Ethereum Classic (ETC) is a continuation of the original Ethereum blockchain after a hard fork, emphasizing immutability and decentralization.
Ethereum Classic (ETC) emerged from a contentious hard fork of the Ethereum blockchain in 2016, following the DAO hack incident. While Ethereum (ETH) chose to implement a hard fork to recover stolen funds, Ethereum Classic adhered to the principle of immutability and continued on the original blockchain. As a result, Ethereum Classic maintains the original Ethereum codebase and preserves the history of transactions prior to the fork. This commitment to immutability and decentralization underscores Ethereum Classic's philosophy of upholding blockchain principles, where transactions are irreversible and smart contracts are executed as written, without external interference.
ETC serves as the native cryptocurrency of the Ethereum Classic blockchain, supporting decentralized applications (dApps), smart contracts, and value transfer. Like Ethereum, ETC operates on a proof-of-work consensus mechanism, where miners walidate transactions and secure the network. Ethereum Classic aims to provide a reliable and censorship-resistant platform for developers and users who prioritize principles of decentralization and transaction finality. Despite diverging from Ethereum's path, Ethereum Classic continues to evolve with community-driven initiatives and partnerships, aiming to expand its ecosystem and foster innovation in blockchain technology.