Ethereum Classic

ETC Rank #67

$8.83▼ 0.23%24h

Low $8.78High $8.90

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Market cap$1.40BRank #67

Fully diluted value$1.40B

Volume (24h)$46.09MVol / Mcap 3.29%

Circulating supply158.37M75.2% of max

Total supply158.37M

Max supply210.70M

All-time high$167.09May 6, 2021

All-time low$0.615Jul 24, 2016

What is Ethereum Classic?

Origin and chain history

The chain's history begins with Ethereum's mainnet launch on July 30, 2015. In July 2016, Ethereum adopted a state change addressing the DAO exploit. Ethereum Classic participants continued the chain without that change. The two networks therefore share early history but maintain separate transactions and state after the split. ETC is the native asset of the continuing Ethereum Classic chain.

Execution and mining

Ethereum Classic runs the Ethereum Virtual Machine for contract execution. Applications use accounts, contract storage, and transaction gas. Miners secure the chain through proof of work rather than validator staking. The network uses Etchash, a modified Ethash algorithm introduced by the Thanos upgrade in 2020. Mining rewards and transaction fees compensate participants who produce accepted blocks.

Monetary policy and uses

ETC pays for transfers and smart-contract computation on the network. It can also be held or transferred independently of an application. The ECIP-1017 monetary policy reduces block rewards by 20 percent at intervals of five million blocks. This declining issuance schedule places eventual supply at approximately 210.7 million ETC. Ethereum Classic's monetary and consensus rules are maintained through its own upgrade process.