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Ethereum Classic ETC
Price
$26.69 2.64%
Ethereum Classic ETC
Number of casinos: 595
Cryptocurrency Code: ETC
Website: ethereumclassic.org
Source code:
Max Supply: 210,700,000
Ethereum Classic ETC gambling options
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The History of Ethereum Classic
Uncover the fascinating history of Ethereum Classic, from its inception to its evolution as a decentralized blockchain platform. Learn how it all began and what sets it apart today.
Ethereum Classic functions as a blockchain-based distributed computing platform with smart contract capabilities, operating through open-source development and a unique transaction-based consensus model. Retaining the original, unaltered ledger of the Ethereum network, Ethereum Classic was created following a significant event in the blockchain’s history. After the infamous hack on a project called The DAO, the Ethereum Foundation decided to make an irregular modification to the blockchain on 20 July 2016, effectively reversing the theft. This new version was adopted by the Foundation and became the primary Ethereum network, leaving the original, unmodified chain to carry on as Ethereum Classic.
Released first on the Ethereum mainnet through Frontier on 30 July 2015, Ethereum Classic continues to function as a decentralized network, complete with a public Ethereum Virtual Machine (EVM) and a Turing-complete instruction set that allows a wide array of scripts to execute. With its native token, Ether (ETC), rewarded through a mining process, Ethereum Classic adheres to a capped and algorithmic monetary policy implemented in December 2017. Its token, ETC, is used for transaction fees and can be traded on various exchanges, supporting a range of transactional activities, asset exchanges, and purchases.
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The Popularity of Ethereum Classic
Еthereum Classic (ETC) has quietly grown in popularity, gaining traction without making much of a public splash. Despite being a hard fork from Ethereum, it’s shown significant growth, especially in its decentralized applications (dApps). According to Dapp Direct, the activity in ETC's dApp ecosystem has doubled, jumping from 2,000 ETC in July to over 5,500 by September. This surge highlights the rising interest in the platform.
As of now, over 5,900 ETC, worth approximately $68,137, has been deposited into the Ethereum Classic network. The platform is home to seven active dApps, including a decentralized exchange (DEX), a messaging service, a pirate-themed game, and a prediction market. While Ethereum, the original network, boasts almost 2,000 dApps, Ethereum Classic is gaining ground with steady developments and new projects joining the platform.
The initial split from Ethereum occurred after the controversial decision to reverse the hack that affected 6.2 million ETH. Ethereum Classic held firm on its stance to preserve the blockchain’s immutability, which set the foundation for its independence.
Recent positive developments, like Coinbase’s potential listing of ETC, have contributed to price spikes, proving that the network’s future looks promising. Despite Ethereum’s dominance, Ethereum Classic continues to gain confidence from its supporters, including Alexander Tsankov, Director of the ETC Development Fund, who expects major projects to join the platform soon.
News and Articles for Ethereum Classic
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How has Ethereum Classic Grown During the Years?
Ethereum Classic has seen significant growth over the years, marked by a series of key milestones that have influenced its price trajectory. Here’s a brief timeline highlighting key events that impacted Ethereum Classic's growth:
- 2015-07-30: Launch of Frontier
- Ethereum Classic was officially launched, setting the foundation for its future growth in the blockchain space.
- 2016-03-15: Homestead Upgrade
- The first major network upgrade that brought improved stability and functionality, increasing investor confidence.
- 2017-12-11: Gotham Upgrade
- With this upgrade, Ethereum Classic saw greater adoption and interest from developers, pushing its price higher.
- 2018-05-29: Defuse Difficulty Bomb
- A crucial upgrade that alleviated concerns about network delays, contributing to a positive price movement.
- 2019-09-12: Atlantis Upgrade
- The network’s price saw positive growth due to increasing ecosystem development and user adoption.
- 2020-01-11: Agharta Upgrade
- Ethereum Classic’s price benefited from improved interoperability and scalability between Ethereum and Ethereum Classic.
- 2020-06-01: Phoenix Upgrade
- The price saw notable appreciation as the community strengthened and investor sentiment improved.
- 2021-07-23: Magneto Upgrade
- Ethereum Classic’s price surged as the community responded well to the network's increased security and performance.
