• Development status Active Written in,,, Clients available for,,, x86, ARM Multiple Website Ethereum Classic is an, public, -based platform featuring (scripting) functionality. It provides a decentralized, the Ethereum Virtual Machine (EVM), which can execute scripts using an international network of public nodes. Ethereum Classic also provides a value token called 'classic ether', which can be transferred between participants, stored in a and is used to compensate participant nodes for computations performed. The classic ether token is traded on cryptocurrency exchanges under the ticker symbol ETC. Gas, an internal transaction pricing mechanism, is used to prevent on the network and allocate resources proportionally to the incentive offered by the request.

The Ethereum platform has been forked into two versions: 'Ethereum Classic' (ETC) and 'Ethereum' (ETH). Prior to the fork, the token had been called Ethereum.

After the fork, the new tokens kept the name Ethereum (ETH), and the old tokens were renamed Ethereum Classic (ETC). Ethereum Classic appeared as a result of disagreement with the regarding Hard Fork. It united members of the Ethereum community who rejected the hard fork on philosophical grounds. Users that owned ETH before the DAO hard fork (block 1920000 ) own an equal amount of ETC after the fork. Ethereum Classic passed a technical hard fork to adjust the internal prices for various opcodes of the Ethereum Virtual Machine (EVM) on October 25, 2016, similar to the hard fork committed by a week previously. The purpose of the hard fork was a more rational distribution of payments for resource-intensive calculations, which led to the elimination of the favorable conditions for attacks that were previously conducted on ETH and ETC.

Find out what your expected ETC and USD return is depending on your hash rate, power consumption and electricity cost. Find out if it's profitable to mine Ethereum Classic. Do you think you've got what it takes to join the tough world of cryptocurrency mining? Upcoming Dogecoin DOGE Ico.

A hard fork held in the beginning of 2017 successfully delayed the 'bomb complexity' that was added to the Ethereum code in September 2015 with a view of exponentially increasing the complexity of and the process of calculation of new network units. In late 2017, a hard fork occurred which changed the monetary policy with unlimited emissions to a system similar to. Contents • • • • History [ ] In May 2016, a fund called built on raised around $168 million, with the intention of investing in projects using. In the same month a paper was released detailing security vulnerabilities with The DAO that could allow ether to be stolen.

In June, 3.6 million Ether (approximately $50 million USD) was taken from accounts in The DAO and moved to another account without the owners' consent, exploiting one of the vulnerabilities that had been raised in May. Members of The DAO and the Ethereum community debated what actions, if any, should occur to resolve the situation. A vote occurred and in July 2016 it was decided to implement a hard fork in the Ethereum code and to move the Ether taken in the exploit to a new smart contract through which it would be restored to the owners from whom it had been taken. Ethereum Classic came into existence when some members of the Ethereum community rejected the hard fork on the grounds of 'immutability', the principle that the blockchain cannot be changed, and decided to keep using the unforked version of Ethereum. Ethereum Classic underwent a technical hard fork to adjust the internal pricing for running various on the Ethereum Virtual Machine (EVM) on 25 October 2016, similar to the hard fork the ETH chain did a week earlier.

The goal was to more rationally price various and commands to reduce the incentive for spammers who had conducted a month-long attack on the Ethereum Classic network. A hard fork that occurred early 2017 successfully delayed the so-called 'difficulty bomb', originally added to Ethereum's code in September 2015 in order to exponentially increase the difficulty of mining, or the competitive process by which new transaction blocks are added to the network. The people who continued with Ethereum Classic advocate for blockchain immutability, and the concept that 'code is law' against the pro-fork side (Ethereum) which largely argued for extra-protocol intentionality,, and conflict resolution. Various critics of Ethereum Classic have denounced it as a scam and a potential theft of, with similar controversial remarks being made on behalf of the opposing camp. Ethereum Classic has retained some users of Ethereum and has also attracted others from the wider crypto-community who reject contentious forks on ideological grounds. The project, however, is not officially supported by the Ethereum Foundation.

On June 29, 2017 the Ethereum Classic Twitter account made a public statement indicating reason to believe that the Classic Ether Wallet Website had been compromised. Information security news organization Threatpost later reported that the compromise occurred due to a social engineering attack against the CEW websites domain registrar 1&1. The Ethereum Classic Twitter account confirmed the details released via Threatpost.

