Ethereum Classic is a decentralized platform that runs smart contracts, and applications that run exactly as programmed without any possibility of fraud or third-party interference. Ethereum Classic is a continuation of the original Ethereum blockchain – the classic version preserving untampered history; free from external interference and subjective tampering with transactions. Ethereum Classic is a public, open-source, blockchain-based distributed computing platform featuring smart contract (scripting) functionality. It provides a decentralized Turing-complete virtual machine, the Ethereum Virtual Machine (EVM), which can execute scripts using an international network of public nodes.
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How to buy Ethereum Classic?
There are a few ways to buy Ethereum Classic. The most common way is to buy Ethereum Classic with Bitcoin. There are a few exchanges that allow you to do this, and the process is relatively simple. Another way to buy Ethereum Classic is with an Ethereum Classic exchange. These exchanges allow you to trade Ethereum Classic for other cryptocurrencies, or for fiat currencies like USD or EUR. Finally, you can also buy Ethereum Classic directly from people who have Ethereum Classic. This is known as peer-to-peer trading, and there are a few platforms that facilitate this. No matter which method you choose, make sure you do your research and only buy Ethereum Classic from reputable sources.
How to stake Ethereum Classic?
Ethereum Classic does not support staking, it uses the Proof of Work consensus mechanism. Ethereum Classic miners are rewarded based on their share of work done, rather than the number of Ethereum Classic coins they own. Ethereum Classic miners are rewarded with a block reward, which is currently 5 Ethereum Classic coins. In addition to the block reward, Ethereum Classic miners also earn a transaction fee for each transaction they include in a block. Ethereum Classic miners can choose which transactions to include in a block, and they are incentivized to include transactions with the highest transaction fees.