Ethereum Classic

Ethereum Classic (ETC) is a proof-of-work smart contract platform and layer-1 blockchain that preserves the original Ethereum chain. Ranked 65th by market capitalisation, ETC emerged in 2016 when part of the community chose to continue the unaltered ledger rather than reverse the effects of the DAO hack. It supports smart contracts and decentralised applications while maintaining a philosophy of immutability and code-is-law.

What is Ethereum Classic?

Ethereum Classic is the continuation of the pre-fork Ethereum blockchain, launched in 2015. When the main Ethereum community hard-forked to undo a major exploit, supporters of an immutable ledger kept the original chain running as Ethereum Classic. It offers a familiar smart-contract environment but keeps proof-of-work mining and a fixed monetary policy as core principles.

How does Ethereum Classic work?

ETC secures its network with proof-of-work consensus using the Ethash algorithm, meaning miners expend computational power to validate blocks and earn rewards. Notably, ETC retained proof-of-work even after Ethereum transitioned to proof-of-stake, making it one of the more prominent PoW smart-contract chains. It remains compatible with the Ethereum Virtual Machine, so many Ethereum-style contracts and tools can be adapted to it.

Ethereum Classic tokenomics and supply

Unlike Ethereum, ETC has a capped, disinflationary monetary policy with a maximum supply of about 210.7 million ETC. Circulating supply is roughly 156.6 million, matching the reported total, and block rewards are periodically reduced. This hard cap gives ETC a fixed-supply narrative closer to Bitcoin than to Ethereum.

• Maximum supply of about 210.7 million ETC
• Circulating supply around 156.6 million
• Proof-of-work Ethash mining with periodic reward reductions
• All-time high near $167.09; all-time low around $0.615

What is Ethereum Classic used for?

As a smart contract platform, ETC can host decentralised applications, token issuance, and contracts using EVM-compatible tooling. In practice it is often valued as a proof-of-work store-of-value and settlement layer that appeals to those who prioritise immutability and mining-based security. It is included in indices such as the Coinbase 50, reflecting its established position.

Where to buy Ethereum Classic

ETC is a long-standing asset available on virtually all major exchanges. To compare trading fees, liquidity, and security, consult our best crypto exchanges ranking. For self-custody, our best crypto wallets guide covers hardware and software wallets that support ETC and EVM-compatible assets.

Is Ethereum Classic a good investment?

ETC benefits from a fixed supply and a clear identity as the original PoW Ethereum, but it faces competition from larger smart-contract platforms and has historically been exposed to 51% attack concerns given its hash rate. Its price is volatile and cyclical. Weigh these trade-offs carefully and do your own research; nothing here is financial advice.