The Ethereum Classic team worked with CloudFlare, a company specializing in internet security services, to place a warning on the compromised domain warning users of the phishing attack. The ClassicEtherWallet.com domain is now only a redirect to the Github Page Site of the wallet. Milestones [ ] Release Date Code name Milestones & Hard Forks July 30, 2015 Frontier The release of the Ethereum Genesis block. March 14, 2016 Homestead The 2nd major release of the Ethereum platform, which introduced EIP-2, EIP-7, and EIP-8. October 25, 2016 GasReprice First fork after being renamed 'Ethereum Classic'.

Repriced some operations to prevent DoS attacks affecting both Ethereum and Ethereum Classic networks. Introduced ECIP-1050. January 14, 2017 Die Hard Delayed the difficulty bomb which was originally intended to force the network to move from proof-of-work to proof-of-stake and added replay protection to prevent transactions on the Ethereum network being accepted on the Ethereum Classic chain. Introduced ECIP-1010 and EIP-155. December 11, 2017 Monetary policy change Change unlimited token emission to a fixed-cap similar to with a hard cap of around 210 Million. References [ ]. • Ehsani, Farzam (22 December 2016)..

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How do we start mining ETH or ETC with our own equipment at home today? Will you read this post because it shows how easy it is to get started mining with a small investment in equipment and the willingness to learn how to set everything up and explains what steps are needed to decide if investing in the time and equipment for mining? With the Ethereum price over $300 today and the Ethereum Classic price at $20, the opportunity to mine Ether is now extremely profitable! Even as Ethereum prepares to go to a Proof of Stake model at the end of 2017 or beginning of 2018 which will greatly reduce the possibility of making a profit mining, any mining rig built to mine Ethereum could easily be switched to start mining ETC or another coin after the switch with a huge potential to profit before!

In this post or the matching video on YouTube below, see an introduction to what research and purchases are necessary to begin. While I thought mining any cryptocurrency was too technical for me, I now see getting started on a small scale is relatively straightforward with scaling up possible with confirmation the initial system is working. The GREAT NEWS is that making a very basic and functional mining computer system can be done for less than $1,000! Once we verify it works, the motivation will come to scale up the system into one that easily can produce $200+ a day in profit with current Ethereum and ETC prices as explained in the YouTube video from today below along with in more detail in text below that. In summary, using a new or used Windows or Linux machine to begin just for mining seems ideal because this will be the only need and function of the computer. For a few hundred dollars, buying a new machine to just do mining is the most basic starting point.

Next, buying a small amount of graphics cards to get started is the next step to verify the mining setup is working and to get an idea of the costs to scale. While the idea of dropping $20,000 to make a mining setup that produces $13,000 a month seems like a big risk, how about starting out with $1,000 in graphics cards to produce $600 a month to verify everything works? After confirming the setup is working, then it is logical to slowly scale up by adding more graphics cards and machines steadily over time using the profits generated as proof that more is possible with more power.

While I would not start off spending much without any proof I could actually set it up correctly, after confirmation that I could indeed build a mining machine that worked, I would be motivated to build more. The real opportunity to earn much more than $200 a day is to learn how to build mining rigs for Ethereum and other cryptocurrencies. Once we have the system down, we can just keep building more over time and then the money comes in on autopilot! This seems ideal compared to paying into a mining pool where another company is likely earning a significant share of my profits and maintains control over all of the machines. What are the steps to start mining Ethereum or ETC?

• Read an introduction to mining Ethereum at which seems to currently be the most profitable to mine today. • Read another post with a summary of all the steps. • Visit the daily profit estimate tool I used.

• Compare with ETC profit at or any other altcoin to see which is currently the most profitable to mine based on the price. After the ETH switch to PoS, mining another coin will be necessary but by then all the equipment should be paid for! • Learn about graphics cards because they are responsible for most hashing power. A list to get started is available at which will help with learning but then also show you that most of the ones already proven to work well for others are sold out! • With a few hours of research, the single best graphics card I found for the money which is actually in stock and has same day shipping for me is the EVGA GeForce GTX 1050 Ti SC GAMING, 4GB GDDR5, DX12 OSD Support (PXOC) Graphics Card 04G-P4-6253-KR on Amazon.

I chose this graphics card because all the others I looked at for a better value were sold out! The EVGA GeForce GTX 1050 Ti SC has SAME DAY delivery near me with an estimated hashing power for ETH at 12 MH which equals repayment in less than 2 months at the current price for Ether! If I was starting today this is what I would begin with by ordering 2 to 8 of these. I am not starting today because I have a trip coming up next week and am considering beginning Ethereum mining and/or being a Steemit Witness in late June 2017. • Using a dedicated Windows or Linux desktop PC is ideal for mining because it keeps the computer free from any other slowdowns and keeps existing devices free for normal use. Fortunately buying the machine to run all the GPUs on is a small part of the total expense. Read to get a good look at the parts required for the computer.

