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What Is Ethereum Classic (ETC)? How to Mine Ethereum Classic (ETC)
2025-09-25 11:44

Introduction to Ethereum Classic (ETC)

Ethereum Classic (ETC) is an open-source, decentralized, blockchain-based cryptocurrency that utilizes smart contracts. Ethereum Classic was developed in response to a 2016 hack in which the Ethereum community divided on whether to recompense affected network users. The original blockchain was split into two, with Ethereum Classic being the "immutable" original chain and Ethereum continuing as a hard fork led by Vitalik Buterin.

Ethereum Classic is now managed by a dedicated group of miners who have decided to follow a separate technical roadmap for the chain's growth. Since its beginning, Ethereum Classic has refused to fork and has consistently resisted developer alterations.

One of the biggest differences from Ethereum is that Ethereum Classic retains the proof-of-work mechanism as well as the competitive reward structure that Ethereum used pre-merged. This means that the Ethereum Classic token can be mined, but the Ethereum token cannot.


Understanding the ETC Distribution Mechanism

Ethereum Classic features its own native token, ETC, and it follows Bitcoin's scarcity principle, with a total supply of 210,700,000 coins. It also retains the original proof-of-work consensus mechanism.

It employs a "5M20" emission schedule, which reduces block rewards by 20% every 5 million blocks (about every 2.5 years). Starting at 5 ETC per block, incentives have gradually decreased until May 2024, when they were reduced to 2.048 ETC. This anticipated reduction serves to manage inflation and increase scarcity, which can drive value over time. 

ETC's tokenomics — capped supply, predictable emission schedule, and decentralized governance — provide scarcity and transparency. Born as the first Ethereum chain, its future depends on combining innovation with a firm commitment to immutability and decentralization.


ETC Mining Profitability and Potential

ETC is mined by the cryptocurrency community and is still traded on exchanges. ETC clings to an apparently strong following of investors and traders.

ETC provides a procedure for improvement proposals, just as Ethereum does. It has undergone several improvements since its hard fork, including compatibility with the most recent modifications made to Ethereum.

Ethereum Classic's potential remains evident in its applications across various major industries; for instance, its adoption in the IoT industry is expected to continue growing in the future.

IoT (or "Internet of Things") is a technology that allows device-to-device connection via the internet, making life easier. It has grown in popularity in recent years.

In the current situation, due to data centralization and over-concentration, it is impossible to preserve privacy and ensure the validity of records, raising concerns about whether the expansion of the IoT will be secure enough to ensure our safety.

Given the DAO tragedy, Ethereum Classic is staying true to its code and is protected by a community that values immutable transactions (value record security) and a decentralized platform.

This type of development posture for Ethereum Classic is expected to be recognized as an essential aspect in its adoption and growth in the IoT Field.


How to Mine Ethereum Classic (ETC)

Ethereum Classic (ETC) can be mined individually; still, it carries significant risks due to the high computational power required to find a block and the erratic nature of rewards, making it a challenging and potentially unprofitable venture for most individual miners. Joining a mining pool is usually more profitable for miners, and this is the path most miners choose. Mining pools enable miners to combine their processing power, increasing their odds of successfully mining a block. Here’s a step-by-step guide on how to join a mining pool, start mining Ethereum Classic (ETC), and get your earnings distributed:


1.Select a Reliable Mining Pool.

Select a reputable mining pool that supports ETC mining. ViaBTC is a good choice due to its low fees, consistent payouts, multilingual support, and user-friendly interface, making it an ideal option for beginner miners.


2.Register and Create an Account.

Visit the mining pool's website (e.g., ViaBTC) and create an account. This grants you access to pool management features and options.


3.Choose Your Desired Payment Option in ViaBTC.

ViaBTC offers one payment option for ETC: PPLNS. Learn about the different payment methods and mining reward distribution. 


4.Configure Your Mining Setup.

You can use either the ASIC method to mine ETC. ASIC is easier to use because you don’t need a Windows (Linux) PC to run the software. You can see the process of configuring the ASIC method here. If you are using the ASIC method, connect your ASIC miner to the pool by inputting the pool's server URL and your worker information (usually a username and password). 


5.Begin Mining and Monitor Performance.

Once the setup is ready, begin the mining process. Your device will add hashpower to the pool. You can track your hashrate, revenue, and miner status using pool dashboards that provide real-time updates.


6.Withdraw Your Earnings.

ViaBTC has a variety of withdrawal methods, including automatic withdrawals with no costs during particular hours, manual transfers, inter-user transfers, and transfers to CoinEx exchange with no further confirmation or fees.


Conclusion

Ethereum Classic is a well-established cryptocurrency that has overcome several difficulties. When we consider that Ethereum Classic is one of the oldest blockchains capable of using smart contracts, as well as the community's devotion to immutability, it's clear why it's such a popular platform among blockchain enthusiasts.




Disclaimer

The opinions expressed in this article are for informational purposes only. This article does not constitute an endorsement of any of the products and services discussed or investment, financial, or trading advice. Qualified professionals should be consulted before making financial decisions.