Buy Ethereum Classic (ETC) with CoinJar
Ethereum Classic
ETC
Overview
What is Ethereum Classic?
What Is Ethereum Classic (ETC)? It is a smart contract network, where developers build and run apps (called dApps, which are apps built on the rather than on the internet). The native token of this network is ETC.
Let’s break it down.
Understanding Ethereum Classic (ETC)
The origins: Ethereum Classic’s birth
Ethereum Classic was born in 2016 as a result of a significant event in the crypto world. To understand it, we need to rewind a bit.
The DAO hack
Imagine a digital organization called The DAO (Decentralized Autonomous Organization).
It was like a venture capital fund run by code on the Ethereum blockchain. People invested their money in The DAO, hoping for great returns. But then, disaster struck! A hacker in The DAO’s smart contract and drained a massive amount of Ether (ETH).
The great divide
The Ethereum community faced a dilemma. Should they reverse the hack and return the stolen funds (like hitting the “undo” button)? Or should they stick to the principle that “Code is Law,” meaning that once a smart contract executes, its outcome is final?
The split
The community split into two camps: Majority Opinion and the Rebels.
Majority Opinion
Most people chose to reverse the hack, creating a new version of Ethereum (which we now know as Ethereum or ETH).
The Rebels
A smaller group believed in the original Ethereum vision. They stood by the unaltered history and the Proof-of-Work (PoW) consensus mechanism. This group became Ethereum Classic (ETC).
What makes Ethereum Classic unique?
Code Is Law
ETC sticks to the idea that smart contracts are like legal contracts. Once they execute, there’s no turning back. If you invest in a flawed project, you bear the consequences.
Decentralized governance
ETC’s smart contracts operate without intermediaries. No lawyers, no judges just code. If conditions are met, the contract self-executes. If not, penalties apply.
Blockchain twins
Think of Ethereum as the older twin and Ethereum Classic as the younger one. They share DNA (the same codebase) but have different personalities. ETC retains the original blockchain, while ETH has moved to Proof-of-Stake (PoS).
Smart contracts
What Are Smart Contracts? Imagine if contracts could execute themselves. They automatically enforce agreements when specific conditions are met.
Here are some everyday examples. Take real estate for example.
If the buyer pays the deposit by a certain date, the contract proceeds.
No lawyers are needed, the code does the job.
Smart contracts live on a distributed ledger (a fancy term for a shared database). No central authority controls them. They’re tamper-proof and transparent.
Conclusion: Ethereum Classic
Ethereum Classic is like the rebel sibling. It clings to the original Ethereum principles, even when the majority went a different way.
So, next time you hear about ETC, remember, it’s the blockchain that believes in “Code is Law.”
Bank transfer (ACH and wire), or crypto?
Buy Ethereum Classic instantly with your bank account via ACH or deposit with wire transfer. Easily buy with ACH, wire cash to your account, or swap one cryptocurrency for another in a single click.How to buy Ethereum Classic with CoinJar
Start your cryptocurrency portfolio with CoinJar by following these simple steps.
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Frequently asked questions
What is Ethereum Classic?
Ethereum Classic (ETC) is a blockchain-based cryptocurrency platform that operates using smart contracts. It emerged in June 2016 as a result of a significant event in the crypto world.
Where can I buy Ethereum Classic?
You can buy Ethereum Classic (ETC) directly on CoinJar. Sign up, verify your account, and purchase ETC with USD by linking your bank account for ACH instant buys or depositing funds via wire transfer.
Could Ethereum Classic reach $10,000?
While possible in theory, Ethereum Classic reaching $10,000 would require massive growth in adoption and market cap, far exceeding current projections. It’s speculative and unlikely in the near term.
What is Ethereum Classic price today?
The Classic price fluctuates based on market conditions. You can view the current Ethereum Classic price at the top of this page, which updates in real-time. The Classic price is influenced by trading volume, market sentiment, and overall crypto market trends.
How can I sell Ethereum Classic?
You can sell your Ethereum Classic holdings through CoinJar's platform. Navigate to your portfolio, select your ETC holdings, and choose to sell at the current market price. The proceeds will be available in your account for withdrawal or to buy other cryptocurrencies.
Where can I trade Ethereum Classic?
CoinJar allows you to trade Ethereum Classic against USD. You can trade ETC via the app or by placing buy or sell orders through the . Our trading interface makes it simple to buy Ethereum Classic or trade it for other digital assets.
Can I instantly buy Ethereum Classic?
Yes, you can instantly buy Ethereum Classic on CoinJar once your account is set up and funded. Our platform allows you to buy Ethereum Classic immediately at current market prices without waiting for order matching.
What's the difference between Ethereum and Ethereum Classic?
Ethereum Classic is the original Ethereum blockchain that continued after the 2016 hard fork. While both networks share similar technology, Classic Ethereum maintains the original blockchain's immutability principle. When you buy Ethereum Classic, you're investing in the original vision of the Ethereum network.
How do I place an order for Ethereum Classic?
To place an order for Ethereum Classic, log into your CoinJar account and navigate to the . You can place market orders to buy Ethereum Classic immediately or limit orders at your preferred Classic price.
Is Ethereum Classic the same as Classic Ether?
Classic Ether (ETC) is the native cryptocurrency of the Ethereum Classic network. When you buy Ethereum Classic, you're actually purchasing Classic Ether tokens that power the Ethereum Classic blockchain.
Can I buy cryptocurrencies other than Ethereum Classic?
Yes, CoinJar allows you to buy cryptocurrencies beyond Ethereum Classic. Our platform supports multiple digital assets, making it easy to diversify your crypto portfolio. You can buy cryptocurrency options including Bitcoin, Ethereum, and many others.
What are the benefits of buying Ethereum Classic?
Buying Ethereum Classic offers exposure to one of the established blockchain networks with a strong commitment to immutability. Classic buy decisions are often based on the network's reliability, established history, and continued development. The Ethereum buy vs Classic buy decision depends on your investment goals and beliefs about blockchain governance.
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