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.
