What Is Ethereum Classic?
Ethereum Classic is not an original cryptocurrency, but instead a version of an existing cryptocurrency, Ethereum. Both blockchains are identical in every way up until block 1920000 where the hard-fork to refund The DAO token holders was implemented, meaning that all the balances, wallets, and transactions that happened on Ethereum until the hard-fork are still valid on the Ethereum Classic Blockchain. After the hard-fork, the blockchains were split in two and act individually.
Ethereum Classic still offers the same features as Ethereum, such as the creation and deployment of smart contract and Decentralized applications, and has all the same specifications, such as average block time, size and reward.
An Ethereum Classic payment API will allow you to integrate and accept Ethereum Classic payments on your website by connecting your company’s checkout system to a payment acquiring network. This will enable your customers to make purchases from you without the necessity to leave your website to process payments.
The same payment infrastructure can also be used to allow payments via a mobile app while having access to real-time data means you have useful data that can be used to help steer your business in the right direction.
Accepting Ethereum Classic on your website is a good business decision as it enables you to capture opportunities and cater for your existing and future consumers while providing a service to differentiate you from your competitors. Getting started is not a difficult process as the growing popularity of Ethereum Classic as a means of payment has made integrating a merchant account a fairly simple procedure.
How to Get Started
Gateway Integration, Merchant API, Payment Button
Plisio service allows you easily to get payments in the most popular cryptocurrencies, including Monero. And to make operations easier, all received payments are automatically calculated in EUR / USD or in ETC, depending on the parameters you set.
To integrate our payment gateway on your site, choose:
- One of the ready-made Plisio integrations for e-commerce content management systems or web-billing platforms
- API for a developer that can be customized for any website and other platforms
- Payment buttons for accepting donations or simple payments (for example, if you sell only one or a few products)
To start accepting Ethereum Classic, as well as Ethereum, Litecoin and other cryptocurrencies, first sign up. Then create API credentials if you are going to use our e-commerce plug-ins or APIs. If not, just create your payment button.
To keep all payments received in a cryptocurrency (i.e. receive payments in etc) on Plisio, verification is not required.
Accept Cryptocurrency Payments in 4 Simple Steps
Frequently Asked Questions
Ethereum Classic (ETC) is a decentralized, open-source, blockchain-based platform that operates on a global scale. It is an alternative version of Ethereum (ETH) that came into existence as a result of a hard fork in the Ethereum blockchain. Ethereum Classic was created after a disagreement between Ethereum community members on how to handle a hack that resulted in the loss of funds from The DAO (Decentralized Autonomous Organization). Some members of the community decided to reverse the hack, while others chose to maintain the integrity of the blockchain and keep the original state of the network, leading to the creation of Ethereum Classic. Ethereum Classic operates on its own blockchain and uses its own token (ETC), separate from the Ethereum network.
There can be many factors that can cause the price of Ethereum Classic (ETC) to drop, including changes in market sentiment, regulatory developments, competition from other cryptocurrencies, changes in overall economic conditions, and more. Additionally, supply and demand dynamics, technical indicators, and investor sentiment can all play a role in determining the price of ETC. It is important to remember that cryptocurrency markets are highly speculative and volatile, and the price of any individual coin can fluctuate rapidly and unpredictably. If you're considering investing in Ethereum Classic, it's crucial to thoroughly research the market and consider your risk tolerance before making any investment decisions.
The price of cryptocurrencies can be influenced by a variety of factors, such as market demand, governmental regulations, and overall economic conditions, among others. It is important to note that cryptocurrency investments are highly speculative and can be very volatile, so it's crucial to do thorough research and consult with a financial advisor before making any investment decisions.
Ethereum Classic (ETC) can be mined using a process called proof-of-work (PoW), where miners solve complex mathematical problems to validate transactions and add them to the blockchain. Here's how you can mine Ethereum Classic:
- Get a wallet: You'll need a wallet to receive the Ethereum Classic coins you mine. You can choose a software or hardware wallet, or use a service like Plisio, which provides both a wallet and a payment gateway.
- Choose a mining software: There are several mining software options available for Ethereum Classic, including Geth, Ethminer, and Claymore.
- Join a mining pool: Mining solo can be difficult and time-consuming, so many miners choose to join a mining pool. In a pool, miners work together to solve mathematical problems and split the rewards.
- Set up your hardware: To mine Ethereum Classic, you'll need a computer with a powerful graphics card. The better the hardware, the more efficiently you'll be able to mine.
- Start mining: Once you have all the necessary components in place, you can start mining Ethereum Classic. The software you choose will communicate with the Ethereum Classic network and start solving mathematical problems to validate transactions and add them to the blockchain.
It's important to note that mining cryptocurrency can be very competitive, and requires a significant investment in hardware and electricity. Before you start mining, it's a good idea to do thorough research and consult with a financial advisor to ensure that it's the right decision for you.
To buy Ethereum Classic, you need to follow these steps:
- Choose a cryptocurrency exchange: There are several exchanges that allow you to buy Ethereum Classic, such as Binance, Coinbase, and Kraken, among others.
- Create an account: Sign up for an account on the exchange of your choice, and complete the verification process.
- Add funds to your account: Depending on the exchange, you can add funds to your account using a bank transfer, credit or debit card, or another cryptocurrency.
- Buy Ethereum Classic: Once your account is funded, you can place an order to buy Ethereum Classic using the exchange's trading platform.
- Store your Ethereum Classic: After you have bought Ethereum Classic, you should transfer it to a secure wallet. Most exchanges offer a built-in wallet, but you can also use a hardware wallet or a software wallet for better security.
It's important to keep in mind that the price of Ethereum Classic can be volatile, and you should research the market and understand the risks before making a purchase.
An ETC payment refers to a payment made using Ethereum Classic (ETC). Ethereum Classic is a decentralized cryptocurrency and blockchain platform that is similar to Ethereum but has some key differences in terms of its consensus mechanism and overall design. ETC payments can be made to anyone with an ETC wallet address, and can be used for a variety of purposes, including online purchases, remittances, and peer-to-peer transactions. To receive ETC payments in Plisio, you will need to have a Plisio account with an ETC wallet address that you can share with the sender.
To accept ETC donations with Plisio, you can follow these steps:
- Sign up for a Plisio account at https://plisio.net/
- Once you've logged in, click on the "Create payment" button in your account dashboard.
- In the "Cryptocurrency" section, select "ETC" as the payment method.
- Enter the amount you want to receive and any other payment details you require, such as a payment description or callback URL.
- Click on the "Create" button to generate the payment address and QR code.
- Share the payment address or QR code with your donors so they can send ETC to your account.
Plisio will handle the payment processing and forward the ETC to your designated wallet address. You can also track your payment status and view payment history in your Plisio account dashboard.
Start Accepting Ethereum Classic
Connect to Plisio and start accepting Ethereum Classic in your store, ICO or other platform today.
Sign up for free in 2 clicks • Easy setup in 2 minutes • Tech support 24/7