What Is Ethereum Classic?

Ethereum Classic?

If you are familiar with digital currency, there is no reason that you don’t have any opinion about this matter. This is the both ideological and ethical battle between Ethereum and Ethereum Classic. It is so important to know and learn first the history of the two before drawing some conclusions on their differences.

A ton of things expected to occur for us to touch base in this guess. Thus, how about we dial back the checks and look at probably the most basic focuses in not simply Ethereum history, but rather digital currency when all is said in done.

The DAO Foundation

The whole ecosystem of Ethereum deals with the premise of smart contracts. For the uninitiated, smart contracts are fundamentally how things complete in the Ethereum eco-framework. To place it in layman terms, smart contracts are mechanized contracts that authorize and encourage the terms of the agreement itself.

The DAO otherwise known as the Decentralized Autonomous Organization was a perplexing smart contract which would alter Ethereum for eternity. It was essentially going to be a decentralized investment subsidize which would finance all future DAPPS made in the eco-framework.

The way it worked was truly clear. On the off chance that you needed to have any say toward the path DAPPS that would get financed, at that point you would need to purchase “DAO Tokens” for a specific measure of Ether. The DAO tokens were markers that you are presently authoritatively part of the DAO framework.

Anyway, how were DAPPS going to get endorsed and constructed? All things considered, right off the bat they have to get whitelisted by the guardians, who have essentially known nonentities in the Ethereum world. In the wake of getting their blessing, they will get voted on by the DAO token holders. On the off chance that the proposition gets a 20% endorsement in the vote, at that point they will get the expected assets to begin.

The capability of the DAO and the adaptability, control and finish straightforwardness that it offered was exceptional; individuals jumped in to get their offer of the pie. Inside 28 days of its arrangement, it gathered over $150 million worth of ether in a crowdsale. Around then, it had 14% of all ether tokens issued to date.

You may ponder, that is all great however how can one leave the DAO? Imagine a scenario in which some DAPP gets affirmed that you are not an immense devotee of, how would you quit the DAO at that point.

To empower this, a leave entryway was made called the “Part Function.” Using this capacity, you would get back the ether you have contributed and, on the off chance that you so wanted, you could even make your own “Child DAO.” actually, you could separate from with various DAO token holders and make your own Child DAO and begin tolerating recommendations.

There was one condition in the agreement, be that as it may, in the wake of dividing from the DAO you would need to clutch your ether for 28 days before you could spend them. So everything looks pleasant and spiffy for the time bein…aside from, there was one little issue. Many people saw this conceivable escape clause and pointed it out.

The DAO makers guaranteed this was not going to be a major issue. The main thing is, it was, and that made the whole tempest that split Ethereum into Ethereum and Ethereum Classic.

The DAO Attack

On seventeenth June 2016, somebody abused this very escape clause in the DAO and siphoned away 33% of the DAO’s assets. That is around $50 million dollars. The escape clause that the hacker(s) found was really direct looking back.

In the event that one wished to leave the DAO, at that point they can do as such by sending a demand. The part capacity will then take after the accompanying two stages:

  • Give the client back his/her Ether in return of their DAO tokens.
  • Enlist the exchange in the record and refresh the inward token adjust.
  • What the programmer did was they made a recursive capacity in the demand, so this is the way the part work went:
  • Take the DAO tokens from the client and give them the Ether asked.
  • Before they could enlist the exchange, the recursive capacity influenced the code to backpedal and exchange much more Ether for the same DAO tokens.
  • This continued forever until $50 million worth of Ether were taken out and put away in a Child DAO and as you would expect, disorder experienced the whole Ethereum people group. </ul> As Gavin Wood, the fellow benefactor of Ethereum puts it, reprimanding Ethereum for the DAO hack resembles saying "The Internet is broken" each time a site goes down.

