About Ethereum Classic ($ETC)
Ethereum Classic refers to an independent blockchain network which uses the deployment of smart contracts to enforce contracts without the use of a third party facilitating the transaction. The Ethereum Classic network is the older of two networks - ETH Classic and Ethereum.
The Ethereum Classic token ticker is $ETC, and it is traded on its own independent blockchain network and available on several DEXs and centralized exchanges. Investors can buy Ethereum Classic and other select cryptocurrencies on the Firstrade cryptocurrency trading platform.
The difference between Ethereum Classic and Ethereum
Ethereum Classic is the older between it and Ethereum. In 2016 a hack occurred of a smart contract on the Ethereum Classic network. That particular smart contract was called The DAO, and it held over $11 million in liquidity invested by members of the digital currency’s community. It was a group of investors who made decisions for the progress of the community.
When the hack occurred, the community voted and decided to fork the network with an overwhelming 97% vote, and Ethereum Classic came from the split, along with the Ethereum mainnet token - $ETH. The news about Ethereum and the split brought about questions of security on the original network, even though security and other concerns have been continually addressed by the network, to the present day. Both networks operate smart protocol and act as payment intermediaries, but the popularity of the Ethereum network has sometimes overshadowed the Ethereum Classic network.
More about Ethereum Classic ($ETC)
Ethereum Classic was built to facilitate decentralized payments as a blockchain network, in addition to smart contract development. The network still operates as a payment network today. The fork between the networks saw Ethereum gain popularity, while Ethereum Classic does have some limitations in speed and scalability. The Ethereum Classic network has, however, made several upgrades to the network since.
The Firstrade cryptocurrency platforms allow investors investors to learn more about Ethereum Classic ($ETC) and check the most current cryptocurrency prices.