The popularity of cryptocurrencies constantly grows all over the world. This trend is explained by the tense geopolitical situation worldwide. Such conditions affect fiat money. So, the latter are at high inflation risk. By contrast, crypto may be influenced only by internal factors. Thus, it’s a more reliable way to store funds. Furthermore, some experts consider cryptocurrency the most secure option for investing nowadays.
ETC (or Ethereum Classic) is claimed as one of the most popular cryptocurrencies by proficient traders. Those who are interested may find the current exchange rate of this crypto, e.g., by using the link https://cryptotracker.com/price/ethereum-classic. ETC was developed by Ether creators. So, these cryptos have some common features. But actually, creators made the specified currency based on different blockchains. Therefore, these cryptocurrencies are considered individual projects.
Main ETC Features
Ethereum Classic appeared as an analog of Ether. It became popular in 2016. Unfortunately, the Ethereum platform, including Ether, was hacked that year. Intruders withdrew about $50 mln within the ‘raid’. Thus, Ether holders demanded that Ethereum founders compensate for the damage and take measures to increase the platform’s digital protection level. Consequently, creators had to change the initial blockchain.
But not all Ether holders agreed with such shifts. So, such investors required the Ethereum creators to leave the original blockchain unchanged. Therefore, ETH owners decided to develop a separate cryptocurrency based on the initial Ether script. As a result, Ethereum Classic was made. Numerous famous exchanges started to trade this currency shortly after its appearance. Thus, ETC is now considered a pretty successful crypto project.
Key ETC Technical Parameters
Currently, Ethereum Classic is one of the 25 cryptocurrencies that are in the most demand in the market. Its main parameters are:
- general cap – more than $3 billion;
- 24h volume – about $171.5 million;
- total supply – 210.7 mln tokens;
- circulating amount – 137 million coins;
- top one coin price – nearly $136 (May 2021).
Specialists predict the constant growth of Ethereum Classic capitalization. So, ETC is a great option for long-term investments. Simultaneously, this crypto excels in quite high intra-day volatility. Thus, it also suits day trading.
Is It Possible to Mine Ethereum Classic?
Yes, ETC creators have provided blockchain lovers with such a possibility. Ethereum Classic mining doesn’t demand much electricity in comparison with other salable cryptocurrencies. This process only requires a powerful PC. Nay, ETC may be mined by applying ordinary video cards.
Primary Benefits of Ethereum Classic
The specified cryptocurrency excels in complete decentralization. Nay, this crypto provides its holders with transparent payments. Its transaction fee is nearly 0.00048 ETC. The other pros are:
- strong transaction defense;
- complete forgery impossibility;
- positive liquidity indicators.
Moreover, proficient investors note the stability of Ethereum Classic in the market. Also, holders may store ETC coins in cold, online, mobile, together with hardware wallets.
Ethereum Classic and Ether Comparison
Primarily, it should be noted that the ETH total supply is unlimited while ETC has limited, while ETC has restricted emissions. Additionally, experts notice the following distinctions between these two cryptos:
- Ethereum Classic has a lower hash rate than Ether.
- ETC is a universal asset. But still, it’s better to use it for diversifying a crypto portfolio. And Ether fits long-term investments.
- Ethereum Classic doesn’t allow any shifts in its blockchain. And Ether lets changes if most of the team consents.
Furthermore, an essential difference is each cryptocurrency’s exchange rate. ETC met 2021 at nearly $5 and reached its peak of about $136 per token. And the minimum Ether rate was almost $730 and hit the maximum of approximately $4,640 in the same year.
Also, some traders are concerned about the ETC security level. That’s because of the well-known hacker attack in 2016. So, they consider ETH a more reliable asset. However, numerous dealers invest in Ethereum Classic. Furthermore, it trades on famous exchanges. Thus, the worries mentioned above are in vain. Blockchain lovers may find more information on this theme, e.g., on CryptoTracker.com.