    Consequence of The DAO Attack

    Presently, while Ethereum is in no shape or frame to fault for what occurred with the DAO, in any case, the occurrence smashed the convictions that individuals had in digital currency all in all. The cost of ether dove from $20 to $13, and individuals were straightforwardly praising. Despite the fact that the programmer took away $50 million worth on Ether, it was all the while sitting in the kid DAO, and he couldn't yet get to them on the grounds that the DAO smart contract unequivocally expressed that any of the contributed ether removed from the DAO wouldn't be available for 28 days. In light of this the Ethereum people group and group chose to make a move and three potential arrangements were called attention to:
    • No one Does Anything.
    • Soft Fork.
    • Hard Fork.
    • No one Does Anything
    A few people contended that rolling out any improvements will conflict with the very nature and hidden reasoning of Ethereum itself. All things considered, it should be changeless and "code is law." Many individuals weren't content with this, nonetheless, so dominant part voted on running with a Soft Fork.

    What Is A Soft Fork?

    At whatever point a bind should be refreshed there are two methods for doing that: a soft fork or a hard fork. Consider soft fork as a refresh in the product which is in reverse good. What does that mean? Assume you are running MS Excel 2005 on your tablet and you need to open a spreadsheet worked in MS Excel 2015, you can at present open it since MS Excel 2015 is in reverse good. Be that as it may, having said that there is a distinction. Every one of the updates that you can appreciate in the more up to date form won't be unmistakable to you in the more seasoned variant. Backpedaling to our MS Excel relationship once more, assume there is a component which permits to put in GIFs in the spreadsheet in the 2015 form, you won't see those GIFs in the 2005 rendition. So essentially, you will see all content however won't see the GIF. That is fundamentally what Ethereum intended to do with their blockchain, a soft fork wherein it's your decision whether you need to refresh or not, but rather in any case the refreshed clients and the non-refreshed clients could in any case connect with each other. The thought was to totally secure the ether that was stolen by the programmer by disregarding and isolating any obstructs that contain an exchange which will enable the programmer to move around their stolen ether. This appeared like an incredible arrangement and lion's share of the Ethereum people group was ready, yet then an issue surfaced, an issue which conveyed the whole group to another difficulty. Executing a delicate fork would bring about a " Denial Of Service" (DoS) assault vector.

    Understanding The Soft Fork DoS.

    All mining exercises are remunerated by "Gas" in the Ethereum biological system. That is the essential path by which miners are shielded from DoS assaults. Assume somebody chooses to assault the system by flooding it with exchanges which require troublesome calculations. The mineworkers would then be able to take a seat and execute these calculations and regardless of the possibility that they neglect to finish them effectively they will get a Gas score which is equal to various calculations that they have done. So additional tedious and troublesome the calculation, the more Gas they gather, and in the meantime, the Attacker should spend their very own great deal cash to make these assaults. However, what happens is, the minute this soft fork gets executed the assailant will discover a circled this framework. Presently the assailant can surge the system with exchanges which interface with the DAO and influence the excavators to do perpetual complex calculations for practically zero Gas cost and at no fiscal cost to the aggressor. Actually, the assailant can even trap the mineworkers into tackling a malevolent calculation by setting a high Gas cost. What this implied was that the delicate fork was not a no go. This implied there was just a single path for the Ethereum people group to go and that was the "Hard Fork."

    What Is A Hard Fork?

    The essential contrast between a delicate fork and hard fork is that it is not in reverse perfect. When it is used, there is positively no backpedaling at all. In the event that you don't join the redesigned adaptation of the blockchain, at that point you don't access any of the new updates or communicate with clients of the new framework at all. The market cap for ETC as of now remains at a little finished $1.5 billion and is as of now the fifth most costly cryptographic money on the planet. All in all, for what reason did individuals stay with an old chain when all the Ethereum substantial hitters, including originators Vitalik Buterin and Gavin Wood, moved onto the new chain? All things considered, the response to that is a more philosophical one. You see when Ethereum, and digital money all in all, was presented, it should be a position against budgetary debasement. The motivation behind why the blockchain was made permanent was that they needed the framework to be strong against human impulses. This is the reason, to numerous ETC sympathizers, the hard fork is an advantageous cop-out, on the off chance that you are changing the whole chain by one hack then that totally invalidates the point of Ethereum in any case. You are demonstrating that the blockchain can be influenced by human impulses. What's more, this has resounded with a considerable measure of "crypto-optimists." Some quite enormous hitters like Barry Silbert, the CEO of Grayscale, have become behind ETC. Presently every one of that sounds well and great, however there are a few issues with Ethereum Classic which essentially can't be overlooked.

