Klever Wallet Adds Ethereum Classic (ETC) Swap Pairs

ETC Swap

Available Ethereum Classic ETC BEP20 Swap pairs: 

What Is Ethereum Classic (ETC)?

In July 2016, Ethereum Classic (ETC) was released as a hard fork of Ethereum (ETH). It functions primarily as a smart contract network that can host and support decentralized applications (DApps). ETC is its native token.

With time, Ethereum Classic’s technical roadmap diverges further and further from Ethereum’s. Since its launch, Ethereum Classic has sought to differentiate itself from Ethereum.

The first goal of Ethereum Classic was to preserve the integrity of the existing Ethereum blockchain following a major hacking attack that resulted in 3.6 million ETH being stolen.

Ethereum Classic Founders: Who Are They?

Due to its origins as the legacy chain of Ethereum, Ethereum Classic actually originated from Vitalik Buterin and Gavin Wood, the original developers of Ethereum.

Ethereum had a contentious hard fork in July 2016, when participants disagreed over whether to revert the blockchain to undo the consequences of a major hack. In an initial coin offering (ICO) conducted several months earlier, The DAO, a decentralized autonomous organization (DAO) raised approximately $150 million.

Ethereum Classic is a network that doesn’t revert chain transactions. A group of developers describes the project as a permissionless “do-ocracy” in which anyone can participate, with no “official” team attached to it.

Ethereum Classic: What Makes It Unique?

Ethereum Classic’s primary goal is to preserve the Ethereum blockchain as it originally was, without artificially counteracting the DAO hack.

The legacy network appealed first to those who disagreed with Ethereum’s response, but it now has a broader fan base, including major investors such as Barry Silbert, CEO of investment firm Grayscale.

As a non-profit organization, the developers of ETC do not wish to turn the network into a commercial entity. Transaction fees are paid by users as with Ethereum, and miner fees are collected based on the proof-of-work (PoW) algorithm.

While Ethereum Classic does not plan to convert to a proof-of-stake mining algorithm, multiple developers are working on future improvements, such as scaling solutions.

Klever Swap

Klever Swap is a core service of the Klever app that makes it simpler, faster, and more convenient for our users to exchange cryptocurrencies at the click of a button. By monitoring live price action on top-tier exchanges, our native Swap engine creates a price index that is used by the Swap.

The swap itself is conducted by fully autonomous bots, built and maintained in-house by Klever’s developers’ team. These bots continuously seek the best exchange rate and prices among the top exchanges, and then execute the Swap with high precision, security and speed. The Klever Swap project is part of Klever Exchange.

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