Ethereum Classic project came into existence back in 2016 when a number of members of the Ethereum community refused the hard fork due to the idealogical principle that the blockchain cannot be changed, therefore decided to keep using the unforked version of Ethereum. With that said, you can consider Ethereum Classic as original Ethereum, whereas current Ethereum is changed version.
In the Ethereum Classic blockchain as in the Ethereum, miners mine Ether, it's a type of crypto token that fuels the network. Beyond a tradeable cryptocurrency, Ether is also used by application developers to pay for transaction fees and services on the network. There is a second type of token called gas, that is used as a fee for the transactions to be included into a block. Besides, every smart contract execution requires a certain amount of gas to be sent along with it to force miners to include it into the blockchain.
Ethereum Classic is based on the algorithm known as Ethash. Ethash is a Proof-of-Work algorithm that is a modified version of a precursor algorithm known as Dagger-Hashimoto.
Ethereum Classic mining requires at least 4GB of GPU memory as it downloads and stores a DAG file into it. DAG file stands for Directed Acyclic Graph and is used in all Ethash coins to provide a proof of work. DAG file is generated every mining epoch and it increases from epoch to epoch. For more details, see our quick step-by-step guide for on how to mine Ethereum Classic on Nanopool.
Ethereum Classic Wallets Exchanges Miners