Ethereum Classic
Current price
$7.66
−5.43%24h
LiveUpdated 26s ago
TodayEthereum Classic drops 5.4%, trailing the market.
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View as table
| Time | Price |
|---|
Change by period
- 1 hour−0.65%
- 24 hours−5.43%
- 7 days−8.48%
- 30 days+3.79%
- 1 year−52.80%
Ethereum Classic's move in context
Lagging the market today
−5.43% today against −3.27% for the market as a whole, a gap of 2.2 points. Small gaps like this are common, so they don't point to anything specific.
Trend has turned
−8.5% over 7 days and +3.8% over 30 days: the last week went against the monthly direction.
This is analysis of past prices, not a prediction or financial advice.
About Ethereum Classic
Ethereum Classic: The Original Ethereum Blockchain
Ethereum Classic (ETC) is a decentralized, open-source blockchain platform that emerged as a result of a hard fork from the original Ethereum network in 2016. The fork was a response to a contentious decision following the infamous DAO hack, where a vulnerability in a decentralized autonomous organization (DAO) led to the theft of millions of Ether. The Ethereum community was divided on how to handle the situation, leading to the creation of two separate blockchains: Ethereum (ETH) and Ethereum Classic (ETC). While Ethereum chose to reverse the hack by implementing a hard fork, Ethereum Classic decided to maintain the integrity of the original blockchain, embracing the principle of "Code is Law."
Key Aspects of Ethereum Classic
Immutable Blockchain: One of the defining principles of Ethereum Classic is its commitment to immutability. The decision not to reverse the effects of the DAO hack reflects a philosophical stance that code should be immutable and that blockchain transactions should be irreversible. This has made Ethereum Classic a symbol of the original vision of blockchain technology, where the rules are hard-coded and cannot be changed retrospectively.
Smart Contracts and DApps: Like Ethereum, Ethereum Classic supports smart contracts and decentralized applications (DApps). Developers can build and deploy DApps on the Ethereum Classic network, utilizing the same tools and languages as Ethereum. However, the community and developer ecosystem around Ethereum Classic are smaller compared to Ethereum, which can influence the range and diversity of DApps available on the platform.
Security and 51% Attacks: Ethereum Classic has faced significant challenges related to security, particularly from 51% attacks, where an attacker gains majority control of the network's hash rate. These attacks have resulted in double-spending and other malicious activities, highlighting the risks associated with maintaining a smaller network. Despite these challenges, the Ethereum Classic community has implemented various measures to improve network security, such as increasing the time between block confirmations and exploring potential changes to its proof-of-work algorithm.
Decentralization and Governance: Ethereum Classic operates with a decentralized governance model, where decisions are made by the community and network participants rather than a centralized authority. This approach aligns with its commitment to maintaining a truly decentralized blockchain, where changes to the protocol are only made with broad consensus from the community. This decentralization also means that development and upgrades to the network can be slower compared to Ethereum.
ETC Token and Market Position: The native cryptocurrency of the Ethereum Classic network is ETC. It is used for transactions, paying for gas (computational fees), and participating in network governance. While ETC has consistently remained in the top cryptocurrencies by market capitalization, its value and adoption have been overshadowed by Ethereum. Nevertheless, ETC remains a significant asset within the crypto ecosystem, particularly for those who support its principles of immutability and decentralization.
Future Outlook: The future of Ethereum Classic is closely tied to its ability to address security concerns and continue attracting developers and users to its platform. With ongoing efforts to enhance security and potential upgrades to the network, Ethereum Classic aims to solidify its position as a reliable and resilient blockchain for decentralized applications. As the broader cryptocurrency market evolves, Ethereum Classic may find renewed interest from those who value its commitment to the original ideals of blockchain technology.
Ethereum Classic market
- Position by market cap among the coins we track.
- #53
- Position by market cap among the coins we track.
- Price × coins in circulation. It measures a coin's size, not its quality.
- $1.22B
- Price × coins in circulation. It measures a coin's size, not its quality.
- The lowest and highest price in the last 24 hours. The dot marks the current price.
- Low $7.57High $8.16
- The lowest and highest price in the last 24 hours. The dot marks the current price.
- The highest price this coin has ever reached. The bar shows today's price as a share of it.
- $167.09
- Now 5% of itReached 6 May 2021 · Needs +2,081% to get back
- The highest price this coin has ever reached. The bar shows today's price as a share of it.
- Coins that exist now and can be traded.
- 158.78M ETC
- 75% of max
- Coins that exist now and can be traded.
- Every coin created so far, minus any destroyed, including coins that are locked up.
- 210.7M ETC
- Every coin created so far, minus any destroyed, including coins that are locked up.
- The most coins that can ever exist. Some coins have no limit.
- 210.7M ETC
- The most coins that can ever exist. Some coins have no limit.
Ethereum Classic converter
1 Ethereum Classic = $7.66
