What is Ethereum Classic (ETC)?

Ethereum Classic (ETC) is a form of cryptocurrency that was created as a result of a hard fork in the Ethereum blockchain in 2016. It is an open-source, decentralised platform for applications that runs smart contracts on a distributed public blockchain network. It is the original version of Ethereum and maintains an immutable ledger of transactions, which means that once a transaction is sent, it cannot be reversed. Ethereum Classic has its own cryptocurrency called ETC, which can be used to pay for fees and services on this platform. 

It is a decentralized platform that runs smart contracts: applications that run exactly as programmed without any possibility of downtime, censorship, fraud or third-party interference. It is a continuation of the original Ethereum blockchain - the classic version preserving untampered history, free from external interference and subjective tampering of transactions. Transaction FinalityEthereum Classic believes the core value proposition of any blockchain is immutability; valid transactions can never be erased or forgotten. Individuals interacting on Ethereum Classic are governed by this reality; Code is Law.

This does not necessarily mean that code replaces existing laws or that only code is a law (there are many geographical jurisdictions), but it gives users the opportunity to enter into a new blockchain-based jurisdiction where agreements are governed by code. By entering into contracts on Ethereum Classic, you can be certain that the network remains neutral. The outcome of transactions will be dictated by the code you voluntarily interact with. Unless explicitly defined by the contract code, there are no reversals, no undos, and no opt-outs. Transactions are final; applications are unstoppable. Decentralized GovernanceThere is many problems that fester due to centralization and opaqueness; corruption, unaccountability, nepotism, inefficiency and stagnation. Ultimately, centralization leads to fragility; only decentralized systems can stand the test of time. These problems can only be solved by adhering to governance systems that do not rely on a central point of failure. Just like distributed networks and the consensus protocol itself, we believe that only truly decentralized projects can survive in the long run. Ethereum Classic manifests these values by relinquishing control to a formalized central foundation.

How does it work?

Ethereum Classic functions using a decentralised virtual machine known as the Ethereum Virtual Machine (EVM). The EVM executes smart contracts on the network, and these smart contracts are responsible for processing transactions, storing data, and controlling the flow of funds. This blockchain also has its own cryptocurrency called Ether (ETC). Like other cryptocurrencies, Ether can be used to make payments and conduct transactions on the Ethereum Classic network. Additionally, developers can use Ether to create and deploy decentralised applications on the Ethereum Classic blockchain.

How to get Ethereum classic?

To get ETC, you need to create a digital wallet that can store and manage ETC. This can be done through various options, including hardware wallets, software-based wallets and exchange wallet services. Once you have a wallet, you can buy ETC from cryptocurrency exchanges like Binance, Poloniex or Kraken. You can also use peer-to-peer platforms such as LocalEthereum to buy ETC directly from other users. Additionally, you can also mine ETC using your own mining hardware. This is a more complicated process, but it can be very rewarding if done correctly. With all the options available, getting Ethereum Classic is easier than ever before.

Ethereum classic price live data.

ETC live price data can be found on many websites, including CoinMarketCap, CoinGecko, and Ethereum Insights. It is currently ranked 16th in terms of market cap and has a block time of 12 seconds, making it one of the fastest Ethereum-based cryptocurrencies. It is also supported by many major exchanges, making it easy for anyone to buy and sell ETC quickly and securely.