What is Ethereum Classic?
Ethereum Classic is an open source blockchain platform that emerged after the split of Ethereum in 2016 following the DAO hack. The network adheres to the original blockchain principle of immutability: code is law. This means transactions on the blockchain cannot be reversed, regardless of circumstances. Ethereum Classic supports smart contracts and decentralized applications (dApps) and, like Bitcoin, uses a Proof-of-Work consensus mechanism.
Source: https://ethereumclassic.org/
How does Ethereum Classic work?
Ethereum Classic operates as a decentralized network of nodes that validate transactions and add new blocks through Proof-of-Work mining. Developers can build smart contracts that automatically execute once predefined conditions are met. The network focuses on stability, predictability, and preserving the original Ethereum protocol without radical changes.
The token
Abbreviation: ETC
Category: Smart contract platform
Blockchain: Ethereum Classic blockchain
Protocol: Proof-of-Work (Ethash)
Year of launch: 2016
The technology behind Ethereum Classic
Ethereum Classic uses the Ethereum Virtual Machine (EVM), making smart contracts and dApps compatible with many Ethereum tools. By maintaining Proof-of-Work, the network prioritizes maximum decentralization and censorship resistance. Protocol upgrades are introduced conservatively to ensure long-term network stability.
The Ethereum Classic ecosystem
The Ethereum Classic ecosystem includes developers, miners, infrastructure providers, and organizations such as the ETC Cooperative. Applications on the network range from financial use cases to identity solutions and tokenization. The community plays a key role in maintaining and promoting the network.
Who is the founder of Ethereum Classic?
Ethereum Classic does not have a separate founder. The network is the continuation of the original Ethereum blockchain maintained by part of the community after the DAO hack. While Vitalik Buterin is the original creator of Ethereum, he is not the founder of Ethereum Classic as a separate project.
Impact on the environment
Click here to read more information about the environmental impact of this coin.
Risk disclaimer
Please note: for more information about this crypto asset, consult the official resources provided by the project via https://ethereumclassic.org/
Before trading, make sure to read the general risk warning about crypto asset trading:
Cryptocurrencies, including Ethereum Classic (ETC), are volatile and involve risks. The value of ETC can fluctuate significantly, and investments may result in financial losses. Always do your own research and only invest money you are prepared to lose.
The BTC Direct disclaimer van be found here.