    The Problems with Ethereum Classic

    The fundamental issue with the ETC is the absence of in reverse similarity with the Ethereum Hard Fork. Every one of the heavyweights of the Ethereum people group have proceeded onward to the new chain, which implies that any individual who is a piece of the ETC won't have the capacity to get to any of the updates done by the ETH. The ideal illustration is ETH's turn from Proof Of Work (PoW) To Proof of Stake (PoS). And so forth won't have the capacity to actualize that on the grounds that their product just doesn't permit the utilization of updates. In any case, progressively that is not the finish of it; there are significantly more loathsome issues with ETC some of which verges on connivance. Many view ETC as an assault against Ethereum itself. What does that mean? Post hard fork when the group was part and powerless, many say that the counter Ethereum camp transparently bolstered ETC, just to cause disturbance in the group. Significantly more, noticeable bloggers like David Seaman have announced that "Great is an uncertain vagrant chain being advanced in a way that would be unlawful if Ethereum were a traded on an open market organization, which it could in the end be."

    Ethereum Hard Fork otherwise known as ETH

    ETH is the aftereffect of the hard fork and what is presently viewed as the "new Ethereum." As of composing, ETH remains at $260.94 (as indicated by CoinMarketCap). We should look at the diagram:
    • The market cap for ETH as of now remains at a stunning $24 billion and is right now the second most costly digital money on the planet behind bitcoin.
    • ETH is the new type of Ethereum, regardless of what the spoilers say. The first overwhelming hitters are all piece of the framework, and ETH additionally happens to be the one experiencing the most progressive changes (like the previously mentioned change from POW to POS). ETH was shaped for one reason and one reason alone – to restore the assets stolen by "the DAO aggressor" back to the legitimate proprietors.
    • ETH speaks to far beyond what it seems, by all accounts, to be at first glance; it speaks to a triumph for the Ethereum people group. They met up in the wake of confronting the most noticeably bad hack in cryptographic money history, stuck together and made something that is more grounded than its antecedent.
    Yet, having said that, as we have specified some time recently, there is one issue with ETH, and as indicated by Pro-ETC fans, it is an ideological one.

    The Problems with ETH

    Like we have specified some time recently, the development of ETH conflicts with the possibility of the changelessness of the blockchain and the reasoning of "code being law." according to against ETH people, the hardfork was a cop out from Ethereum, and they ought to have acknowledged the fundamental blockchain for what it was. Another issue that was raised was how was anybody going to know for beyond any doubt that not any more hard forks would occur later on subject to human impulses? Imagine a scenario where there are numerous hard forks making diverse forms of Ethereum. Consider the possibility that there are several distinct variants of Ethereum running in the meantime. Won't that incredibly cheapen it and cryptographic money when all is said in done? (Despite the fact that a dominant part vote of the Ethereum people group would be required to roll out such momentous improvements). Let’s list out the pros and cons of both Ethereum Classic & Ethereum

    Ethereum Classic

    Pros
    • Stays true with the philosophy of the immutability of the blockchain.
    • Has recently got the backing of a few big players
    Cons
    • Doesn’t get access to all the new updates made in the ETH chain (e.g.,. The move from POW to POS).
    • All the heavyweights of the Ethereum have moved on to ETH.
    • Considered an insult and an attack on the Ethereum community.
    • Is know to be full of scammers.

