Ethereum Classic (ETC) is a decentralized blockchain platform that emerged after a split in the Ethereum network in 2016. While Ethereum (ETH) moved forward with a hard fork to reverse a major hack, Ethereum Classic remained loyal to the original blockchain, preserving its immutable nature. In this guide, we’ll explore Ethereum Classic, its features, and how it differs from Ethereum, offering insights for beginners.
What is Ethereum Classic?
Ethereum Classic is the original version of the Ethereum blockchain. It operates as a decentralized platform for smart contracts and decentralized applications (dApps). Unlike Ethereum, Ethereum Classic adheres to the philosophy of “Code is Law,” meaning transactions and smart contracts are immutable once executed, without the possibility of reversal. This ensures a trustless environment for developers and users.
Key Features of Ethereum Classic
Ethereum Classic shares many features with Ethereum, such as its use of a Turing-complete virtual machine (EVM) and the ability to run dApps and smart contracts. However, it differs in its governance structure, with a smaller, more decentralized community. It also uses the same proof-of-work consensus mechanism, which requires miners to validate transactions and secure the network.
Why Choose Ethereum Classic?
Ethereum Classic offers a more stable and decentralized environment compared to Ethereum. Its commitment to immutability and decentralized governance makes it an attractive option for users and developers who prioritize these principles. Additionally, with a lower supply of ETC tokens, some see it as a potential store of value.
In conclusion, Ethereum Classic remains an important project in the blockchain space. Its commitment to the original vision of Ethereum makes it a unique alternative for those interested in decentralized applications and smart contracts.
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