In this blog, we show you how to add Ethereum Classic to MetaMask wallet. First, we talk a bit about what the network is and what it does, etc. If you do not want to read about that and directly want to see how to add Ethereum Classic to MetaMask. You can go down this page and start reading “Getting Ethereum Classic on MetaMask”.
What is Ethereum Classic
When in 2015 the original Ethereum launched, many of its investors and developers were super excited. This excitement went on as the chain grew. Because of the excitement and trust, people had in the chain. Companies and solo developers started to build on Ethereum. One of these companies was slock.it, which created a project called the DAO. Because the DAO seemed to many as a great project that can turn into a profit. Many investors put their money in the DAO Dapp smart contract. But sadly enough the DAO code was not without faults. So a hacker found a way to steal around 50 million dollars of the funds locked in the DAO. This whole fiasco led to a discussion of what to do with the network. Keep it the way it is, or hard fork the blockchain? All the developers looked for a way to solve the problem. But in the end, the majority decided to follow Ethereum co-founder Vitalic Buterin, and hard fork the Ethereum blockchain. However, not everyone agreed on this. So the chain was split in 2. The bigger chain, (now called Ethereum) reversed the hacker’s transaction. But the (smaller) original chain did not. This original blockchain is now called Ethereum Classic. The ETC blockchain is in its essence the same as the Ethereum (P.O.W.) chain, but without having the hack reversed. Besides that, the chain has seen some changes over the years but functions still in almost the same way.
Ethereum Classic stats
Because the majority of the developers went with Ethereum after the split. ETC was not left with that many projects on it. Even today this has not seen enormous growth. But still the project has some applications and use cases to it. As we can see on the Ethereum Classic block explorer, the chain still transfers tens of transactions per block. Meaning that the blockchain probably processes about 2/6 transactions per second (this is not the maximum TPS). Which is not bad. These transactions most likely come from the almost 100 million wallets addresses that have been created on the network. So that would result in a lot of users. But not all of these addresses show signs of activity. One of the most important changes to Ethereum Classic was the update to its maximum supply. Whereas on Ethereum, there exists no maximum supply. But rather a burning mechanism to keep supply more or less capped or deflationary. On ETC they changed this to a hard cap. By making the block reward be reduced by 20% every 5 million blocks.
Native Ethereum Classic Dapps
Although Ethereum Classic works in the same way as Ethereum. Almost no Dapps have built on top of ETC. Because in theory, Dapps could just as easily deploy on ETH as on ETC. But we do not see this happening at all. Developers and Dapp creators seem to prefer to move to other EVM networks like Solana, Binance Smart Chain, Theta, and more. Which makes sense because these networks already improved their cost and speed. Whereas ETC struggles with the same problems as ETH. However, some apps and Dapps have decided to work with Ethereum Classic. Like Celsius network and Grayscale. But also on chain NFT’s like ETCpunks. Which is a bit of a copy of Ethereum’s Crypto Punks NFT’s.
The Ethereum Classic token
As the ETC token receives its use cases from the Ethereum Classic blockchain. For it to be useful ETC needs to be used. An increase of users on the network thus determines the whole future of the token. But unlike the other ETH chain. ETC does have a hard cap. Which should cap at around 210,000,000 ETC. So keeping the value at that. Without inflating the token into oblivion. However, currently, the ETC token has quite a high value. This is most likely because people use it a lot for trading on exchanges. But for the token to really represent this value the network needs more Dapps and users.
Mining Ethereum Classic
Soon ETH will move from ETH 1.0 to ETH 2.0. With this move, the blockchain will switch from a Proof of Work to a Proof of Stake mechanism. But Ethereum Classic will not. No, the ETC network will keep on using the same consensus mechanism. Because it community thinks that mining the blockchain with electricity results in more decentralization. So no, Ethereum Classic staking will not be a thing. But what could happen when ETH 1 goes to ETH 2, is that some of the miners direct their power to ETC. Because both networks do use the same algorithm and equipment. For the current ETH miners, their equipment will not generate any money anymore. So it would make sense for them to direct their power to a place where they can still get some profits. This could result in a large spike of mining power going into ETC later next year. But also directed to other blockchains that are compatible with their equipment.
Briding to Ethereum Classic
Bridging over from ETC to ETH, or the other way around is quite easy. As both blockchains work in a very similar way. Creating a bridge between them should be easier than with many other chains. Because of this ETC has a variety of bridges to BTC, ETH, BSC, and other EVM networks. Using a bridge like that can give you to option to switch your tokens between blockchain. So that you can benefit from the ups from other chains. While avoiding the downs of the chain that you used before. This can be for speed but in the case of ETC. People would move over to it mostly for their ideology. Because that is the whole point behind ETC. They care more about the honesty of code. Meaning that code works as law and humans should not interfere with the code. In a way what happened with the DAO hack.
