When was the ETC coin issued? Learn about the origin of ETC currency in one article
- Christopher NolanOriginal
- 2024-09-23 18:06:011102browse
Ethereum Classic (ETC) was released on July 20, 2016, and was formed from a hard fork of the Ethereum blockchain following the 2016 hack. The main difference between ETC and ETH is the blockchain it uses, its consensus mechanism, and its community focus. The ETC coin uses the original Ethereum blockchain and a proof-of-work consensus mechanism, while ETH uses a blockchain with a hard fork and plans to transition to a proof-of-stake consensus mechanism. The ETC coin community is focused on protecting the original vision of Ethereum, while the ETH community is more focused on innovation and scalability.
ETC coin release time
Ethereum Classic (ETC) coin on July 20, 2016 Release.
Origin of ETC Coin
ETC Coin is a hard fork of the Ethereum blockchain, triggered by the largest hacker attack in the history of Ethereum. In June 2016, hackers stole approximately $50 million worth of ETH from the Decentralized Autonomous Organization (DAO). In response to the hack, the Ethereum community decided to return DAO funds to the victims via a hard fork.
However, some Ethereum community members disagree with this decision, arguing that it goes against the decentralization principles of the blockchain. These opponents argue for continuing to use the original Ethereum blockchain, while those who disagree continue to use blockchains with hard forks. Eventually, these naysayers created Ethereum Classic, and another fork became what we know today as Ethereum.
The difference between ETC currency and ETH
The main difference between ETC currency and ETH is:
- Blockchain :ETC coin uses the original Ethereum blockchain, while ETH uses a blockchain with a hard fork.
- Consensus Mechanism: ETC coin uses the Proof of Work (PoW) consensus mechanism, while ETH plans to transition to the Proof of Stake (PoS) consensus mechanism.
- Community: The ETC coin community is more focused on protecting the original vision of Ethereum, while the ETH community is more focused on innovation and scalability.
ETC and ETH are still independent blockchains with their own unique features and use cases.
Ethereum Classic (ETC) Market Overview
Current Price: $19.003
24 Hour Trading Volume: $1.1724 billion
Market Cap: $2.829 billion
Recent Changes
In the past 24 hours, the price of ETC fell by 0.27%.
Price change factors
- Overall fluctuations in the cryptocurrency market
- Miners’ interest in ETC mining
- ETC Technology and development progress
Future Outlook
The price of ETC may continue to fluctuate in the short term. But in the long term, continued demand for the cryptocurrency and the growth of the ETC ecosystem will likely drive its price higher.
Investor Recommendation
Investors should carefully consider investing in ETC as the cryptocurrency market is highly volatile. Studying price history, fundamentals, and overall market sentiment is critical to making informed investment decisions.
Short-term forecast
In the short term, ETC may continue to fluctuate in the range of $17 to $21.
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