    Ethereum

    Pros
    • Is growing at an exponential pace.
    • Has the majority of the original big dogs who have created Ethereum in its corner.
    • Has reversed the DAO hack and given back the stolen money to its rightful owners (the DAO token holders).
    • Is being constantly updated with the latest changes.
    • Has a higher hash-rate than ETC.
    • A powerful example of what the Ethereum community is capable of when it comes together to solve a problem.
    • ETH is backed by a powerful group of over 200 corporations called the Enterprise Ethereum Alliance (EEA) which aims to use the blockchain technology to run smart contracts at Fortune 500 companies. Members include: Microsoft, JP Morgan, Toyota, ING, etc.
    Cons
    • Goes against the policy of immutability.
    Ethereum has made a staggering rebound from an outright calamity, and it would seem that it's going satisfy every one of the desires that individuals had in it when it began. More than anything, the genuine energy of Ethereum lies in its full degree. It is not only a money; it is a stage on which individuals can construct ventures which will manage what's to come. On the off chance that decentralization is in fact the future, at that point Ethereum will be in the up front of it. Presently, this makes one wonder: What does this mean for ETH and ETC? ETH has all the lead engineers on its side and will develop from quality to quality. Presently with the support of the EEA, it is just going to improve. The estimation of any money originates from the assume that individuals has on it, and in view of every one of these variables, the trust in ETH is just going to develop. A great deal of specialists are anticipating that ETH will be the main digital currency since Bitcoin to break the $1000 hindrance. For ETC, lamentably, the same can't be said. According to the general population, ETC is continually going to be odd one out of the Ethereum family. Starting at this moment, ETH is about 15 times more profitable than ETC, and it truly wouldn't improve. Besides, the way that ETC is known to be loaded with con artists just lessens the assume that individuals have in it, which thusly decreases its esteem. Is it accurate to say that we are stating that it is going to totally vanish from the market? No. Is it accurate to say that we are stating that it doesn't have much development potential? Possibly, perhaps not. The delightful thing about the blockchain space is… as Milton Fridman said "Free pick" And so on kept their chain and push ahead, that is the excellence of blockchain mechanics and free private enterprise. What's to come is brilliant for ETH, and it will continue developing. It is a living confirmation of what the Ethereum people group is able to do. They confronted a genuine emergency, stuck together and concocted a really exquisite arrangement. ETH is the future, and in the event that you are a supporter of Ethereum and have confidence in what it remains for, at that point you should be in camp ETH.

    Getting Started With Ethereum Classic

    Ethereum Classic is an open-source, peer-to-peer, computing platform based on blockchain technology and the original Ethereum code. Just like Ethereum, it provides a value token, or “altcoin”, called “classic ether” which is used to pay users for products and services, and as a transaction fee when using decentralized apps and smart contracts.

    Ethereum Classic VS Bitcoin

    As a platform, Ethereum Classic aims to take advantage of the incredible power behind bitcoin’s blockchain technology. While the developers of bitcoin restricted the blockchain to only compute currency transactions, Ethereum Classic, like Ethereum, aims to build a decentralized computing system on top of the blockchain.

    Decentralized Applications

    The core goal and vision of Ethereum remains in Ethereum Classic. The aim is to build a blockchain platform that allows software developers to build applications whose databases and transactions are stored, not on a single server owned by a specific company, but on all nodes and users connected to the Ethereum Classic blockchain. Investing in Ethereum Classic is as simple as buying and holding some Classic Ether. As more users buy and use ETC, and developers build more decentralized apps for the Ethereum Classic blockchain, more confidence might be instilled in the platform and as a result the value and price of the coin would be more likely to rise.

    Using Ethereum Classic

    Install an Ethereum Classic wallet. Wallets that can access the Ethereum Classic blockchain are often able to access the Ethereum blockchain as well. Make sure you set it up correctly or you might end up sending ETC to the wrong user. Get the recipient’s wallet address. The recipient of ETC will give you a public key address, either as a string of numbers and letters, or as a QR code which you can scan with your phone. Enter the value to send. After agreeing upon an amount to send, enter the value of ETC into your wallet, ensuring that you have the required amount of funds available. Send the money. After pressing “Send” (or the equivalent button in your wallet), the ETC amount will be deducted from your wallet and added to the recipient’s. The transaction should appear immediately, but it might take about a minute to verify completely.

    How To Get An Ethereum Classic Wallet?

    Using Mist Ethereum Wallet

    For the command line averse, there is now a GUI-based option for creating accounts: The “official” Mist Ethereum wallet. The Mist Ethereum wallet, and its parent Mist project, are being developed under the auspices of the Ethereum Foundation, hence the “official” status. Versions of the wallet app are available for Linux, Mac OS X, and Windows. Creating an account using the GUI Mist Ethereum wallet couldn’t be easier. In fact, your first account is created during the installation of the app. 1. Download the latest version of the wallet app for your operating system. Opening the Wallet App will kick off syncing a full copy of the Ethereum blockchain on your computer, since you will in effect be running a full geth node. 2. Unzip the downloaded folder and run the Ethereum-Wallet executable file. 3. Wait for the blockchain to fully sync, then follow the instructions on the screen and your first account will be created. 4. When you launch the Mist Ethereum wallet for the first time, you will see the account you created during the installation process. By default it will be named MAIN ACCOUNT (ETHERBASE). 5. Creating additional accounts is easy; just click on ADD ACCOUNT in the app’s main screen and enter the required password.

