Ethereum Classic For Investors #17 – What Is The Ethereum Classic Emerald Wallet?

Chuck G: Hello everyone, this is Chuck G with another weekly update on Ethereum Classic development. This week, I wanted to talk to you a little bit about what they’ve been up to.

What they’ve been up to lately is the Ethereum Classic desktop wallet. For those of you who bought Ethereum, you had Ethereum Mist.

For those that are new to the cryptocurrencies, a desktop wallet is basically a node. What is a node? It’s a program that runs on your computer. It downloads the whole blockchain and all the transactions that have ever been done, then validates all the new ones for you.

Speaking of Ethereum Mist, which for a while we port it over to Ethereum classic and we’re updating and maintaining, but we are no longer, you can also do some smart contracts with it. You could play around with some smart contracts.

The Ethereum classic developers don’t want to maintain Mist anymore. They don’t want to be playing around with programming that they didn’t start. Therefore, they’re creating a whole new program to kind of show that they’re more than capable of doing it on their own.

It’s a new wallet called Emerald. It’s going to be very cool. It’s going to have a lot more new features. I think those who are in the Ethereum ecosystem are going to be very impressed. For the development, they’ve added how you can sign transactions, how to create new keys, how to do estimation for gas.

Estimation for gas is basically your transaction fee for running applications and sending transactions on Etherium classic.

You’re going to have the ability to run it as a desktop app. One of the really cool features about the Emerald wallet is that if you do not have to run the full node yourself, which means to download the whole blockchain and update all the time. It can be time-consuming.

For example, the first time you install Mist for Etherium, it took me 2 days to download the whole blockchain, because you have to download and validate all the transactions as if they’re fresh. That’s how you know for sure that you have a valid ledger

Therefore, it is important for the network that there are people that run full nodes. However, for those of you that don’t want to go through the time-consuming process, what you can basically do is you can connect to some full nodes that are out there, which is basically like the light wallet, like the web wallets like ClassicEtherWallet.

We’ll talk about ClassicEtherWallet as well because there are some cool wallet options out there for Etherium Classic.

To recap, the Etherium developers have been working hard on the Emerald desktop wallet. You’re going to be able to create contracts. There’s going to be lots of tools for developers and people to use the Emerald Wallet, so you can create an easy-to-use smart contract, not just use ones that are out there. This is a really cool feature in Ethereum Classic, which I think developers are going to like it, as well as advanced users.

Besides, you can run a full node or you can connect to a node out there. This is probably going to be the most secure way for most people to keep their Etherium Classic on your desktop. In addition, you can validate all the transactions and you create contracts on there as well.  

For the other Ether Waller out there, there’s ClassicEtherWallet.com. that been maintained by Elaine. She’s an Ethereum Classic advisor to the Ethereum Classic development team. One of the cool things about the Etherium classic wallet she’s added is that you can connect to one of 3 nodes.

For your information, every wallet has to connect to a node for the wallet to see what’s inside your address. It has to connect to the system. It has to connect to a full node. Instead of having just 1 node connected to ClassicEtherWallet, she’s got 3 nodes connected.

If for whatever reason the default node, Etherhub.io, goes down, you also have gastracker.io and epool.io. You’ve got 3 good nodes that are up all the time.

If anyone of them goes down, you got another one to pick. You can always find a way to send your Ethereum Classic. For whatever reason, the normal wallet you have is down, go to ClassicEtherWallet.com and you can have 3 options there.

Do you remember that the ClassicEtherWallet is a port of MyEtherWallet which was originally developed Ethereum?

One of the nice things that MyEtherWallet has done is they’ve added a complete Ether Classic functionality. We have to give the credit for the 2 developers that work at MyEtherWallet. I do believe it also connects to epool.io. Let me confirm that real quick.

If you go up into the right-hand corner, not only do you have the options for an Ethereum and the Ethereum TestNet, you go to ETC and now you have all the same functionality with MyEtherWallet for contracts and tokens. You just need to go up into the corner, with your node and go to the epool.io. You can even add your own custom node. I don’t know how to do that, but that’s a pretty cool feature they have.

If you’re looking for other Ethereum Classic wallets, you can go to jaxx.io. They’ve got a really nice feature where they also include other cryptocurrencies such as Etherium, Dash, Litecoin, Zcash, Bitcoin.

If you have quite a number of different cryptocurrencies, jaxx.io might be a really nice option for you. They also have an iOS app, an Android app, desktop app, web app, and Chrome extension.

Besides, for Ethereum Classic wallets, you can always use the hardware wallets. You can use Trezor or Ledger wallet.

There is a Chrome extension by Cody Burns that connects the ClassicEtherWallet.com. That support from the MyEtherWallet chrome extension.

I personally would rather use Cody Burns’s chrome extension because it’s configured for Ether Classic. If you use the MyEtherWallet, you can use the MyEtherWallet chrome extension, but personally, I don’t like that.

If you’re looking for a nice wallet, The Ethereum Classic desktop wallet is coming out. It’s going to be called Emerald. It is going to be great. It is going to have some awesome features that are soon to come probably within the next 3 months.

You also have ClassicEtherWallet.com, MyEtherWallet.com, jaxx.io. You can keep it on your iPhone, Android, any smartphone, desktop, and Chrome extension. You got a lot of wallet options for Ethereum Classic.

 

That’s your weekly update from @eth_classic. If you want your daily updates on the Ethereum Classic network, go to the Ethereum Classic twitter account that I help manage, @eth_classic.

 

This is Chuck G giving you another weekly update on Ethereum classic. Hope you guys join us. We’ve been having some great developments in the last few weeks and we got more to come. I’m happy to share them with you at all. Have a great day. Bye guys

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