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In the article below, we discussed how to buy and sell Ethereum Classic. Ethereum Classic is a digital currency from the category of altcoins, which is represented by the symbol ETC. Ethereum Classic is a hard fork of Ethereum. To get to know more about Ethereum classic and its mining, stay with us on Pooyan Music site.
One of the main goals of Ethereum Classic is its function as a smart contract with the ability to host and support decentralized applications. Ever since Ethereum Classic was created, it has sought to differentiate itself from Ethereum.
The role of the Ethereum Classic token is to maintain and create the ETC network. Keeping the ETC token allows users to make transactions in this network, use smart contracts, participate in voting and interact with decentralized software. Vitalik Buterin and Gavin are among the developers of Ethereum Classic.
The most important goal of Ethereum Classic is to protect the Ethereum blockchain from hacking by decentralized organizations. Unlike Ethereum, Ethereum Classic has no decision to change its Proof of Stake mining algorithm.
The maximum supply for Ethereum Classic is 210,700,000, which is almost ten times that of Bitcoin. Its mining algorithm is the same as Bitcoin and its proof-of-work mechanism. Different programs can be implemented in Ethereum and Ethereum Classic.
Ethereum Classic’s consensus mechanism is proof-of-work, which means it requires mining to process transactions. Miners need a wallet that supports this currency to receive their mining rewards.
Ethereum Classic is an easy currency to mine. Since the difficulty of this network is less than that of Ethereum, mining can be done with GPU mining devices. Miners can decide whether they want to mine independently or join a mining pool. Users who choose the mining pool give up a very small percentage of the mining profit, approximately one percent. But joining a mining pool has one advantage, which is combining hash power with other miners. This action causes the adjuster to pay more.
All you need to know about Ethereum Classic
Buying, selling and trading Ethereum Classic is very difficult for users in Iran due to the very severe restrictions of large exchanges. To place an order, you must first find an exchange that supports this currency. If you don’t have a user account in the desired exchange, you need to register and authenticate there. After logging in to the user account, choose the option of buying currency or selling currency. Choose Ethereum Classic cryptocurrency.
Ethereum Classic is an open source project. The main goal of this network is to provide a decentralized blockchain network that is fully controlled by the user.
