Ethereum Classic (ETC)

Ethereum Classic (ETC) is a crypto coin founded in 2016 as a result of a hard fork between Ethereum and Ethereum Classic. It is an open source, public, blockchain-based distributed computing platform that allows anyone to create DApps and smart contracts. Ethereum Classic is an immutable, permissionless, open source distributed blockchain and computing platform that runs smart contracts. It was originally based on the Ethereum network, but has since evolved to become an independent platform in its own right. Ethereum Classic has a maximum supply of 210 million coins, with a current supply of 114 million as of December 2020. ETC was forked from Ethereum in 2016, following the infamous DAO hack, after which the original Ethereum chain continued on as Ethereum Classic and the new Ethereum chain became Ethereum. The major reason ETC stands out is its immutable nature. Ethereum Classic’s blockchain is immutable, meaning that once something is written to the chain it cannot be edited, deleted, or reversed. This is a major draw card in the eyes of its users and is the principle in which ETC advocates for. Despite being one of the most valuable coins in the cryptocurrency market, it’s not as well-known as Bitcoin or Ethereum. This might be because it shares much of the same basic technological infrastructure as Ethereum but hasn’t had the marketing support or institutional backing as much as its peers. ETC is mainly used as a digital store of value, as a hedge against inflation and other cryptocurrencies, but also has its fair share of transactions in the realm of dApps and smart contracts. It is also used in DeFi platforms and staking with Crypto.com, Coinbase and many other official exchanges and wallets. For those looking to buy, trade or invest in ETC, they can do so on exchanges such as Binance, BitFinex and Huobi. They can also buy it in private exchanges such as LocalEthereum and Crypto.com. Overall, ETC is a particularly appealing cryptocurrency for users that value immutability and decentralization. As it does not have the same marketing support and institutional backing as many of its peers, it is also considerably cheaper and a very viable alternative to Ethereum or Bitcoin.