    Creating a Multi-Signature Wallet in Mist

    The Mist Ethereum wallet has an option to secure your wallet balance with a multisig wallet. The advantage of using a multisig wallet is that it requires authorization from more than one account to withdrawal larger amounts from your balance. Before you can create a multisig wallet, you’ll need to create more than one account. It’s very easy to create account files in Mist. In the ‘Accounts’ section click ‘Add Account’. Pick a strong yet easy-to-remember password (remember there is no password recovery option), confirm it, and your account is created. Create at least 2 accounts. Secondary accounts can be created on separate computers running Mist if you prefer (and theoretically make your multisig more secure doing it this way). You only need the public keys (your deposit addresses) of your secondary accounts when creating the multisig wallet (copy/paste them, do not ever type them by hand). Your primary account will be needed to create the multisig wallet contract, so it must be on the computer you are creating the multisig wallet on. Now that you have your accounts setup, be safe and back them up (if your computer crashes, you will lose your balance if you do not have a backup). Click ‘Backup’ in the top menu. Choose the ‘keystore’ folder, opposite-click on it / choose ‘copy’ (do NOT choose ‘cut’, that would be very bad). Navigate to your desktop, opposite-click in a blank area and choose ‘paste’. You may want to rename this new copy of the ‘keystore’ folder to something like ‘Ethereum-keystore-backup-year-month-day’ so you have quick recognition of it later. At this point you can then add the folder contents to a zip / rar file (and even password-protect the archive with another strong yet easy-to-remember password if backing up online), copy it to a USB Drive, burn it to a CD / DVD, or upload it to online storage (Dropbox / Google Drive / etc). You now should add approximately no less than 0.02 ETH to your primary account (the account you will initiate creation of a multisig wallet with). This is required for the transaction fee when you create the multisig wallet contract. An additional 1 ETH (or more) is also needed, because Mist currently requires this to assure wallet contract transactions have enough ‘gas’ to execute properly...so no less than about 1.02 ETH total for starters. You will be entering the full addresses of all the accounts you are attaching to this multisig wallet, when you create it. I recommend copying / pasting each address into a plain text editor (notepad / kedit / etc), after going to each account’s details page in Mist, and choosing ‘copy address’ from the right-side column of buttons. Never type an address by hand, or you run a very high risk of typos and could lose your balance sending transactions to the wrong address. We are now ready to create the multisig wallet. Under ‘Wallet Contracts’, select ‘Add Wallet Contract’. Give it a name, select the primary account owner, and choose ‘Multisignature Wallet Contract’. You will see something like this appear: “This is a joint account controlled by X owners. You can send up to X ether per day. Any transaction over that daily limit requires the confirmation of X owners.” Set whatever amount of owners (accounts) you are attaching to this multisig wallet, whatever you want for a daily withdrawal limit (that only requires one account to withdrawal that amount), and how many owners (accounts) are required to approve any withdrawal amount over the daily limit. Now add the addresses of the accounts that you copied / pasted into your text editor earlier, confirm all your settings are correct, and click ‘Create’ at the bottom. You will then need to enter your password to send the transaction. In the ‘Wallet Contracts’ section it should show your new wallet, and say ‘creating’. When wallet creation is complete, you should see your contract address on the screen. Select the entire address, copy / paste it into a new text file in your text editor, and save the text file to your desktop as ‘Ethereum-Wallet-Address.txt’, or whatever you want to name it. Now all you need to do is backup the ‘Ethereum-Wallet-Address.txt’ file the same way you backed up your account files, and then you are ready to load your new multisig wallet with ETH using this address. If you are restoring from backup, simply copy the files inside the ‘Ethereum-keystore-backup’ folder over into the ‘keystore’ folder mentioned in the first section of this walkthrough. FYI, you may need to create the ‘keystore’ folder if it’s a brand new install of Mist on a machine it was never installed on before (the first time you create an account is when this folder is created). As for restoring a multisig wallet, instead of choosing ‘Multisignature Wallet Contract’ like we did before when creating it, we merely choose ‘Import Wallet’ instead.

