What is Ethereum Classic?
Ethereum Classic (ETC) is a decentralized blockchain platform that runs smart contracts: applications that run exactly as programmed without any possibility of downtime, censorship, fraud or third-party interference. These apps run on a custom built blockchain, an enormously powerful shared global infrastructure that can move value around and represent the ownership of property.
Ethereum Classic is a continuation of the original Ethereum blockchain – the classic version preserving untampered history; free from external interference and subjective tampering of transactions. Ethereum Classic is a decentralized platform that runs smart contracts: applications that run exactly as programmed without any possibility of downtime, censorship, fraud or third-party interference.
Ethereum Classic emerged as a result of a hard fork in the original Ethereum blockchain in 2016. The hard fork was implemented in response to the theft of funds from the DAO, an organization that was built on the Ethereum platform. The majority of users elected to move to the new, updated version of Ethereum, while a minority continued to use the original blockchain, now known as Ethereum Classic.
The Ethereum Classic blockchain is identical to the original Ethereum blockchain up until the point of the hard fork. This means that any transactions or smart contracts that were executed on the Ethereum Classic blockchain before the hard fork will also be reflected on the Ethereum blockchain. However, any transactions or contracts that were executed on the Ethereum blockchain after the hard fork will not be reflected on the Ethereum Classic blockchain.
How Ethereum Classic is different from Ethereum?
One of the key differences between Ethereum and Ethereum Classic is the approach to immutability. The Ethereum Classic community is committed to maintaining the immutability of the blockchain, regardless of the consequences. This means that the Ethereum Classic blockchain will never be modified, even in the event of a hack or other catastrophic event.
In contrast, the Ethereum community has adopted a more flexible approach to immutability. While the Ethereum blockchain is generally considered to be immutable, the community has shown a willingness to make changes to the blockchain in certain circumstances, such as in the case of the DAO hack.
In terms of technology, Ethereum Classic uses the same underlying technology as Ethereum, including the Solidity programming language and the Ethereum Virtual Machine (EVM). This means that developers can build and deploy smart contracts and decentralized applications (DApps) on both Ethereum and Ethereum Classic using the same tools and techniques.
One of the major advantages of Ethereum Classic is that it has a strong and dedicated community of supporters. The community is focused on maintaining the integrity and immutability of the blockchain, and many see Ethereum Classic as a true representation of the original vision for Ethereum.
In terms of adoption, Ethereum Classic has seen a steady increase in usage and popularity since its inception. It is supported by a number of major exchanges and has a growing ecosystem of DApps and other projects.
Overall, Ethereum Classic is a decentralized blockchain platform that offers the same capabilities as Ethereum, with a focus on maintaining the immutability of the blockchain. It is supported by a dedicated community of users and developers, and has a growing ecosystem of DApps and other projects.