Ethereum Classic (ETC) is a decentralized blockchain platform that originated as a result of a contentious hard fork from the Ethereum blockchain in 2016. It aims to preserve the original principles of decentralization and immutability. ETC was founded by a group of Ethereum enthusiasts and it operates independently from the Ethereum Foundation. The naming origins come from the original Ethereum blockchain being referred to as "Classic" after the hard fork.
Ethereum Classic (ETC) is a decentralized blockchain platform that is derived from the original Ethereum network. It operates on a proof-of-work consensus mechanism, similar to other cryptocurrencies like Bitcoin. ETC uses smart contracts, which are self-executing agreements that run on the blockchain and automatically execute predefined conditions when met.
Underneath the hood, Ethereum Classic runs on its own blockchain, separate from Ethereum (ETH). The blockchain is a distributed ledger that records all transactions and smart contract executions. Unlike a centralized system, this decentralized network ensures transparency, immutability, and censorship resistance.
The functioning of Ethereum Classic revolves around the validation and execution of smart contracts. These contracts are written in Solidity, a programming language specifically designed for the Ethereum ecosystem. Once created, smart contracts are deployed to the Ethereum Classic network, where they are publicly accessible.
When a user interacts with a smart contract on the Ethereum Classic blockchain, the transaction is broadcasted to the network. Miners then validate the transaction and include it in a block. To prevent malicious activities, miners compete to solve complex mathematical puzzles to add a new block to the blockchain. This ensures the security and integrity of the network.
Once a transaction is included in a block, it is permanently recorded on the Ethereum Classic blockchain. All participants in the network have a copy of the blockchain, making it difficult to manipulate or tamper with the data.
In summary, Ethereum Classic utilizes blockchain technology to power a decentralized network where smart contracts are validated, executed, and recorded in a transparent and secure manner.
Ethereum Classic (ETC) is a public, decentralized blockchain platform that offers several benefits compared to its direct competitors, such as Ethereum (ETH).
One of the key benefits of Ethereum Classic is its commitment to immutability. Unlike Ethereum, which underwent a hard fork to reverse the effects of a hack in 2016, Ethereum Classic maintained the original blockchain without any alterations. This commitment to immutability appeals to individuals and organizations that prioritize censorship resistance and believe that code is law.
Additionally, Ethereum Classic offers a high level of security and robustness. It utilizes the same Proof of Work (PoW) consensus mechanism as Bitcoin, which has proven to be highly secure over time. This makes Ethereum Classic resistant to 51% attacks and ensures that the network maintains a reliable and trustworthy environment for decentralized applications.
Another advantage of Ethereum Classic is its simplicity. Unlike Ethereum, which introduced improvements and additional features through various upgrades, Ethereum Classic has remained simpler and more focused on its core functionality. This simplicity can be appealing for developers who prefer a stable and predictable environment.
While there are several benefits to using Ethereum Classic, it's important to note that each blockchain platform has its own strengths and weaknesses. Ethereum, for example, offers a more active development community and a larger ecosystem of dApps and smart contracts. Individuals and organizations should carefully consider their specific needs and preferences when choosing between Ethereum Classic and its competitors.
Ethereum Classic (ETC) is a blockchain platform that is primarily used for decentralized application (DApp) development and executing smart contracts. It is a continuation of the original Ethereum blockchain, which split into two in 2016 due to a contentious hard fork.
One common use case for Ethereum Classic is in the creation and execution of smart contracts. Smart contracts are self-executing agreements that are implemented on the blockchain, without the need for intermediaries. This allows for the automation of various processes, such as financial transactions, supply chain management, and decentralized governance.
One specific use case for Ethereum Classic is in the field of decentralized finance (DeFi). DeFi refers to a set of financial applications that operate on decentralized networks, offering traditional financial services without the need for intermediaries. Ethereum Classic provides a platform for the development and deployment of DeFi applications, such as decentralized exchanges, lending platforms, and yield farming protocols.
For example, a decentralized lending platform built on Ethereum Classic can allow users to lend and borrow digital assets directly from one another, without the need for a centralized authority. This can provide greater accessibility and transparency compared to traditional lending systems.
In summary, Ethereum Classic is primarily used for building and executing decentralized applications and smart contracts. Its versatility makes it suitable for various use cases, including decentralized finance applications.