    Ledger For Ethereum Classic

    The Ledger Nano S and The Ledger Bue manage Ethers (ETH and ETC) tokens. It works on Windows (7+), Mac (10.8+), Linux or Chrome OS. It requires Google Chrome or Chromium, and one USB port to plug your Ledger Nano S or your Blue. it doesn't work on Android and iOS.

    The Nano and the HW.1 don't support Ethereum.

    1. install the Ledger Wallet Ethereum application on your computer
    • Go to this page and click on the "GET THE APP" green button
    • Download the Ledger Wallet Ethereum application
    • (the application is signed by an "Epic Dream SAS" certificate) </li>
    • Open the downloaded folder to install it:
      • - On Mac, you must run a 10.8+ OS
      • - On Linux, don't forget to set up the updev rules
      • - On Windows, you must run at least Win7: click on "Additional Information" to launch the installation despite the anti-virus warning (it won't affect the integrity of your PC)
    2. install the Ethereum application on your device via the Ledger Manager
    • Launch the Ledger Manager (click to see how to install and use it if you don't have it installed yet)
    • Connect your Nano S or your Blue, enter your PIN, and stay on the dashboard.
    • Click on the green bottom arrow icon near the Ethereum logo
    • Confirm the installation when required on your device.
    • Quit the Ledger Manager
    • These 2 first steps are only required once. Now everything is ready to manage your Ethereum account.
    3. Once these apps are installed, to open your Ethereum account, just:
    • Open your Ethereum application on the device itself
    • Disable the "Browser support" setting:
    • ON A NANO S
      • - scroll with the right button to find the "settings", press both buttons to open them
      • - scroll with the right button to find the "browser support", press both buttons to open it
      • - select NO by pressing both buttons to disable the browser support
    • ON A BLUE
      • - tap on the top left menu
      • - disable the "browser support" by taping on it to make the slider displayed in grey
    • Launch the Ethereum Chrome app on the Chrome or Chromium browser on your computer
    • Chose ETH if you want to manage Ethereum, ETC if you want to manage Ethereum Classic
    • It will open your Ethereum (or Ethereum Classic) wallet
    • The wallet synchronizes and opens

    HOW DOES IT WORK

    This application is an account manager, where you can send and receive Ethereum transactions and check your balance. The only way to open it is to connect your Nano S or Blue, make your PIN code and launch the Ethereum app on your device. Without the device, the app won't launch. You'll then have to choose on your computer between Ethereum and Ethereum Classic. Please be careful to choose the right wallet as it would be difficult - but not impossible - to recover tokens sent on the wrong account. For each sending transaction, your application will ask you to verify it on your device: your device will display the amount, recipient address and gas rate you will have to manually sign by confirming everything is alright on the device.

    UPDATES & TROUBLES

    The Ethereum application updates automatically, you don't have anything to do. Each time Ledger releases an update, it will be synced after a few hours on your computer. If you want to force an update to the latest version, just restart Chrome.

    Ethereum Classic Resources

    How To Buy Ethereum Classic?