- 2022-02-12: Mystique Upgrade
- This upgrade resulted in an increase in the network's price, driven by enhanced functionality and new capabilities.
- 2022-09-15: Largest PoW EVM
- Ethereum Classic’s price hit a significant peak as the network solidified its position as the largest Proof of Work (PoW) EVM chain.
- 2024-02-04: Spiral Upgrade
- The most recent upgrade continued to boost Ethereum Classic’s price, increasing network stability and attracting new users.
| Year | Price at Start of Year (USD) | Price at End of Year (USD) | Percentage Change (%) |
|---|---|---|---|
| 2015 | $0.61 | $0.54 | -11.48% |
| 2016 | $0.54 | $8.00 | +1370.37% |
| 2017 | $8.00 | $24.00 | +200.00% |
| 2018 | $24.00 | $5.10 | -78.75% |
| 2019 | $5.10 | $7.00 | +37.25% |
| 2020 | $7.00 | $8.00 | +14.29% |
| 2021 | $8.00 | $55.00 | +587.50% |
| 2022 | $55.00 | $17.00 | -69.09% |
| 2023 | $17.00 | $18.00 | +5.88% |
| 2024 (up to Nov) | $18.00 | $18.23 | +1.28% |
What are the Best Platforms to Trade with Ethereum Classic?
Ethereum Classic (ETC) is widely available for trading on several platforms that cater to different user needs and preferences. Binance, for example, is one of the largest exchanges globally, offering a broad range of features, including low fees, high liquidity, and both spot and futures trading options. It's ideal for more experienced traders, though beginners can also navigate the platform with some familiarity. Coinbase, on the other hand, is designed for beginners, with its easy to use interface and educational resources. It provides a secure environment with good liquidity and lets people to buy, sell, and store ETC easily.
| Platform | Key Features |
|---|---|
| Binance | One of the largest exchanges with low fees, high liquidity, and advanced trading options, including spot and futures. Available in many countries. |
| Coinbase | User-friendly platform ideal for beginners, offers high liquidity, strong security features, and mobile and desktop apps for easy access. |
| Kraken | Known for robust security features and a wide range of cryptocurrencies. Offers margin trading and futures, along with excellent customer support. |
| Gemini | A highly regulated exchange in the U.S., Gemini offers a secure platform with educational resources, high liquidity, and advanced trading tools. |
| Huobi Global | Global availability with competitive fees, high liquidity, and multiple trading tools, including spot and margin trading. |
| Bitstamp | Secure and regulated platform with a user-friendly interface, low fees for high-volume traders, and multiple fiat-to-crypto options. |
| OKX | Provides spot, futures, and perpetual swaps with high liquidity, advanced trading features, and a mobile app for trading on the go. |
| KuCoin | Offers a variety of altcoins, including Ethereum Classic, along with advanced trading options, competitive fees, and staking rewards for users. |
| eToro | Features social trading and copy-trading, easy-to-use interface, regulatory compliance, and support for both cryptocurrencies and traditional assets. |
| Bitfinex | Offers high liquidity, advanced trading tools, margin trading, and lending features. Well-suited for professional traders. |
How to Open an Account in Binance and Find my Ethereum Classic Address?
Here are the steps on how to create an account in various apps.
Step01
Visit Binance and Register
To start, navigate to the official Binance website. There, click on the “Register” button, which will take you to the account creation page
Step02
Create Account
On the registration page, enter your email and make a strong password. This will be your login information for future use.
Step03
Agree to the terms of use and complete verification
After filling in your email and password, you’ll need to agree to Binance’s terms of use. You will also need to complete the verification process, which may include identity verification to ensure security.
Step04
Navigate to Wallet
Once your account is created and verified, log in to Binance and go to the “Wallet” or “Funds” section, which is where you can manage all your cryptocurrencies and track balances
Step05
Find the Ethereum Classic (ETC) Wallet
Within the Wallet section, look for Ethereum Classic (ETC) in the list of available cryptocurrencies. If you don’t see it, you can search for it using the search bar.
Step06
Click on Deposit
After selecting Ethereum Classic, click the “Deposit” button. This will allow you to receive Ethereum Classic into your Binance account.
