Overview of Ethereum Classic (ETC)
Ethereum Classic (ETC) emerged as a hard fork of Ethereum (ETH) in July 2016 following the DAO hack incident. It operates as a smart contract network supporting decentralized applications (DApps), with ETC serving as its native cryptocurrency. Unlike ETH, ETC maintains the original blockchain's integrity by rejecting chain reversals—a philosophical stance that defines its identity.
Key Distinctions from Ethereum
- Immutable Blockchain: ETC adheres to "code is law" principles, preserving transaction history without interventions.
- Technical Roadmap: While ETH transitions to Proof-of-Stake, ETC remains committed to Proof-of-Work mining indefinitely.
- Supply Cap: Maximum supply fixed at 210,700,000 ETC (vs. ETH's uncapped supply).
Mining Ethereum Classic: Essential Details
| Metric | Value |
|---|---|
| Coin Algorithm | Ethash |
| Network Hashrate | ~15 TH/s (varies) |
| Mining Hardware | ASICs or high-end GPUs |
👉 Best ASIC miners for Ethereum Classic
Profitability Factors
- Electricity Costs: Below $0.04/kWh recommended for ASICs like Jasminer X2500 (0.897 MH/s).
- Hardware Efficiency: Nvidia CMP HX170 (0.312 MH/s) suits lower budgets.
Founders and Governance
Ethereum Classic originated from Ethereum's core team—Vitalik Buterin and Gavin Wood. It operates as a decentralized "do-ocracy":
- No official team; open global developer community.
- Governance via on-chain voting for protocol upgrades.
How Ethereum Classic Works
- Smart Contracts: Paid in ETC "gas" fees (similar to ETH).
- Consensus Mechanism: Proof-of-Work secures the network via miners solving cryptographic puzzles.
- Security Challenges: Historically vulnerable to 51% attacks due to lower hashpower.
Mining Process
- Hardware: ASICs dominate due to high difficulty.
- Pools: Join mining pools for consistent rewards.
- Rewards: Block subsidy + transaction fees.
FAQs
Is Ethereum Classic mining profitable in 2025?
Yes, if:
- Electricity costs < $0.04/kWh (ASICs) or < $0.12/kWh (GPUs).
- Using Jasminer X2500 or equivalent hardware.
What’s the minimum ETC purchase amount?
Exchanges allow buys as small as 0.00000001 ETC.
👉 Where to trade Ethereum Classic
Are there ETC transaction fees?
- Trading: Zero fees, but spreads apply.
- Withdrawals: Fixed 0.005 ETC fee.
Why choose ETC over ETH?
- Philosophy: Immutability and decentralization.
- Mining Continuity: Long-term PoW viability post-ETH 2.0.