    The most notable and contentious hard-fork in cryptocurrency history produced Ethereum Classic. When a large smart-contract went awry and many millions of dollars worth of ethereum that the community had pooled for development had been attacked due to a vulnerability in the contract, the community had a choice to make. Either alter the blockchain to return the funds to the original owners or leave it be. A majority voted to give the funds back to the investors, but a vocal minority did not and exercised their right to vote with their mining power. The ethereum network split and now we have ETH and ETC. ETC is identical to ETH except with a different development schedule and different community and different blockchain. Step 1: Buy Bitcoin with Government Issued Currency (fiat) For U.S. residents and many people in the world this can be done through Coinbase. Other options include cex.io, localbitcoins or even Bitcoin ATMs and many others. Bottom line is there are many ways to buy Bitcoin at varying prices depending on convenience. Step 2: Transfer BTC to exchange Send a transaction from your wallet to the exchange’s wallet and wait for the deposit to confirm. This could take awhile due to Bitcoin network congestion. Some good exchanges that list ETC are Bitfinex, Kraken and Poloniex.
    buy ethereum classic
    Step 3: Convert BTC to ETC Using BTC/ETC Trading Pair Look at the market depth and current ask price. The ask price is what people are willing to sell DCR at right now and the market depth is how much at each price. If you buy at the ask price your order will go through immediately, but if you order too much or if you want to get a lower price, the order could take awhile. ETC has good liquidity on most exchanges so doing large orders usually shouldn’t be an issue.
    buy ethereum classic
    Step 4: Generate Web Wallet for ETC Ethereum classic has nice web wallets that let you get around having to sync the entire chain yourself. A nice one to use is This. Click generate wallet on the far left, enter a password and create a new wallet.
    buy ethereum classic
    Step 5: Save all the wallet data somewhere safe You will be given a whole bunch of information to save. Download the Keystore/JSON file which is encrypted and make a paper backup of the wallet by printing it out. It should look something like this: (don’t worry this address has no funds)
    buy ethereum classic
    Step 6: Get Wallet Address and Withdraw from Exchange Use the wallet address that you got in field #2 to withdraw from the exchange.
    buy ethereum classic
    Step 7: View Balance in Web Wallet Enter your private key or upload file and enter password and you can view your password!
    buy ethereum classic
    Congratulations you are now the proud owner of ETC!

    How To Earn Ethereum Classic?

    You can earn ETC by the following:
    • Playing Games
    • Gambling (not recommended)
    • Website Freebies
    • Buying / Purchasing
    • Trading

    Where To Spend Ethereum Classic?

    As featured above, dealers tolerating Ethereum have inbuilt procedures which give all of you the data you have to finish your exchange. A beneficiary Ethereum deliver is appeared to you, alongside the sum required. You should then send this sum showed by the trader from your wallet to that address. A few vendors additionally give QR codes to use with portable installments. A similar procedure applies when acquiring a gift voucher, ware or subsidizing a gaming account, for instance. When making an installment face to face, you will in all likelihood be utilizing a cell phone, in which case a sweep of a QR code is that is required with a specific end goal to initiate the installment procedure from your wallet. It is likewise conceivable to send Ethereum exchanges through SMS and even email, however these techniques have so far not made advances into face to face dealer exchange settings. How would you guarantee your wallet is accurately set up on your cell phone to make speedy and productive installments? Your wallet supplier will have every one of the points of interest.

    What Is Ethereum Classic Mining?

    Mining on Windows/Linux with Nvidea/AMD

    Ever wondered if Ethereum Classic (ETC) is worth mining ? Someone asked about ETC so here it is a quick tutorial on how to mine Ethereum Classic (ETC) on Windows or Linux using AMD or nVidia GPUs. According to whattomine , Ethereum Classic (ETC) is on second position as mining recommendation (for a rig with 6x RX 470 4gb GPUs), followed by Monero etc.. What are the profits with this hashing speed/configuration ?
    mining etc
    mining etc
    Pretty good right ? The difference is not that big but i think that it worth mining a few ETCs, when the POS hits maybe the price will have a nice number. As for this tutorial we will be using:
    • 5x Asus Strix OC AMD Radeon R7 370 4GB GPUs, rig components
    • AMD Drivers 16.9.2
    • MSI Afterburner or Wattman
    • Kraken.com wallet key
    • Claymore’s Dual Ethereum AMD+NVIDIA GPU Miner v7.4 (Windows/Linux) developer fee is 1%
    • Pool etc.ethermine.org 1% fee
    If you are looking to build your first rig or a new one, here is the best hardware you can get!
    • MoBo – $200 ASRock H97 Anniversary or $160 ASRock H81 PRO BTC
    • RAM – $65 HyperX 8GB
    • CPU – $75 Intel G3258 4 Pentium 3.20
    • SSD – $55 Kingston 120GB SSDNow
    • Risers – $50 6-Pack PCI-E 16x to 1x Powered Riser
    • PSU – $235 EVGA 1200W 80 Plus Platinum
    • 6x GPUs- $1,200 Sapphire Nitro+ RX 470 4GB
    • Frame – $190 GPU Mining Rig Open Air Frame Case or do it yourself, tutorial here!
    Ethereum & Ethereum Classic hashing speed using 6x Sapphire Nitro+ RX 470 4GB can be up to 175Mh/s, with my current rig i get 67Mh/s only, using 5 GPUs. Make sure you buy the right GPUs for your rig, check above!
    mining etc