Ethereum Classic price
Like we said before the Ethereum Classic price depends highly on its usage. Because of its max cap and no fee burn. The token receives all its value from usage. So the more people use the blockchain the more value the ETC token should have. To see this increase more Dapps will need to deploy on the chain. But this could happen as many developers still actively build on it and several teams do fund them. The ETC price has seen quite the volatility as it has had a high of about 130$ and currently swings around the 50$ range. If you want to buy Ethereum Classic, you should stay up to date with the Ethereum Classic price. If you buy ETC. This comes completely at your own risk. Because we do not give out financial advice and only you are responsible for your money. But if you do try to look at buying ETC then you might want to stay up to date with the Ethereum Classic News, Twitter, Reddit, and GitHub, So that you do not miss anything. Because ETC news can have a big influence on the ETC price. With that knowledge, you can make your own Ethereum Classic price predictions as we here at Yada Wallets do not make ETC price predictions. In Case you want to stay up to date with the ETC crypto price, you can check out the ETC pages on websites like CoinmarketCap, and CoinGecko. On these websites, you can see the constant price of the ETC token at all times.
Wallets that support Ethereum Classic
Because the network is very well known and was used quite a lot at the beginning. You see that you can find the blockchain added to many wallets and exchanges. For an exchange or a wallet that already supports Ethereum, it should be easy to also add ETC. Because of that reason and the demand to trade the token. We see a large number of wallets and exchanges supporting the network. At this moment there are even so many Ethereum Classic wallets that the network is in our wallet top 10 on the 9th place. From this, we can take that many people to want an ETC wallet. So the demand for ETC blockchain wallets is quite high. If you have not found your Ethereum Classic wallet yet, you can find your ETC wallet on our website. With our filter, you can easily find an ETC web, hardware, computer, or mobile wallet. So you can find the best place to store your ETC tokens. This wallet can store the funds with you or with the wallet provider. AKA, custodial or non-custodial. Whatever you prefer. With our wallet filter, you can find your perfect ETC wallet. That lets you spend your ETC freely. But in case you already used some Ethereum Classic wallets. Do not forget to leave a review on them as it can help other ETC account users in the future. So now that you are more educated on the topic, are you ready to start learning “how to add Ethereum Classic to Metamask wallet”? So you too can use your own Ethereum Classic wallet. Let’s see how to add Ethereum Classic to Metamask wallet”.
Getting Ethereum Classic on MetaMask
So to add the Ethereum Classic to MetaMask you have to open the MetaMask wallet (In case you don’t have MetaMask yet, please get it on this page). Once you have MetaMask installed, open it up on the full screen. So you will have the same screen as in our example here.
Now go to the top right of the screen where it says “Ethereum Mainnet” and click on the little arrow pointing down next to it. This opens the network’s tap where you can select all different types of EVM blockchains (Ethereum virtual machine) networks. Now here you can click on the Custom RPC to add a new custom EVM blockchain network of your choice. In this case, the Ethereum Classic.
Now Metamask will ask you for the data needed to connect the wallet to the Ethereum Classic. Please fill in the list below.
Network Name - Ethereum Classic
RPC URL ETC - https://www.ethercluster.com/etc
ETC Chain ID - 61
Symbol - ETC
ETC Block Explorer URL - https://blockscout.com/etc/mainnet/
When you have done this, you can just click save. And now you have added the Ethereum Classic to your MetaMask wallet.
If you would like to switch between the EVM blockchains. Simply click on the Network button in the top right of the screen to select another blockchain.
Because adding different types of EVM blockchains works the same, you can add any EVM blockchain in the same way. But instead of the list given in this blog, you replace that with another network’s ChainID, symbol, etc.
We hope this blog post helped you to integrate a new EVM into your MetaMask crypto wallet. So that you can now use Ethereum Classic as much as you want.
Find your wallet here
In case you want to see all the other wallets supporting Ethereum Classic mainnet. You can simply take a look here to filter between all wallets that do!
So we hope this article taught you more about how to add Ethereum Classic to MetaMask wallet and what is Ethereum Classic. But in case you have Questions regarding Crypto or Bitcoin? Feel free to ask them on our online Facebook or Telegram groups. Because we are happy to help whenever we can!