Ethereum Classic cryptocurrency (Ethereum Classic, ETC): review, rate and chart, forecast and prospects, how to buy or sell cryptocurrency

Characteristics

Indicators of the Ethereum Classic cryptocurrency as of April 18, 2022:

Road map:

Ethereum Classic (ETC) Review

ETC has a lot of activity compared to many other blockchains, almost the same as Litecoin. Several development teams are working on the system, and all of them are aimed at the long-term development of the project. Ethereum Classic is in the top 10 in terms of programmer activity and has several large sources of funding, so there is reason to believe that over time the network will become increasingly better and publicly accessible.

Key principles:

1. Technological blockchain and advanced smart contracts.
2. Quite a strong community.
3. Conservative approach to change.

How to buy or sell Ethereum Classic (ETC)

There are the following ways to buy or sell Ethereum Classic cryptocurrency:

1. Crypto exchanges.
2. Cryptocurrency exchangers.
3. P2P exchangers.
4. Cryptocurrency wallets.
5. Telegram bots.

Exchanges

ETC is traded on most major exchanges. The most popular of them are exchanges: Binance (the largest in the world in terms of trading volume) and Eksmo (focused on working with fiat).

To trade, you will need to create an account, top up your balance and select a currency pair in the trading terminal. After analyzing the chart, trading history, and order book, you should create an order to buy or sell Ethereum Classic.

Pairs ETC/BTC, ETC/USD, ETC/RUB are available on the Exmo exchange:

On Binance: ETC/BTC, ETC/BNB, ETC/ETH, ETC/USDT.

Exchangers

An easier and faster way to purchase Ethereum Classic or exchange it for other currencies, such as rubles and dollars. Select a reliable exchanger from the list and carry out the operation. Proven services are ProstoCash, 60cek, Kassa.

To create an application, select exchange directions, for example, Sberbank - Ethereum Classic; indicate the quantity; wallet to receive (ETC cryptocurrency address); card or account number from which payment will be made; email; Click Exchange and follow the instructions.

Advantages and disadvantages

The main advantages of the Ethereum Classic cryptocurrency are:

1. Stable structure. The developers believe that the founders of the original Ethereum destroyed the basic principles of cryptocurrency platforms - freedom of choice and maximum decentralization. The fork tried to fix this.
2. High liquidity. Ethereum Classic has always shown excellent trading volumes, in some cases even exceeding those of Ethereum.
3. Many large investors express a desire to invest in the development of the project.

The disadvantages of Ethereum Classic are standard and inherent in almost all cryptocurrencies. These are the difficulty of mining, the inability to get your money back if you lose access to your wallet, high volatility, and mistrust from the authorities. Therefore, as with any other cryptocurrency, when investing in Ethereum Classic you need to be aware of the risks and be careful.

Forecast for the future

Further prospects for the development of Ethereum Classic depend on many factors.
In particular, much depends on whether the system will be modified. In principle, this is difficult to do, which is the advantage of the site. There are a minimum of various kinds of vulnerabilities, etc., which clearly makes the currency in question very promising for investment. The exchange rate, of course, is not stable, but its prospects are good. Despite this, Ethereum has received the title of one of the most promising cryptocurrencies. As already mentioned, the Ethereum Classic Investment Trust was launched in April of this year. It made it possible to safely invest in ETC, which users liked. Not surprising, because after that the rate began to grow steadily, albeit with serious fluctuations. But this is also a big plus for those who want to make money on fluctuations in this exchange rate.

It is investments that are the main guarantee that the currency will not burst like a soap bubble. In the meantime, traders make money on Ethereum classic and its pump, monitor the growth of the rate and the development of the investment trust. In particular, over the last six months alone, the capitalization of EC Investment Trust has grown to 53 million US dollars.

Many experts believe that ETC has significantly higher potential than its competitor and brother, ETH. The fact is that it has a fixed issue, which means that this monetary unit initially received an advantage, which is what people take advantage of when trying to accumulate more coins.

So if investors found this coin a good choice for investment, then the prospects for the development of this cryptocurrency are good. At the very least, it has all the conditions to obtain the status of an indispensable coin in the world of cryptocurrencies. It is different:

• Limited;
• Functionality;
• Decentralized.

In general, the forecast for the future of the coin is quite positive, even if the situation on the world market changes. Of course, no one is immune from fluctuations. But it is not yet possible to make a forecast for a long period, because, as already mentioned, the exchange rate is unstable, and it is very difficult to understand what will happen to it in a month or two.

Wallets

The official wallet for storing ETC is Emerald Wallet. This is a multi-platform desktop wallet with support for Ethereum Classic and Ethereum, as well as other ERC-20 compatible tokens. Private keys are stored in secure local storage. Can work in conjunction with hardware wallets (Ledger Nano, Trezor).

