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ETC Token: Fuel for the Immutable Blockchain! ⛽️🔗
The native token of Ethereum Classic (ETC) plays a key role in the functioning and security of the network. Its utility is deeply rooted in the Proof-of-Work mechanism and the philosophy of blockchain.
Gas for transactions: ETC is used to pay for "gas" – fees necessary for executing transactions and smart contract operations on the Ethereum Classic network. This prevents spam and ensures miners are compensated.
Miner rewards: Miners who validate transactions and create new blocks receive rewards in ETC. This incentivizes them to maintain the security and decentralization of the network.
Medium of exchange: ETC can be used as a medium of exchange for peer-to-peer transfers, paying for goods and services where ETC is accepted.
Long-term value: Due to its fixed supply (210.7 million ETC) and PoW mechanism, ETC is also considered by some as a store of value.
The ETC token is an integral part of the Ethereum Classic ecosystem, providing its security, functionality, and value.
#EthereumClassic #ETC #Газ #Майнинг #ProofOfWork $ETC
The native token of Ethereum Classic (ETC) plays a key role in the functioning and security of the network. Its utility is deeply rooted in the Proof-of-Work mechanism and the philosophy of blockchain.
Gas for transactions: ETC is used to pay for "gas" – fees necessary for executing transactions and smart contract operations on the Ethereum Classic network. This prevents spam and ensures miners are compensated.
Miner rewards: Miners who validate transactions and create new blocks receive rewards in ETC. This incentivizes them to maintain the security and decentralization of the network.
Medium of exchange: ETC can be used as a medium of exchange for peer-to-peer transfers, paying for goods and services where ETC is accepted.
Long-term value: Due to its fixed supply (210.7 million ETC) and PoW mechanism, ETC is also considered by some as a store of value.
The ETC token is an integral part of the Ethereum Classic ecosystem, providing its security, functionality, and value.
#EthereumClassic #ETC #Газ #Майнинг #ProofOfWork $ETC
xtravagent:
the future for again come back of gpu mining just like Ethereum
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When you make a transaction on networks like Ethereum, you pay "gas" – this is the fee that compensates for the computational power needed to process and verify your operation by miners.
Gas price: Measured in Gwei (a small fraction of ETH).
Gas limit: The maximum amount of gas you are willing to pay for the transaction.
Volatility: The gas price can vary greatly depending on network congestion. Understanding the concept of gas will help you better manage your transactions and avoid overpaying.
#Газ #GasFees #Блокчейн #Ethereum #Binance
Gas price: Measured in Gwei (a small fraction of ETH).
Gas limit: The maximum amount of gas you are willing to pay for the transaction.
Volatility: The gas price can vary greatly depending on network congestion. Understanding the concept of gas will help you better manage your transactions and avoid overpaying.
#Газ #GasFees #Блокчейн #Ethereum #Binance
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