Ethereum Classic

What is the Token?

• Ethereum Classic (ETC) operates as a

• decentralised

• computing platform capable of running smart contracts without downtime, censorship, or third-party interference.

• It serves as the ongoing legacy of the original Ethereum blockchain, maintaining its historical record following the 2016 hard fork.

Tokenomics

• ETC has a maximum supply limit of 210,700,000 tokens, introducing deflationary pressure as miner rewards decrease over time.

• Ethereum Classic remains dedicated to a Proof of Work (PoW) consensus mechanism, unlike Ethereum’s shift to Proof of Stake (PoS).

Market Data

As of today 21 November 2024, the price of Ethereum Classic is ₹2,317.00 INR, with a 24-hour trading volume of 474805416.13 USD. The market capitalization for Ethereum Classic is 3949711949.99USD. The circulating supply is 149634953.22 Ethereum Classic, with the total supply also being 210700000 Ethereum Classic.

Token Pros and Cons

Pros:

• Ethereum Classic steadfastly adheres to the principle of immutability and the philosophy that "Code is Law," ensuring that all transactions and contracts are irreversible and unalterable.

• It enables the creation and operation of smart contracts and

• decentralised

• applications (dApps) at a lower cost than Ethereum, making these features more financially accessible.

Cons:

• The platform is susceptible to security risks, as demonstrated by its history of experiencing 51% attacks, which have raised concerns about its vulnerability.

• Ethereum Classic garners less interest from developers compared to Ethereum and suffers from a lack of backward compatibility with it, alongside worries regarding potential centralization.

Why Should You Invest in the Coin?

• Investing in Ethereum Classic could be appealing for supporters of Ethereum’s original vision, offering a lower entry barrier for investment and mining amidst inherent cryptocurrency risks.

USP of the Coin

• Ethereum Classic’s unique selling point lies in its fidelity to the original Ethereum blockchain’s ethos,

• emphasising

• immutability, censorship resistance, and permissionless innovation.

Problem the Coin is Solving

• Ethereum Classic addresses blockchain censorship and interference, championing the unalterable nature of transactions and smart contracts as envisioned by the original Ethereum.

Founder and Team Background

• Nick Johnson founded Ethereum Name Service (ENS), enhancing Web3 with decentralised naming for wallets and addresses.

ICO Price

• Ethereum Classic did not have a traditional ICO due to its origins from a hard fork, with Ethereum holders at the fork time receiving equivalent ETC.

Risks Associated in Investing in the Coin

• Potential investors face risks such as security vulnerabilities, lower development activity compared to Ethereum, and regulatory uncertainties impacting the market.

11. Whitepaper Insights

applications (DApps) to be built and run without any downtime, fraud, control, or interference from a third party. The platform is based on the principle of immutability, meaning that once data has been recorded on the blockchain, it cannot be altered or erased. This is a key aspect of the trust and security model of Ethereum Classic.

The platform uses a Proof of Work (PoW) consensus mechanism, which involves miners solving computationally difficult puzzles to validate transactions and create new blocks on the blockchain. This process secures the network and rewards miners with new ETC tokens. The supply of ETC is capped, which introduces a deflationary aspect to the tokenomics, potentially increasing the value of ETC over time as the supply becomes more limited.

Ethereum Classic’s commitment to PoW contrasts with Ethereum’s transition to Proof of Stake (PoS), which is a different consensus mechanism that does not require the same level of computational power and energy consumption. Ethereum Classic’s decision to stick with PoW reflects its commitment to the original Ethereum protocol and its values.

The Ethereum Classic network supports all the functionalities of the original Ethereum, including the ability to create and execute smart contracts. These are self-executing contracts with the terms of the agreement directly written into code. They run exactly as programmed without any possibility of downtime, censorship, fraud, or third-party interference.

applications.

applications and for users to engage in transactions and smart contracts with the assurance that the history of the blockchain remains unaltered. The capped supply of ETC tokens and the ongoing development efforts by the community contribute to the potential for Ethereum Classic to remain a significant player in the cryptocurrency space.