In the Resources section on the official website ethereumclassic.org/resources there is a list of wallets for Ethereum Classic: Atomic Wallet, Daedalus, Mantis, Emerald, Exodus, Guarda, Parity, Classic Ether Wallet, My Ether Wallet, MyCrypto, SATURN Wallet; Coinbase Wallet, JAXX, Coinomi, Trust Wallet.

Roadmap (development plan)

for 2022

• Solving scalability problems
• Emerald Wallet for mobile devices
• "Emerald Wallet" SDK
• Sidechains
• New opcodes for Ethereum compatibility
• IPFS integration
• Optimization of Sputnik VM and JIT Compilation
• Improved caching for better performance (State DB)

for 2022

• Solving scalability problems (up to 1000 + tx/sec.)
• Convenient client for IoT and Mobile
• Compatibility with other Blockchains
• Improving cryptography on EVM
• for 2022
• Hybrid Consensus Study

Mining

The method of mining the Ethereum Classic coin is similar to that used by its progenitor. The algorithm is also the same. Classic ether is most often mined using video card farms. To start mining, you will need:

• created ETC wallet;
• connection to a mining pool that works with this coin;
• farm of 4-6 or more modern powerful video cards;
• special software configured properly.

It is important to have a stable and fast Internet connection and reinforced wiring in the room.

What is a soft fork?

Whenever a blockchain needs an update, there are two ways to implement it: a soft fork, or “soft split,” or a hard fork, or “hard split.” A soft fork is similar to any backwards compatible software update.

What does it mean? Let's say you are using MS Excel 2005 and you want to open a spreadsheet created in MS Excel 2015. You will be able to do this because Excel 2015 is backward compatible.

But there is still a difference. The new features you can enjoy in the new version will not be available in the old one. Let's return to the MS Excel analogy: let's say that the 2015 version has a function that allows you to put GIFs in a spreadsheet. If you open this file in the 2005 version, you won't see your GIFs - just the text.

This is roughly what the Ethereum developers intended to do with their blockchain. After the soft fork, you would still have the choice of whether to accept the update or not, but all users would still be able to interact with each other. The idea was to completely block ether that was stolen by hackers, ignoring and isolating any blocks containing transactions with stolen cryptocurrency.

This seemed like a great plan and the Ethereum community was generally supportive, but then a new problem arose and the community found itself in a difficult situation again. A vulnerability was discovered in the softfork code that could lead to DDoS attacks.

Prospects and forecast

Immediately after its creation, Ether Classic was supported by the large crypto exchange Poloniex, which aroused trust among users. True, later some became disillusioned with the coin, considering its value too inflated through speculation.

The principle of complete non-interference in the blockchain is also a coin of two sides - yes, in this way the participants are confident in the complete decentralization of the network. But at the same time, if funds are lost as a result of a hacker attack or for other reasons, they will not be returned.

So far, the price of ETC is quite stable, but experts believe that it has an upward trend. If the situation does not change, then classic ether will be considered an option for long-term investment.

general information

Even before the famous split between Bitcoin and Bitcoin Cash, an equally remarkable event took place in the crypto community. As soon as it started operating, the Ethereum network split.

The reason was the hacking of The DAO, the leading organization of Ethereum, and the theft of $50,000,000. Today this would not surprise anyone, but in 2016 it was a shock to the community.

Some of the developers, led by Vitalik Buterin, will make a decision - they need to roll back (no, not give the hackers a bribe) and return the funds to the fold of the Taoists. The noble decision was received ambiguously by both users and part of the community. The case clearly showed that a decentralized network, in general, is not decentralized, and if desired, its creator can move millions at his own discretion.

One of the most ardent opponents of the rollback will be Charles Hoskinson. True, his motive was not concern for the future of the blockchain or even replenishing his own pocket - Charles simply suffered from narcissism in its clinical manifestations and really wanted his small but proud cryptocurrency. This is how ETC will begin its work in a strange way.

But the broadcast is not real.

Here they insist that Classic remains the true Ethereum. From a technical point of view, this is true - the original is ETC, the hard fork is ETH. Later, ETC will take shape as a separate currency, for example, the decision of the ETH team to switch to Proof-of-Stake does not in any way affect the decisions of the competing network.

A little later, Charles will receive specialized medical care, create a successful Cardano (ADA) project and reconcile with Vitalik. The Classic team will face challenges in 2022, having experienced 3 hacks in a month. But it will endure, set a course for integration with ETH services and will keep an eye on Buterin’s actions, offering the best solutions in its network.

A number of teams are making their changes: ETC Cooperative, ETC Labs, ETC Core, Mantis and others.

This is such a strange, but still happy ending. Now let's talk about how it all works.