What is Ethereum Classic (ETC)? And how does it work? Who made? Should I invest in it? Its History, Future, FAQ NPRBG
ETHEREUM CLASSIC:- Hello friends, you all know that the crypto market is such a market, where we get to hear and see something new every day. All of you must have heard about the Ethereum coin in such a situation. But have you ever heard of Ethereum Classic?
A lot of people are investing in this coin because some people say that the price of Ethereum classic coin can touch Ethereum.
You must have searched a lot on the internet about Ethereum Classic. But you may not have got proper information about Ethereum Classic. But today we are going to give proper information about Ethereum Classic.
Such as:- What is Ethereum Classic, How does Ethereum Classic work, who is the founder of Ethereum Classic, what is the history of Ethereum Classic as well as will learn about the supply and market cap of Ethereum Classic coin? So let’s know what is Ethereum Classic.
Table of Contents:-
What is Ethereum Classic (ETC)?
Ethereum Classic (ETC) is a hard fork of Ethereum (ETH), which was launched in July 2016. Its main function is as a smart contract network, with the ability to host and support decentralized applications (DApps). Its native token is ETC.
Since its launch, Ethereum Classic has tried to differentiate itself from Ethereum, with the technology roadmaps of the two networks separating from each other over time.
Ethereum Classic was first created to maintain the integrity of the existing Ethereum blockchain, beginning with a major hacking incident. Where 3.6 million ETH was stolen.
Who created the Ethereum Classic (ETC)?
Ethereum Classic is actually Ethereum’s legacy chain and was created by Ethereum developers Vitalik Buterin and Gavin Wood.
A controversial hard fork on Ethereum occurred in July 2016, when participants disagreed on whether to back the blockchain to nullify the effects of a major hack. This affected The DAO, a decentralized autonomous organization (DAO), which raised about $150 million in an initial coin offering (ICO) several months ago.
Ethereum Classic came into existence as the network that did not back the chain. The developers say there is no “official” team associated with the project, and that its “global development community is a permissionless ‘do-ocracy’ where anyone can participate.”
How did Ethereum Classic get started?
The Ethereum blockchain is the only network in which Ether was the main currency to support cryptocurrency transactions. However, in June 2016, a hacker stole assets worth US$50 million. As a result, the network was divided into two parts for its security.
Ethereum Classic turned out to be a split version of this, while the other part remained Ethereum itself. According to records, Ethereum was distributed so that the stolen cash could be returned to those who had a monopoly on it.
The Grayscale Ethereum Classic Trust invests exclusively and indirectly in Ethereum Classic, allowing investors to gain exposure to ETC as security while avoiding the hassle of directly buying, storing, and securing ETC. gives.
The Ethereum Virtual Machine (EVM) is a decentralized Turing-complete virtual machine that can run programs on a worldwide network of public nodes. The instruction set of a virtual machine is Turing-complete when compared to other codes such as the code for Bitcoin. Gas is an internal transaction price system, which reduces the risk of spam and allocates network resources.
Ethereum Classic allows developers to create and implement smart contracts that are autonomous and self-executing code blocks that perform certain actions based on predefined conditions.
How does Ethereum Classic (ETC) work?
Ethereum Classic is a cryptocurrency that is similar to Ethereum. It is a blockchain that replaces payments and creates smart contracts and apps monopolized by users whose ownership can be transferred and interacted with.
Providing a Turing complete programming language ensures that developers can build automated apps that can be monitored using condition-based results.
In other words, these contracts can operate without the involvement of a third party, such as a lawyer. Smart contracts are built in such a way that they are fulfilled when all the parameters set for all the statements contained in them are met.
If the criteria of the contract are not met, the penalty may be imposed or the contract may be breached based on the conditions stipulated therein.
Like all other blockchains, Ethereum Classic maintains a complete record of all transactions in a shared database. Not only that, OR keeps track of the recent status of all smart contracts and user balances supported on the blockchain.
User balance can be transferred digitally to another user’s wallet. All activity on the network is conducted by mining ERC20 tokens through a Proof of Work (PoW) mechanism.
What is the history of Ethereum Classic?
Ethereum Classic was launched on Coin MarketCap on July 29, 2016, since then the price of one Ethereum Classic was $1.7 dollars, but its first surge was seen only after 3 days.
On August 2 of the same year, the price of one Ethereum Classic touched $2.7 dollars directly. After that, there was a significant drop in its price from this and it continued for a year.
Ethereum Classic showed a bounce again after a full year. And on the year 2017 Jun 17, the price of one Ethereum Classic went from $2.7 to $23.27.
And this went on for a few months and again saw the third surge in Ethereum Classic. At that time the price of one Ethereum Classic touched $33.98.
Ethereum Classic made your fourth surge in the same year i.e. 2017 December 20. At that time the price of one Ethereum Classic reached $44.05. But again what happens with every crypto coin and token the same thing happened with Ethereum Classic. The price of Ethereum Classic continued to decline for three consecutive years.
