. What is Ethereum Classic (ETC)? Here is the Crypto Currency ETC Token in All Details – In this article, what is Ethereum Classic (ETC)? We will answer the question and try to present details about the project.
Ethereum Classic (ETC) Nedir?
Ethereum Classic is a decentralized network that supports smart contracts.
It was created by Vitalik Buterin in 2013. Following the DAO hack in 2016, several members of the Ethereum community rejected the idea of a hard fork to return transactions (and return funds to DAO participants), which led to the Ethereum and Ethereum Classic split.
Ethereum Classic (ETC) left Ethereum at the 1,920,000 block (July 20, 2016) to retain the original version of the network, strengthening the blockchain’s immutability core feature. Ethereum has relied on Proof of Work (PoW) since its ICO in 2015; Ethereum Classic shares its early history with its first (joint) block, which was launched in July 2015.
Like Ethereum, the network is powered by a cryptocurrency called ether (classic). It includes an open source, globally decentralized computing infrastructure that runs programs called smart contracts.
Similarly, Ethereum Classic relies on an account model for recording state changes. It is based on the Ethereum Virtual Machine (EVM) with two types of addresses: externally owned addresses (EOAs) and contract addresses distributed in the EVM.
As of March 2020, Ethereum Classic’s hashrate is much lower than Ethereum’s and the on-chain activity level is lower than that of Ethereum. With Ethereum planning to leave Proof-of-Work (to promote PoS with ETH 2.0), Ethereum Classic plans to remain the invariable Proof of Work version of Ethereum.
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