At the current time, there is an economic strengthening and development of the cryptocurrency market in the world economy. This direction is already at this stage one of the most significant aspects in the financial sector. It should be emphasized that with the development of the market as a whole, individual assets began to strengthen as well. So, not so long ago such a coin as Ethereum Classic was discussed. This coin has shown itself to be a popular and competitive asset among traders, and its performance has gone up sharply.
But what is Ethereum Classic and where did it come from?
This platform is a project related to the cryptocurrency market and working on the basis of the blockchain system and equipped with smart-contracts. The blockchain information system of this coin stores almost all information, namely, the data on the status of registry records and all software after the deals. Such a website is open to all users and is open source.
After figuring out what Ethereum Classic is, it is important to study its features and how to use it + how does it work in general.
As a rule, it is considered that the crucial feature of the coin consists in the smart-contracts. These contracts are distinctive for their operating mechanism. That is, the contracts function thanks to specific requirements are predefined, which are automatically followed during the period of approval and formation of transactions with traders. The program automatically analyzes every moment of the conclusion of documents, and also monitors the conditions that must be met in the course of obligations under the transaction (prescribed in the contract). In fact, the use of programs minimizes the chances of penetration into the details of the transaction by both third parties and fraudsters. Simply put, contacts provide extremely secure, strong, and reliable business deals.
Each of the users of the Blockchain information network is allowed to make transactions in relation to the Ethereum Classic asset, and they also have the right to store these coins in special wallets. Additionally, members of the platform are rewarded with digital coins for making business payments in financial transactions. The intra-platform functionality of the distribution of assets by transactions (AS) is used by the platform to distribute coins according to existing customer requests, as well as to exclude spam.
The service is not a centralized Internet platform, which has in its functionality the ability to activate scripts and at the same time use standard public nodes in the international network. The site was formed as a result of a hack of the DAO platform and refers only to an adjacent part of the original Ethereum. After the incident, the owners made a hard fork, which deactivated the transaction and built a completely new model of the block chain. Nevertheless, some of the clients did not accept this innovation and continued to cooperate with the resource, but on the old basis.
The platform is designed for the creation and development of new uncovered source application’s. The resource produces cryptocurrency, due to which users can create their tokens founded on the information blocks of the classic Ethereum. The project is conceding to the original Ethereum in its scale. And to some extent, this is its advantage, which is beneficial for application developers who choose the platform for work.
As for the mining organizations, they help maintain the independence and decentralization of the Classic version. Also, importantly, they help to stabilize the value of the coin on the market. The project is among the ten largest sites in the field according to the size of the market capitalization. Cash turnover to date is about 97 million tokens. In this case, the asset is available to everyone just as easy as Bitcoins, which are popular around the world.
Having understood what Ethereum Classic is, an investor must understand where to buy the asset and which store to use.
For competent transactions and their reliability you can always look at J2TX, where you will find an abundance of unique information about the cryptosphere, the possibility to purchase tokens, as well as the lack of commissions and instant transfers.
J2TX is a huge world of investing in one place.
This section displays information about cryptocurrency exchanges where you can buy Ethereum Classic cryptocurrency for other cryptocurrency.
The most popular altcoin for which it is possible to buy Ethereum Classic cryptocurrency is Tether. It is also possible to buy Ethereum Classic cryptocurrency for such altcoins as Bitcoin, ZTB, Wrapped BNB, Ethereum, Binance USD, Binance Coin, Bitcoin Cash, Global China Cash, SXC Token, XRP, FolgoryUSD, TRON, Qcash, VeChain, USDK, OKB, TrueUSD.
Excluding trading volumes, the cheapest way to buy Ethereum Classic cryptocurrency for cryptocurrency on HitBTC, Fatbtc exchanges,
The most favorable price can also be offered by any store from the list: Bittrex, ApeSwap, ZG.com, BW.com, Coineal, DigiFinex, Dove Wallet.
According to cryptocurrency experts, before you find out what Ethereum Classic is and buy the asset, you should know that ETC has a number of its advantages and disadvantages, which should be considered when planning cooperation with the platform. The list of advantages is quite impressive and includes such provisions:
Even despite the fact that initially the system had difficulties due to the lack of funds, it still showed itself in the market and interested many foreign investors.
However, despite the impressive list of positive characteristics, the cryptocurrency project has a number of disadvantages that every trader should know. The disadvantages of the system include the following factors:
Also, at the very beginning of the system's working path, there was another significant drawback. It consisted in the fact that most of the influential members of the project team, such as VitalikButerin, became on the side of the new modernized Ethereum. The Classic offshoot was left with virtually no patrons. But over time, a fairly large circle of interested investors formed around the site, which promoted the company.
We figured out what Ethereum Classic is, now let's look at the most popular questions about the coin.
If we believe CoinMarketCap statistics, today classic Ethereum is traded on 97 exchanges. OKEx, Bitfinex, Binance, Bithumb, Bittrex and other whales are in the top. The top 3 exchanges account for over $100 million in Ethereum Classic.
Core-Gath is the official wallet distribution site. It is Ɩong term supported by the ETC Core development team with stable funding from Ethereum Classic Labs. The availability of funding means that the wallet will not stop being supported and updated.
At the moment there are several teams working on the network:
The group itself is formed by a classified person who goes by the pseudonym Dexaran. The same organization creates standards for tokens, as well as the DexNS virtual agreement system.
The crypto market specialists refer the following characteristics to the features of this resource:
The administrators of the platform are convinced that the project is for the main purpose of keeping the informative block chain in its original form. They want to offer an alternative option for those users who do not support the preservation of an abstract database interface and pulling a new resource.
In addition, the developers themselves believe in the future and the prospects of classical Ethereum and blockchain, which are protected from censorship norms and open to all comers. That is complete freedom.
Ethereum Classic exchange rate to the dollar has undergone minor changes during the whole time of the site's existence. So, initially appearing on the market, the coin was worth 75 cents. But by mid-summer, the cryptocurrency had already reached a mark of 2.76 USD. At the same time, the turnover amounted to 143 million.
This rise was followed by a period of stagnation. The price remained fixed, and the average daily trading volume did not exceed several million dollars. But in April 2017, quotations became firmly entrenched in the stock market, and already in May the price per asset reached the value of 7.58 USD. So within a short time, the price began to rise steadily, and already in early summer one Ethereum Classic was worth $24. But this quote did not stay for long. Further dynamics up to the present day showed itself as a constantly changing rate, although there is a positive growth in value.
Today, the price per coin is considerably more U.S. dollars than it was when it first appeared.
Some participants in the cryptocurrency business are interested in the question of how many Ethereum Classic are on the stock market. After all, they can be mined, and the issue has not been limited for some time. Analysts say there are about 112,526,592,000 coins in circulation today.
And if you want to enjoy a relaxed and easy currency exchange, you can always use J2TX, because only here the most attractive exchange rates, there is an opportunity to invest in Ethereum, as well as you can buy current tokens, bringing super profits.
J2TX - simple, profitable, safe!
Get round-the-clock updates, analysis, and insights on the news that matters most.