Ethereum Classic/ETC

While the world is getting more and more acquainted with the Ethereum currency, a group within the Ethereum community are also growing more fond of and becoming attached to Ethereum Classic.

The Difference Between The Two

In the beginning there was Ethereum. Those familiar with Ethereum knows that it is also based on the block chain type of code and provides extra security measures based on smart contracts, to handle transactions among its peers. Ethereum Classic also relies on smart contracts as well. So you might be asking, what exactly is the difference between the two. The answer to this boils down to ideology and opinions.

Ethereum Classic has its origins based on a hack in the Ether network, specifically the DAO tokens which became super popular among the members. But the flaw in administering this tokens let to the super hack which stole roughly $50 million dollars worth of the tokens, and thus a dilemma was started. Do you do nothing, or do you remedy the situation by adding a hard fork, which means decentralizing the code.

Those who opposed the hard fork stance remained with the original Ethereum chain, otherwise known as Ethereum Classic. Ethereum Classic has all the functionalities as the Ether, but it is not hard forked. In order to use Ethereum Classic, you will need an appropriate wallet. Some popular wallets include The Trezor wallet. The Trezor can be installed on both desktops and on mobile devices via an app. It comes equipped to handle multiple accounts and it supports several crypto currencies in addition to Ethereum Classic.

Another popular wallet is the Classic Ether Wallet where you have the choice of using its lite functions or you can utilized other sturdier wallets such as the Ledger Tezor and the Jaxx wallets. For a full break down on how to use Ethereum Classic, there is a full guide with many detailed sections.

Ethereum Classic gives its members the opportunity to avail themselves and handle their transactions with several of Ethereum Classic chains. And if you are a miner, you can indulge in several mining pools, some of which contains Epool, 91 Pool and Ethermine plus a whole host of others. For any questions or concerns there is a very large forum and base with regards to Ethereum Classic. There is also a frequently asked questions section where you can find answers to common questions.