The cryptocurrency market has been surging extensively and one of the major reason for that is Elon Musk and his series of tweets. Right now, the market is still peaking with two coins growing the most: Bitcoin and Dogecoin. While Dogecoin has been able to gain a lot of popularity in the past, people are considering other options such as Ethereum as well. Although, most of the new investors keep wondering about “how many Ethereum Classic are there in the world?” “how many Etherium Classic are in circulation?” and more. So, here is all you need to know about it.
How many Ethereum Classic are there in the world?
There are two types of virtual money, one has a limited number of tokens and the others have no limit. Cryptocurrencies such as Bitcoin (BTC) have a set number of tokens that can be mined. As per Newsweek, there can only ever be a maximum of 21 million Bitcoins (estimated to be reached by 2040), and once the limit approaches, it becomes increasingly harder for investors to mine more tokens. As per Coin Market Cap, ETC is no different. So, the maximum supply is of Ethereum Classic is 210,700,000 ETC which is roughly ten times that of Bitcoin (BTC), unlike ETH that has no cap.
Launched in July 2016, Ethereum is a smart contract network, with the ability to host and support decentralized applications. As per Investopedia’s report, this virtual currency is an open-source, decentralized, blockchain-based distributed cryptocurrency platform that runs smart contracts. The Ethereum Classic came into existence as a result of a network hack that happened in the year 2016. This then split up Ethereum‘s model into two; the original Ethereum Classic and Ethereum being the newer blockchain. Here Ethereum Classic retains its originality.
Based on the principle of “Code is Law,” smart contracts are self-executing autonomous digital applications, which are capable of running on their own as programmed. Currently, according to the Coin Market Cap data, Ethereum Classic Price is around $0.3534, as of writing this article. Ethereum Classic has a relatively large share of the market at the moment, but newer coins are gaining in popularity.