Manage your ETC
with NOW Wallet
How it works
How to buy Ethereum Classic with card
- Pick ETC as the currency you want to buy.
- Choose a fiat currency to buy ETC with.
- Enter your card details and the recipient's address if you are sending to a third-party wallet.
- Receive your ETC in approximately 5 mins!
How to exchange Ethereum Classic
- Pick ETC as the currency you want to exchange.
- Choose the crypto asset you’d like to get for your ETC.
- Enter the recipient's address if you are exchanging to a third-party wallet.
- Receive your exchanged assets in approximately 5 mins!
What is Ethereum Classic (ETC)
Ethereum Classic (ETC) Definition
Ethereum Classic (ETC) is an open-source, decentralized, blockchain-based computing platform designed for self-executing smart contracts. Smart contracts are simply programs that run as programmed on a blockchain when predetermined conditions are met, and there is no possibility of censorship or third-party interference. The agreement between a buyer and seller is written in lines of code within the smart contract.
The DAO hack
The DAO (decentralized autonomous organization) was launched in 2016 on Ethereum. After raising $150 mln USD worth of ETH, The DAO was hacked due to vulnerabilities in its code. The Ethereum community decided to hard-fork the blockchain to restore the stolen funds. However, not all parties agreed with this decision, which lead to the network split into two distinct blockchains each with its own cryptocurrency: Ethereum continuing under the guidance of Vitalik Buterin and Ethereum Classic remaining as the “immutable” original chain.
Ethereum and Ethereum Classic
Ethereum Classic features Ethereum Virtual Machine (EVM) as an execution engine optimized for smart contract processing. Unlike Ethereum, Ethereum Classic is committed to remaining on a Proof of Work (PoW) consensus system, because it believes that it provides better decentralization and security. Ethereum Classic offers a more defined monetary policy and inflation schedule than Ethereum, while Ethereum has gained popularity as the more legitimate of the two networks.