What is the use of ETC coins? The concept, value and practical application of ETC currency

Use of ETC Coin

Concept: Ethereum Classic (ETC)

ETC Coin It is a fork of the cryptocurrency Ethereum, resulting from the Ethereum network fork in 2016. The cause of the fork was the handling of the DAO hack, with ETC coin supporters opposing rollback transactions and insisting on the immutability of the blockchain.

Value:

• Blockchain-based network: ETC coin supports blockchain-based decentralized applications ( dApps) and smart contracts.
• Proof-of-stake consensus mechanism: ETC uses a PoS consensus mechanism that allows currency holders to verify transactions and obtain rewards by staking leurs tokens.
• Scarcity: The supply of ETC coins is limited, with a total supply of 210 million coins.

Practical applications:

ETC coins have practical applications in the following areas:

• dApp development: Developers can build and deploy distributed applications using the ETC blockchain.
• Smart Contracts: ETC’s smart contract functionality allows the creation of decentralized programs that automatically execute agreements.
• Payment: ETC coins can be used to make payments online and in stores.
• Store of Value: Due to its limited supply and the security of the blockchain, ETC coins are viewed by some as a store of value.
• Staking: Token holders can earn rewards by staking ETC tokens, support network security and verify transactions.
• Mining: ETC coins can be obtained through GPU or ASIC mining.

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