    LET’S GET STARTED TO MINE SOME ETHEREUM CLASSIC (ETC)

    1. Create an account with Kraken.com if you don’t have one
    • go to “Funding“
    • on menu from left side click on “Ether Classic (ETC)“
    • click “Generate New Address” and wait few seconds, if nothing happens just refresh the page.
    • copy the wallet key
    mining etc
    2A. Mining with Claymore’s miner, 1% dev fee
    • download Claymore’s miner v7.4 https://mega.nz/#F!O4YA2JgD!n2b4iSHQDruEsYUvTQP5_w
    • once downloaded extract its contents
    • inside the folder create a new text document and paste the following code:
    • setx GPU_FORCE_64BIT_PTR 0 setx GPU_MAX_HEAP_SIZE 100
      setx GPU_USE_SYNC_OBJECTS 1
      setx GPU_MAX_ALLOC_PERCENT 100
      setx GPU_SINGLE_ALLOC_PERCENT 100
      EthDcrMiner64.exe -epool eu1-etc.ethermine.org:4444 -ewal
      WALLET_KEY.WORKER_NAME -epsw x
    • change pool location that suits you the most Europe: eu1-etc.ethermine.org:4444 or eu1-etc.ethermine.org:14444
      US: us1-etc.ethermine.org:4444 or us1-etc.ethermine.org:14444
    • save the file and name it as you desire but change the .txt extenstion to .bat (i named it etc.bat) and don’t forget to add wallet key and worker name
    • start the .bat file and wait for the miner to start
    mining etc
    mining etc
    mining etc
    mining etc
    2B. Mining with Genoils Miner, no dev fee
    • download the miner ethminer-0.9.41-genoil-1.0.8.zip
      https://github.com/Genoil/cpp-ethereum/tree/master/releases
    • extract the files from archive
    • inside the folder create a new text document and paste the following code
    • setx GPU_FORCE_64BIT_PTR 0
      setx GPU_MAX_HEAP_SIZE 100
      setx GPU_USE_SYNC_OBJECTS 1
      setx GPU_MAX_ALLOC_PERCENT 100
      setx GPU_SINGLE_ALLOC_PERCENT 100
      ethminer.exe –farm-recheck 200 -G -S eu1-etc.ethermine.org:4444 -O Your_Ethereum_Address.RigName
    • add your wallet key address and change rig name
    • change pool location that suits you the most Europe: eu1-etc.ethermine.org:4444 or eu1-etc.ethermine.org:14444
      US: us1-etc.ethermine.org:4444 or us1-etc.ethermine.org:14444
    • save the text file as .bat file (start.bat), double click to start the miner
    • wait for the DAG file to complete and once done it will begin to mine
    mining etc
    mining etc
    mining etc
    mining etc
    2. Mining progress and being paid
    • go to https://etc.ethermine.org/ and on top right enter you wallet address, click check status
    • on the dashboard you can find your hashing speed , unpaid balance , workers and some graphs
    • click on Settings tab and add your details: email, how often would you like to be paid (recommend 1ETC to avoid higher transfer fees) and the IP if your rig.
    mining etc
    mining etc
    3. Overclock your video cards
    • Open Radeon Settings software and go to “Gaming”, then click on “Wattman“
    • If you don’t have any button with”Wattman“, click “Global Settings“
    • You will see there all GPUs, to overclock the cards go to each card where says “Global OverDrive“
    • Or you can do the same thing with MSI Afterburner.

    Latest Ethereum Classic News

    news etc
    Ethereum Classic (ETC) has shot up almost 25 percent in minutes as rumors begin spreading of South Korean trading interest. Having dropped to multi-month lows, ETC suddenly reversed Wednesday, climbing from $14 to almost $18 within an hour. Sources on Twitter began suspecting the Ethereum original chain could be benefiting from trader efforts in South Korea.
Written by WeUseCoins on .