• Order the minimum initial parts to get started to build the desktop mining rig OR test this out on your existing computer if you have good enough graphics cards and want to start today! Note that in calculating the cost you will want to account for a maximum of 10 to 16 graphics cards per PC! The beauty of this system is once we get it built, we can modify it to mine whichever coins are the most profitable instead of relying on a third party to continue paying us out in whatever we started with at a fixed hashing power. Thank you for reading this and I hope you have a wonderful day! If this post was helpful, would you please vote it up because that helps me to continue writing more for you?

Love, Jerry Banfield. With friends invested on Genesis Mining as well, it seems to have great terms which are ideal for making an investment easily in a small amount of time. The limitations are the long time it takes to get a return compared to making our own mining rigs plus not really owning anything. For the greatest profits, making our own mining rigs seems to be a better investment not just of the money but for the valuable learning it takes to build on our own machines which then translates to skills good for earning high dollars per hour! In summary, if we have money and just want a good return, Genesis might be the best option.

If we have a bit more time and willingness to learn plus want the highest profits and have low enough electricity costs, DIY mining might be ideal! I have not used Genesis. Bitcoin talk is highly negative on Genesis, even though it is acknowledged as the most legitimate cloud mining operation, and it seems it's a lot less profitable than you think.

You have to contend both with price and difficulty, which is why they lock you into a 2 year contract. It sounds better than it is until you run the numbers, and find that in most cases, buying and holding seems to work better.

I would estimate using Genesis is going to cut your mining profit in half, relative to running it yourself. With friends invested on GenesisMining as well, it seems to have great terms which are ideal for making an investment easily in a small amount of time. The limitations are the long time it takes to get a return compared to making our own mining rigs plus not really owning anything. For the greatest profits, making our own mining rigs seems to be a better investment not just of the money but for the valuable learning it takes to build on our own machines which then translates to skills good for earning high dollars per hour! On Step #3, make sure to take a look at your actual electric bill and check what your kilowatt rate is.

It can vary wildly depending on where you are and make a huge difference in your own profitability. I'd also suggest working in equipment depreciation. Generally systems running under high load are prone to needing regular tune-ups. I can't recall how many fans and other items I've had to replace. Finally, I'd consider re-running any set of final numbers through an Eth price of $100 and $200, just to get an idea of how much profitability will drop on market pull-backs. I'd assume needing to weather one at some point. Thanks Jerry.

Interesting video but as as someone who has been mining crypto since 2013. You didnt adjust your watts in the video and efficiency is key when mining ( watts per m/h) also you wont be able to run 50 cards in one house unless you upgrade your house to handle the load. On top of that you didnt mention the heat these cards produce you NEED cooling and downtime of rigs will happen as well. And there are many other things such as bios modding and overclocking cards to improve watts and hashrate. Also there are fees when mining such as pool fees and mining program fees etc.

Lastly the 8k to start in the video is way off for 50 cards your looking at more like 14k and that is not including psu, motherboard, ram, ssd/hdd, cables, risers, cpu, cooling, etc. If you're going to mine please do a little bit more research or you will lose money. Or you can cloud mine and pay a big premium for less work. If I can become a Steemian early enough and read this article 10 day before, I might have setup my own machine at home mining already. However the researches I did basically pointed me to another direction of mining, Genesis-mining. Reasons are simple: • Electric bill is extremely expensive here in Hong Kong • Mining at home is too noisy and hot, we have small.very small apartment only • GPU cards that are good for mining machines are all sold out without nay expected stock up date. So I decided to take cloud mining as a starting point.

My Genesis-mining plan is now running for about 10 days, still hard to tell if it is profitable or not, but at least I see a little bit of ETH being stored. Waiting to get my first payout in another 22 days time. First let me say the content you post, particularly on Youtube, and Steemit is of superb quality and I wanted to thank you for your many informative posts! Second, I personally think Ethereum is the future of cryptocurrency. So many new and exciting things can be made with Solidity, I don't think ether gets the credit it deserves, most people just think it's a platform to release ICOs on, well that may be true, it's so much more than that and we're only now BEGINNING to scratch the surface of what's possible.