How to choose a wallet for Ethereum Classic?

To begin,visit the websites of official Ethereum Classic wallets and do some preliminary research. Some of the popular wallet solutions available for Ethereum Classic users include Jaxx, Classic Ether Wallet, Ledger Nano S, Ethereum Parity, and Mist.

How does Ethereum Classic work?

The process of mining Ethereum Classic is the same as the mining process for other cryptocurrencies. A network of computers, operated by crypto miners, competes against each other to verify blocks of Ethereum Classic transactions and mint new ETC. Ethereum Classic miners earn rewards paid in the Ethereum Classic currency.

What is the Ethereum Classic blockchain?

The Ethereum Classic blockchain, like the Ethereum network, is capable of supporting smart contracts and decentralized apps and maintains its own Ethereum Classic tokens. Ethereum Classic forked from Ethereum in response to a major hacking incident, a rare but not impossible occurrence for cryptocurrency blockchains.

Why was Ethereum Classic hacked?

The main Ethereum blockchain responded by updating the blockchain to remove the incorrect transactions. There were many in the original Ethereum community that disagreed with that approach, which led to the fork. Ethereum Classic was created using the unaltered Ethereum ledger that contains the transactions from the hack.