Ethereum Classic (ETC)


Ethereum Classic (ETC) is a decentralized, open-source blockchain-based platform that was created in 2015 as a hard fork of the Ethereum (ETH) blockchain. Ethereum Classic was formed as a result of a disagreement within the Ethereum community regarding how to handle a major hack that occurred in 2016. While Ethereum chose to reverse the hack and create a new version of the blockchain, Ethereum Classic decided to stay true to the original blockchain and maintain its immutable state. In this article, we will discuss the history, features, and current developments of Ethereum Classic.


Ethereum Classic was created in July 2016 when a group of Ethereum miners and developers, led by Arvicco, disagreed with the decision to reverse the DAO (Decentralized Autonomous Organization) hack that resulted in the loss of millions of dollars worth of ETH. The DAO hack was a major security breach that exploited a vulnerability in the smart contract code of the DAO, which was a decentralized investment fund built on the Ethereum blockchain. In response, the Ethereum community voted to implement a hard fork that would reverse the hack and create a new version of the blockchain, which is now known as Ethereum (ETH). However, the group that disagreed with this decision continued to mine the original blockchain and created Ethereum Classic (ETC).


Like Ethereum, Ethereum Classic is a blockchain-based platform that allows developers to build decentralized applications (dApps) and smart contracts. Ethereum Classic uses a proof-of-work (PoW) consensus algorithm, which means that miners must solve complex mathematical problems to validate transactions and earn ETC rewards. The ETC blockchain has a block time of approximately 13 seconds and a current block reward of 3.2 ETC.

One of the main features of Ethereum Classic is its immutability. Unlike Ethereum, which can implement hard forks to reverse transactions or make changes to the blockchain, Ethereum Classic maintains a strict policy of not making any changes to the blockchain once it has been created. This means that all transactions and smart contracts on the ETC blockchain are immutable and cannot be altered or reversed.

Another key feature of Ethereum Classic is its focus on decentralization and community governance. Ethereum Classic has a decentralized development process that is led by the ETC Cooperative, a non-profit organization that supports the growth and development of the ETC ecosystem. The ETC community also has a robust governance process that allows token holders to vote on important decisions, such as changes to the network parameters or the allocation of community funds.

Current Developments

Since its creation, Ethereum Classic has faced many challenges, including network attacks, low adoption rates, and a lack of developer interest. However, the ETC community has continued to work on improving the platform and expanding its use cases.

One of the most significant developments in recent years has been the integration of the Ethereum Classic blockchain with the Ethereum Virtual Machine (EVM). This has allowed developers to build dApps and smart contracts on the ETC blockchain using the same programming languages and tools as Ethereum. This has also opened up new use cases for Ethereum Classic, such as decentralized finance (DeFi) applications and non-fungible tokens (NFTs).

Another major development has been the launch of the Emerald Wallet, which is a desktop wallet that allows users to store, manage, and exchange ETC tokens. The Emerald Wallet also includes a decentralized exchange (DEX) that allows users to trade ETC tokens with other cryptocurrencies without the need for a centralized exchange.

Use Cases

Ethereum Classic has several potential use cases, including:

  1. Decentralized Finance (DeFi): Ethereum Classic can be used to build DeFi applications, such as decentralized exchanges, lending platforms, and stablecoins. With the integration of the EVM, developers can leverage the same tools and programming languages as Ethereum to build DeFi applications on the ETC blockchain.
  2. Supply Chain Management: Ethereum Classic can be used to track and verify the authenticity of goods as they move through the supply chain. Smart contracts can be used to ensure that products are sourced from verified suppliers and are handled properly throughout the shipping process.
  3. Gaming: Ethereum Classic can be used to create and trade in-game assets, such as weapons, skins, and characters. These assets can be stored on the ETC blockchain as non-fungible tokens (NFTs), which provide a unique digital identity and allow for ownership to be verified.
  4. Identity Verification: Ethereum Classic can be used to verify and authenticate user identities. Smart contracts can be used to store and verify user information, such as biometric data or government-issued IDs, which can then be used for secure authentication.
  5. Voting: Ethereum Classic can be used for secure and transparent voting systems. Smart contracts can be used to store and tally votes, ensuring that the process is tamper-proof and transparent.

Overall, Ethereum Classic has the potential to be used in a wide range of industries and use cases, providing a secure, transparent, and decentralized platform for developers and users alike.

Crypto Information

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