But on May 6, 2021, Ethereum Classic made its all-time high. Then one Ethereum classic became $134.1 dollars. And since that day to date, there has been no bounce in Ethereum Classic. But very soon a pump may be seen.
Should I invest in Ethereum Classic?
The Ethereum Classic ETC project has undergone several changes since the split. The project aims to create a worldwide payment network based on smart contracts, which can perform decentralized functions.
Like other cryptocurrencies, Ethereum Classic will probably strive to become a digital store of value, meaning it can be saved and traded while maintaining its value.
The purchasing power of cryptocurrencies is part of their digital store of value that, like currency, can be quickly converted into cash or used to buy other things.
For investors looking to diversify their portfolio, especially in uncertain economic times, and for blockchain enthusiasts who feel that blockchain should not change, Ethereum Classic is a good investment.
Ethereum Classic Total Supply & Market Cap
| 1. | Market Cap | $6,821,066,816 |
| 2. | Total Supply | 210,700,000 |
| 3. | Max Supply | 210,700,000 |
| 4. | Circulating Supply | 136,480,546 |
| 5. | Ethereum Classic Price | $32.40 |
| 6. | 0.031 Ethereum Classic | = $1 |
| 7. | 24 Hour Ago | -3.9% |
| 8. | 7 Day Ago | -22.2% |
| 9. | One Year Ago | -51.9% |
This update is from 23 August. If you want to check the real-time price, then you can go to the website of coin market cap another option is that if you use any crypto exchange, then search in it and check the real-time price of Ethereum classic can do.
Future of Ethereum Classic
Many people say Ethereum Classic that this coin can give a good return in the coming time and some people even say that the price of Ethereum Classic will be as much as the coin of Ethereum. It can happen but it will take a long time.
We will tell you about the future price of Ethereum Classic in a proper way so that you will get an idea of where the price of Ethereum Classic can go in the future.
Ethereum Classic Price Prediction From 2022 To 2025
It is currently estimated that the price of Ethereum Classic can go from around $50 to $195 for one Ethereum Classic coin from the year 2022 to the year 2025. This is because a lot of changes will be made to Ethereum Classic in the coming two years.
Ethereum Classic Price Prediction From 2025 To 2030
Experts say that from the year 2025 to the year 2030, only minor changes will be done in Ethereum Classic, due to which nothing special changes can be seen, but it does not mean that its price will not increase. Some changes can be seen. Its price can go from $ 200 dollars to $ 250 dollars.
Ethereum Classic Price Prediction From 2030 To 2035
As the new year starts, we may see a pump in Ethereum Classic at the same time, but from the year 2030 to the year 2035, Ethereum Classic is going to remain in the pump. This means that there will be a lot of change in its price. Its price will be between $250 dollars to $750 dollars.
Ethereum Classic Price Prediction From 2035 To 2040
Many people also say that Ethereum Classic will cost as much as Ethereum and this is true but Ethereum Classic will take at least 8 to 10 years. When the year 2035 starts, then we may see a slight decline in Ethereum Classic. But before the year 2040, this coin can touch $2000 dollars. This means that $750 will directly cross $2000 dollars.
And this would be the best time for an Ethereum Classic investor. If in today’s time we invest 50 thousand rupees in this coin, then in the coming 10 to 15 years we will go by giving very good returns. If you want to invest, you can. This coin can prove to be a good option for you.
Ethereum Classic (ETC) FAQ
You can read some questions and answers related to Ethereum Classic (ETC) here:-
Q1.:- What is Ethereum Classic (ETC)?
Ethereum Classic (ETC) is a hard fork of Ethereum (ETH), with the ability to host and support decentralized applications (DApps). Its native token is ETC.
Q2.:- Who created the Ethereum Classic (ETC)?
Ethereum Classic is actually Ethereum’s legacy chain and was created by Ethereum developers Vitalik Buterin and Gavin Wood.
Q3.:- How does Ethereum Classic (ETC) work?
Ethereum Classic is a cryptocurrency that is similar to Ethereum. It is a blockchain that replaces payments and creates smart contracts and apps monopolized by users whose ownership can be transferred and interacted with.
Tags:- Ethereum Classic price, Ethereum Classic prediction, Ethereum Classic price prediction 2025, Ethereum Classic profitability, What is Ethereum Classic used for, What is Ethereum Classic price, What is Ethereum Classic price prediction, Ethereum Classic history
Q1.:- What is Ethereum Classic (ETC)?
Ethereum Classic (ETC) is a hard fork of Ethereum (ETH), with the ability to host and support decentralized applications (DApps). Its native token is ETC.
Q2.:- Who created the Ethereum Classic (ETC)?
Ethereum Classic is actually Ethereum’s legacy chain and was created by Ethereum developers Vitalik Buterin and Gavin Wood.
Q3.:- How does Ethereum Classic (ETC) work?
Ethereum Classic is a cryptocurrency that is similar to Ethereum. It is a blockchain that replaces payments and creates smart contracts and apps monopolized by users whose ownership can be transferred and interacted with.
