Since the hard fork created the two networks (ETH and ETC), users who aren’t as tech-savvy have had to figure out how to relocate their Ether.
If a user had Ether in an account before the hard fork, that user now has Ether located on both chains.
What this means for the person who decides to transfer their funds: If they transfer 10 ETH from account A to account B, then this same transaction will be replayed on the other chain at the same time, and will move 10 ETC from account A to account B.
To avoid this the “Sell ETC Safely” Dapp, created by Viktor Novak, provides a way for users to create a replay-safe transaction. This Dapp creates transactions that are valid on both ETC and ETH chains, but affects each one differently. Users can move ETH from account A to account B, while the ETC moves from account A to account C. This Dapp also charges 1% on the ETC side for the service which means users will receive 100% of their ETH and 99% of their ETC.
Here’s how it works:
- Step 1 (optional): Take a look at the verified source code of the splitter contract that will be used. It lives at address 0xc8d9...b611. The split method is the heart of the contract and you can see, that it will either route the payment to the destination address for ETH or to the destination address for ETC.
- Step 2: Create an account at Poloniex and go to Balances > Deposits & Withdrawals and request a new deposit address for Ethereum Classic (ETC).
- Step 3: Open Mist or start Ethereum Wallet with the flag "--mode mist" and open this page in the Mist browser. Open the account menu in the upper right corner and select the account or accounts which you would like to make visible to the DAPP.
- Step 4: If you have this page open in Mist, you should see a form below which allows you to prepare the transaction. Select the account from which you want to send, pick an amount and enter destination addresses for ETH and ETC. Enter your Poloniex deposit address for ETC and whatever address you like for ETH. It is recommended to create a new ETH account for this purpose, but it is also possible to simply send ETH back to the sender account.
- Step 5: Click on "prepare transaction" and double-check the details. Then click on "sign transaction" and enter your account password.
- Step 6: Wait 5 to 10 minutes for Poloniex to recognize your deposit of ETC. You are now ready to trade!