Disclaimer: The information provided in this report is based on data gathered on August 10, 2024. The cryptocurrency market is highly volatile, and prices, market capitalization, and other metrics can fluctuate significantly.

Ethereum Classic (ETC) Research Report

Project Introduction and Brief Summary of its Solutions and/or Products

Ethereum Classic (ETC) is an open-source, decentralized blockchain platform that runs smart contracts. It is a hard fork of the original Ethereum blockchain, maintaining the original, unaltered vision of Ethereum. It adheres to the philosophy of “Code is Law,” emphasizing immutability and censorship resistance. Ethereum Classic offers a platform for decentralized applications (dApps) and smart contracts, similar to Ethereum, but with a different community and development focus.

Project Release Date & Token Release Date

• Ethereum Classic was created on July 20, 2016, as a result of the hard fork.
• The ETC token was launched alongside the network in 2016.

Market Capitalization

• $1,518,001,895 (as of August 10, 2024)

Current Price

• $16.68 (as of August 10, 2024)

Exchanges where the Cryptocurrency is Currently Listed

• Binance
• Coinbase
• Kraken
• KuCoin
• Bitfinex
• And many other major and minor exchanges

Competitors

• Ethereum (ETH)
• Cardano (ADA)
• Solana (SOL)
• Avalanche (AVAX)
• Polkadot (DOT)

Use Cases

• Decentralized Applications (dApps): Ethereum Classic can be used to build and deploy dApps across various industries, including finance, gaming, supply chain management, and more.
• Smart Contracts: ETC enables the creation and execution of self-executing contracts with the terms of the agreement directly written into lines of code.
• Decentralized Finance (DeFi): ETC can be used to create DeFi applications like decentralized exchanges, lending platforms, and stablecoins.
• Non-Fungible Tokens (NFTs): ETC supports the creation and trading of NFTs, representing ownership of unique digital assets.

Technology

• Proof of Work (PoW) Consensus: Ethereum Classic currently uses the PoW consensus mechanism, which relies on miners to validate transactions and add blocks to the blockchain. However, there are discussions and efforts within the community to explore alternative consensus mechanisms like Proof of Stake (PoS) in the future.
• EVM Compatibility: ETC is fully compatible with the Ethereum Virtual Machine (EVM), allowing developers to easily port their existing Ethereum dApps and smart contracts to the Ethereum Classic network.
• Solidity Programming Language: Smart contracts on Ethereum Classic are primarily written in Solidity, a high-level programming language specifically designed for smart contract development.

Smart Contracts and Audits

• Smart contracts are a core feature of Ethereum Classic, enabling the creation of self-executing contracts with the terms of the agreement directly written into lines of code.
• Several auditing firms and security experts provide smart contract audit services for Ethereum Classic projects. It is important to check individual projects for specific audit reports and security assessments.

Investors or Partners Involved

• Ethereum Classic Labs: An incubator and accelerator focused on supporting the development of the Ethereum Classic ecosystem.
• Grayscale Investments: Offers an Ethereum Classic Trust, providing institutional investors with exposure to ETC.
• Digital Finance Group (DFG): A global blockchain and cryptocurrency investment firm that has invested in Ethereum Classic.

Amount of Money Raised During the Presale Stage/ICO/Seed Rounds

• Ethereum Classic did not have a presale, ICO, or seed round as it was created through a hard fork of the Ethereum blockchain.

Token Distribution

• Total Supply: 210,700,000 ETC (as of August 10, 2024)
• Circulating Supply: 181,048,983 ETC (as of August 10, 2024)
• The token distribution was determined at the time of the hard fork, with ETH holders receiving an equivalent amount of ETC.

Detailed Token Economics and Use Cases, Including Detailed Breakdown of Token Vesting Schedule

• ETC is the native cryptocurrency of the Ethereum Classic network and has several use cases:
  • Transaction Fees: ETC is used to pay for transaction fees on the network, incentivizing miners to validate transactions and secure the blockchain.
  • Smart Contract Execution: ETC is required to execute smart contracts and interact with dApps on the Ethereum Classic platform.
  • Store of Value: Some users hold ETC as a long-term investment, believing in the potential of the Ethereum Classic network and its underlying technology.
• There is no token vesting schedule for ETC as it was distributed at the time of the hard fork.

Roadmap, Highlight the Milestones That Have Been Accomplished and Those That Are Yet to Be Done

• Ethereum Classic’s roadmap is primarily driven by its community and development teams. Some of the key milestones include:
  • Atlantis Hard Fork (September 2019): Introduced several improvements and optimizations to the network, including performance enhancements and compatibility with Ethereum’s Constantinople hard fork.
  • Agharta Hard Fork (January 2020): Further improved compatibility with Ethereum by implementing the Istanbul hard fork changes.
  • Phoenix Hard Fork (June 2020): Implemented the Berlin hard fork changes, bringing Ethereum Classic in line with Ethereum’s latest upgrades.
  • Magneto Hard Fork (July 2021): Implemented the London hard fork changes, including EIP-1559, which introduced a new fee market mechanism.
  • Ongoing Development: The Ethereum Classic community continues to work on various improvements, including exploring alternative consensus mechanisms like Proof of Stake, enhancing scalability, and promoting adoption.

Team Members List and Brief Description

• Ethereum Classic is an open-source project with a decentralized community of developers and contributors. There is no single, centralized team.
• Some of the key organizations and individuals contributing to Ethereum Classic’s development include:
  • Ethereum Classic Labs
  • ETC Cooperative
  • IOHK
  • Several independent developers and community members

References

• Ethereum Classic Website: https://ethereumclassic.org/
• Ethereum Classic on GitHub: https://github.com/ethereumclassic

Note: This report provides a comprehensive overview of Ethereum Classic based on the information available as of August 10, 2024. It is essential to conduct your own research and due diligence before making any investment decisions related to cryptocurrencies.