As the name suggests, Ethereum Classic is a hard fork of the first smart contract and DApp blockchain, Ethereum. Ethereum Classic came into being after the Ethereum network participants disagreed over a transaction reversal after a major hack in July 2016. Similar to Ethereum, Ethereum Classic is also a blockchain network that supports smart contracts and enables the development and deployment of decentralized applications. ETC is the native cryptocurrency of the Ethereum Classic blockchain, and it is used to pay fees for developing and deploying smart contracts and DApps within the ecosystem. The price of ETC is $6.36 as of the time of writing, and its market capitalization sits just above $740.1 million. The total supply of ETC is capped at 210.7 million coins, out of which 116.3 million are already in circulation.
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