DIA's Ethereum Classic API is one of the API endpoints provided by DIA that offers real-time price feeds for various crypto assets. These price feeds are curated using raw data obtained from a vast network of over 85 both on-chain and off-chain cryptocurrency and NFT exchanges, encompassing billions of individual trades. DIA prides itself on delivering data that sets it apart from other web3 data providers.
While DIA offers free API endpoints for developers to test, they also offer fully customizable custom feeds. The free price feed API endpoint for any specific asset can be found on the asset's detail page in the DIA App. These free API endpoints are available for informational purposes and offer a convenient way for developers to test their applications.
However, it is essential to emphasize that DIA places great importance on its custom feeds. When users require a specific configuration for their price feed, DIA is more than willing to create a dedicated API feed tailored to their needs. These custom feeds can be customized in terms of sources, methodologies, update mechanisms, and more. To request a custom data feed, users can reach out to DIA through Discord or Telegram.
DIA's API has various use cases within the blockchain ecosystem. In the field of DeFi, the price information from DIA's APIs can be employed in derivatives, options and futures, lending and borrowing markets, collateralized stablecoins, synthetic asset issuance, money markets, and much more. Similarly, in the NFTfi space, the API can enable peer-to-pool NFT lending and borrowing, on-chain NFT derivatives, NFT renting, NFT fractionalization, and other innovative applications.
In summary, DIA's Ethereum Classic API, along with its range of other API endpoints, provides real-time price feeds for crypto assets. While DIA offers free endpoints for testing, it places significant emphasis on creating custom feeds tailored to specific requirements. These custom feeds offer flexibility and customization options for developers and users in the blockchain ecosystem. The API finds utility in various DeFi and NFTfi applications, powering numerous financial instruments and innovations.
DIA's Ethereum Classic (ETC) price oracle is a smart contract that provides real-time price feeds of crypto assets, including ETC. DIA is a versatile blockchain oracle platform that offers price oracles across 35+ layer 1 and layer 2 networks. These oracles are constructed using data from over 85 on-chain and off-chain cryptocurrency and NFT exchanges, ensuring accurate and reliable price information.
While DIA provides demo oracles for developers to test, these are only intended for testing purposes and cannot be integrated into production applications. However, DIA offers custom configuration options for its price feeds. Users can request a dedicated price feed oracle tailored to their specific needs, including sources, methodologies, update mechanisms, and more. To request a custom feed, users can contact DIA via Discord or Telegram.
DIA's custom oracles are particularly valuable as they allow users to personalize and fine-tune their price feeds according to their requirements. This flexibility enables a wide range of use cases across the blockchain ecosystem. For DeFi applications, DIA's price information can be utilized in derivatives, options and futures, lending and borrowing markets, collateralized stablecoins, synthetic asset issuance, money markets, and more. In the NFTfi space, DIA's oracles can be employed for peer-to-pool NFT lending and borrowing, on-chain NFT derivatives, NFT renting, NFT fractionalization, and more.
In blockchain technology, an oracle refers to an external information provider that supplies verified data from outside the blockchain to smart contracts. Oracles play a crucial role in ensuring that smart contracts can access and utilize real-world data, expanding the capabilities and use cases of decentralized applications.
Overall, DIA's custom price oracles offer users the flexibility to tailor their price feed data, enabling them to meet specific requirements and unlock a wide range of use cases across the blockchain ecosystem.
DIA's ETC API and ETC Price Oracle offer numerous advantages for users in the blockchain sphere. These technologies provide access to precise and dependable price data for cryptocurrencies and NFTs. The primary benefit of utilizing DIA's API or Price Oracle pertaining to the mentioned token is the extensive customizability. Each oracle and API endpoint can be tailored to meet the specific requirements of decentralized applications. Users have the ability to configure settings, such as selecting the data sources that comprise the feed, applying data cleaning filters and pricing methodologies, and determining the frequency and mechanisms for feed updates. This level of customization ensures that the data and oracle remain robust and resilient, effectively adapting to market conditions. It also facilitates the provision of global market and specific individual or cross-chain market prices. DIA's API and Oracle feeds additionally offer a high level of transparency. Users can have complete visibility throughout the entire data process. Moreover, DIA provides various tracking and monitoring tools to closely monitor its oracle and API feeds. Overall, DIA's ETC API and ETC Price Oracle provide customizable solutions, transparency, and reliable data access for users in the blockchain ecosystem.