Step07
Locate your Ethereum Classic ETC address
Your unique Ethereum Classic address will be generated and displayed. Copy this address to receive ETC or share it with others for deposits.
What Casino Games Can I Play with Ethereum Classic?
Ethereum Classic (ETC) is supported by a growing number of online casinos, allowing players to use the cryptocurrency to access a wide variety of games. As the popularity of cryptocurrencies continues to evolve, many online gaming platforms have started accepting Ethereum Classic, offering an innovative way for players to enjoy their favorite casino games. The use of Ethereum Classic in online casinos provides a number of advantages, such as fast transactions, lower fees, and enhanced privacy compared to traditional banking methods. Whether you're a seasoned gambler or just getting started, you can easily deposit, bet, and withdraw using ETC across various casino games.
| Crypto currency | Sym | Casino | Slots | Roulette | Baccarat | Poker | Blackjack | Live casino | eSports | Sports |
|
ETC
|
ethereum-classic-etc |
Interesting Facts About Ethereum Classic
Ethereum Classic (ETC) is a unique cryptocurrency that has captured the attention of many in the blockchain space. Here are some interesting facts about Ethereum Classic:
- Split from Ethereum: Ethereum Classic originated from a split with Ethereum (ETH) in 2016 after a hard-fork event. This split was caused by the DAO hack, where an exploit resulted in the theft of millions of dollars' worth of Ether. While Ethereum (ETH) chose to implement a hard fork to reverse the hack, Ethereum Classic (ETC) chose to sustain the original blockchain, preserving the immutable principle of blockchain technology.
- The Immutable Chain: One of the key principles of Ethereum Classic is its commitment to immutability. This means that, unlike Ethereum, ETC does not support hard forks to alter the blockchain, even in the case of a hack or other major events. The Ethereum Classic community believes in the sanctity of the blockchain and the idea that “code is law.”
- Support for Smart Contracts: Much like its counterpart Ethereum, Ethereum Classic allows developers to create decentralized applications (dApps) and smart contracts. These are self-executing contracts with the terms of the agreement written into lines of code, allowing decentralized finance (DeFi) and a wide range of other applications.
- Smaller, Yet Strong Community: Although Ethereum Classic is not as widely used or recognized as Ethereum, it has a dedicated and passionate community that believes in the principles of decentralization and immutability. It may be smaller in size, but its community continues to grow and actively supports the network’s development.
- ETC's Supply Limit: Ethereum Classic has a total supply cap of 210 million coins, making it a deflationary asset over time. This sets it apart from Ethereum (ETH), which has no supply limit.
- Mining on Proof-of-Work: Ethereum Classic continues to use the Proof-of-Work (PoW) consensus mechanism, similar to the early days of Ethereum, to validate transactions and secure the network. In contrast, Ethereum transitioned to Proof-of-Stake (PoS) with its Ethereum 2.0 upgrade.
- ETC is Listed on Major Exchanges: Despite being the original Ethereum blockchain, Ethereum Classic is still widely traded on various major cryptocurrency exchanges, including Binance, Kraken, and Coinbase, offering high liquidity and ease of access for users worldwide.
- No Central Authority: Like other decentralized cryptocurrencies, Ethereum Classic operates without any central authority or single governing body. Its development is carried out by a decentralized group of contributors, which reinforces its core principle of decentralization.
Casinolandia’s Conclusion About Ethereum Classic
In conclusion, Ethereum Classic (ETC) stands as a unique and resilient player in the world of cryptocurrencies, holding firm to its principles of decentralization and immutability. Unlike its more widely recognized counterpart, Ethereum (ETH), ETC offers a blockchain that refuses to compromise on the core belief that “code is law.” Its split from Ethereum in 2016, driven by the DAO hack, paved the way for a network that prioritizes the unchangeable nature of its blockchain, even in the face of adversity.
Despite its smaller community, Ethereum Classic has continued to thrive, offering developers the ability to create decentralized applications and smart contracts on a secure, decentralized network. With a capped supply of 210 million coins, ETC promises a deflationary model that differentiates it from other cryptocurrencies. As the network continues to use the Proof-of-Work consensus, it provides a nostalgic and reliable method for those who appreciate the traditional way of mining.
Author
Alexander Yanev | Content Writer