In the ever-evolving world of cryptocurrencies, Ethereum Classic, often referred to as ETC, is a name that has garnered significant attention. In this blog, we can see the origin, features, and how to buy ETC in the Top Cryptocurrency Exchange In India.
What is Ethereum Classic (ETC)?
Ethereum classic launched as a blockchain platform in July 2016. It was emerging as a contentious hard fork from the original Ethereum network. The fork prompted by a hack that stole millions of Ether (ETH) from a decentralized application known as “The DAO.” The decision to hard fork and reverse the hack had not universally accepted, leading to the creation of Ethereum Classic.
ETC Price Today
How to buy/sell ETC in India?
Create an Account on Bitcoiva
There are two ways to create an account on Bitcoiva, the Best Platform To Buy Cryptocurrency In India.
- Register using the
- Bitcoiva App
Update your Identities and verify your KYC; it may take 2 to 3 days. Your INR deposits can be made using a Bank transfer.
Deposit Fiat Currency In Your Bitcoiva Wallet
Before you buy ETC on Bitcoiva, ensure that you have a minimum balance of INR 100 in your Bitcoiva wallet.
Buy ETC Via Bitcoiva
Login with your registered email with the Bitcoiva app or website
Click on the Menu icon and select Exchange.
Enter the INR amount you would like to buy
The quantity of ETC/INR that you can purchase will be displayed.
Check all the order details.
Click on Place Buy Order
You can receive a message that your order has been placed successfully.
How to convert ETC to INR?
Convert ETC to INR
Key Features of Ethereum Classic
1. Immutable Ledger: One of the core principles of Ethereum Classic is immutability. Altering or modifying the ETC transactions had not possible after recording.
2. Decentralization: ETC maintains a decentralized network similar to its predecessor, Ethereum. It operates on a global network of nodes, resisting censorship and central control.
3. Smart Contracts: Like Ethereum, ETC supports smart contracts. These self-executing contracts have the potential to automate various processes without the need for intermediaries.
Use Cases of Ethereum Classic
- Decentralized Applications (DApps)
Ethereum Classic provides a platform for the development and deployment of decentralized applications. DApp developers can harness ETC’s innovative contract capabilities to create various applications, from financial services to gaming and supply chain management.
2. Token Creation
ETC allows users to create their tokens on the blockchain. This feature has given rise to various tokens, including utility tokens, security tokens, and more. These tokens represent assets, voting rights, or access to specific services within a decentralized ecosystem.
3. IoT and Supply Chain
ETC blockchain adopts industries as Internet of Things (IoT) and supply chain management. It ensures transparency, traceability, and security of information.
4. Decentralized Finance (DeFi)
Ethereum Classic occupies a place in the growing ecosystem of decentralized finance (DeFi). It offers opportunities for users to engage in lending, borrowing, yield farming, and trading various assets in a decentralized manner.
5. Digital Identity
ETC has been utilized to build secure and tamper-proof digital identity systems. This has applications in identity verification, access control, and more, enhancing privacy and security.
Ethereum Classic, born out of a controversial fork, has evolved into a robust blockchain platform with unique features and use cases. Its commitment to immutability and decentralization has attracted developers and users, making it an integral part of the cryptocurrency landscape. As the blockchain space continues to innovate, Ethereum Classic remains an intriguing option for those seeking a secure and versatile platform for various applications.
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