Ethereum Classic (ETC)
Last updated
Last updated
Ethereum Classic is an open-source, public, blockchain-based distributed computing platform featuring smart contract functionality. It provides a decentralized Turing-complete virtual machine, the Ethereum Virtual Machine, which can execute scripts using an international network of public nodes. After the DAO hack a majority of the Ethereum community decided that they would “hard fork” Ethereum to restore the investor’s financial loss and reputation. A hard fork is a kind of split or divergence where the community decides they will no longer follow the same protocols on the same blockchain. So a hard fork was implemented on the Ethereum blockchain at Block 192000 to refund the loss of the DAO investors. The hard fork made the hacked transaction invalid, and a new version of the blockchain was formed. A minority of users were against the hard fork, so they continued on the old blockchain and called themselves “Ethereum Classic”. ETC wallets are available online but you can use Math Wallet to store your ETC coins and many other cryptocurrencies with our multi-coin crypto wallet!
Ethereum Classic is also a decentralized programmable blockchain like Ethereum. And like ETH, ETC is traded on exchanges and offers the same functionality of decentralized apps and smart contracts as Ethereum (ETH). It also has the same smart contracts language called Solidity.
Ethereum Classic aims to solve the same issues as Ethereum, which are Transaction Finality, Decentralized Governance and applications that run Applications exactly as programmed without any possibility of downtime, censorship, fraud or third-party interference.
