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ETC/SAR - Ethereum Classic Saudi Riyal

Synthetic
Symbol
Exchange
Currency
ETC/SAR·Synthetic·SAR
ETC/SAR·Investing.com·SAR
Currency in
SAR
ETC/SAR·Saudi Riyal
ETC/KRW·Korean Won
ETC/IDR·Indonesian Rupiah
ETC/INR·Indian Rupee
ETC/CNY·Chinese Yuan
ETC/HKD·Hong Kong Dollar
ETC/MYR·Malaysian Ringgit
ETC/VND·Vietnamese Dong
ETC/JPY·Japanese Yen
ETC/ZAR·South African Rand
ETC/BRL·Brazil Real
ETC/EUR·Euro
ETC/PLN·Polish Zloty
ETC/TRY·Turkish Lira
ETC/RUB·Russian Ruble
ETC/SEK·Swedish Krona
ETC/GBP·British Pound Sterling
ETC/MXN·Mexican Peso
ETC/CAD·Canadian Dollar
ETC/USD·US Dollar
ETC/AUD·Australian Dollar
ETC/ILS·Israeli Shekel
66.898
+0.938(+1.42%)
Real-time Data·
Trading near 52-week Low
Day's Range
47.99278.788
52 wk Range
47.992150.055
Bid/Ask
66.879 / 66.917
Vol (24H)
97.15M
Market Cap
2.73B
Day's Range
47.992-78.788
52 wk Range
47.992-150.055
Max Supply
ETC210.70M
Circulating Supply
ETC152.65M
Rank
38
Type:Currency
Group:Minor
Base:Ethereum Classic
Second:Saudi Riyal

Technical Analysis

Summary
Strong Sell
Sell
Neutral
Buy
Strong Buy
Strong Buy
Technical Indicators
Strong Buy
Moving Averages
Strong Buy
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FAQ

What’s the Difference Between Ethereum and Ethereum Classic?

The Ethereum network and Ethereum Classic protocol operate more or less on the same mining algorithm, and they also perform similar functions in the blockchain ecosystem. However, the major difference lies in the fact that in 2016, Ethereum (ETH) network rolled back a series of transactions to cover the loss of investor funds as the result of a hack, while the Ethereum Classic (ETC) did not.

Additionally, Ethereum has evolved to use Proof of Stake (PoS), while Ethereum Classic continues with Proof of Work (PoW). Ethereum is now widely adopted for decentralised applications (dApps) and smart contracts, whereas Ethereum Classic focuses on preserving the original Ethereum blockchain structure.

What Is Ethereum Classic? (ETC)

Ethereum Classic is a decentralised, smart contract protocol that enables the building of dApps or DAOs on its network. Serving as a base layer protocol, Ethereum Classic is useful in the development of DeFi and NFTs.

Ethereum Classic is a fork of the popular Ethereum network and is considered the unbroken historical record of the first smart contracts network. The split within the Ethereum network happened in 2016 due to ideological and technical differences in the Ethereum community and the DAO hack that led to the loss of over $70 million.

Discover more about what crypto is and how it works in our Investing Academy.

How To Mine Ethereum Classic (ETC)

To mine Ethereum Classic (ETC), which depend on a Proof-of-Work (PoW) consensus algorithm for validating transactions on its blockchain, you'll need a powerful GPU or an ASIC miner, with at least 4GB of VRAM. First, choose the appropriate mining software, such as GMiner, NBMiner, or PhoenixMiner, which allows your hardware to solve computational problems on the ETC network. Joining a mining pool like Ethermine or 2Miners is recommended, as it increases your chances of earning rewards by combining resources with other miners.

After selecting your hardware, software, and pool, configure the mining software with the pool's details and your wallet address, then start mining. Ensure that you have a secure wallet, such as Trust Wallet or a hardware wallet like Ledger, to store your ETC. Mining requires significant computational power and electricity, so it's important to consider the costs before starting.

How To Store Ethereum Classic

Like several crypto assets, Ethereum Classic is mainly stored on digital wallets. You can choose to own a private wallet to store Ethereum Classic and any other virtual asset that you decide fits your portfolio. However, several exchanges and brokers offer crypto wallet services, and you can choose to use this option to forestall the eventuality of losing your private keys.

Where To Buy Ethereum Classic

Ethereum Classic is readily available in several top Bitcoin exchanges. Popular choices are Binance, Coinbase, FTX, Huobi Global, and Kraken. Meanwhile, many cryptocurrency brokers also support Ethereum Classic; a popular choice is social trading leader eToro, which supports Ethereum Classic and several other top-ranking virtual currencies.

How Many Ethereum Classic Coins Are There?

There are approximately 149 million Ethereum Classic (ETC) coins in circulation (as of November 2024). Ethereum Classic has a maximum supply cap of 210,700,000 ETC, meaning no more than this amount will ever be created. The fixed supply model is similar to Bitcoin, which gives ETC scarcity over time as more coins are mined and the total supply approaches the cap.

How To Buy Ethereum Classic

To buy Ethereum Classic (ETC), start by choosing a reputable cryptocurrency exchange or brokers that support it. Create an account, complete identity verification, and deposit funds using a linked bank account, debit/credit card, or cryptocurrency transfer. Once your account is funded, you can place an order to buy ETC at the current market price or set a limit order for a specific price.

After purchasing, you can store your ETC on the exchange or transfer it to a personal wallet for added security. For long-term storage, consider using a secure software or hardware wallet that supports Ethereum Classic.

What Is Ethereum Classic Used For?

While Ethereum Classic shares the same foundational technology as Ethereum, it remains committed to the principle of blockchain immutability, meaning it does not alter the blockchain’s history, even in the case of hacks or errors.

Ethereum Classic (ETC) is used in decentralised finance (DeFi) projects, token creation, and for transferring value. However, its development and adoption are generally smaller compared to Ethereum (ETH), which has a larger user base and more dApp development activity.

When Did Ethereum Classis Fork?

Ethereum Classic was created as a result of a hard fork in July 2016. The fork occurred following a major hack of "The DAO," a decentralised autonomous organisation built on Ethereum. The hack led to the loss of millions of dollars worth of Ether (ETH) due to a vulnerability in The DAO’s code.

To address the situation, the Ethereum community voted to implement a hard fork, which effectively reversed the hack and returned the stolen funds. However, a portion of the community opposed this decision on principle, believing that the blockchain should remain immutable (unchangeable). Those who disagreed continued using the original Ethereum blockchain, which became known as Ethereum Classic (ETC), while the modified blockchain retained the Ethereum (ETH) name. Both networks have operated independently since the split.

When Was Ethereum Classic Created?

Ethereum Classic was created in 2016 following a split within the Ethereum development community over the team’s handling of the decentralised autonomous organisation (DAO) hack.

The popular Ethereum network chose to roll back those transactions in a bid to recover investor funds while the others kicked against the idea, noting that this could become the norm for the coming years. Holding onto the principle of ‘Code is Law,’ the Ethereum Classic protocol was formed to preserve the history of the first smart contracts blockchain.
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