurrency ecosystem. Coinbase has been very supportive of Ethereum Classic and its community.
ETC is a great option for those looking for an alternative to Ethereum or Bitcoin. It has a strong community behind it and Coinbase is a great platform to buy and sell it on.