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Ethereum Classic is the Bitcoin Cash of the Ethereum blockchain. Produced as a hard fork from the original Ethereum project in 2016, the aim of Ethereum Classic was to allow developers and Ethereum fanatics to take back control of the Ethereum blockchain, allowing it to remain close to its roots and exist as an Ethereum project, with tight connections to the original Ethereum’s morals and values.
According to the Ethereum Classic Website:“Ethereum Classic (ETC) is a smarter blockchain, it is a network, a community, and a cryptocurrency that takes digital assets further. In addition to allowing people to send value to each other, ETC allows for complex contracts that operate autonomously and cannot be modified or censored.”
Furthermore:“This may be best explained with an analogy, imagine Bitcoin as a landline phone—it does one thing very well. ETC is like a smartphone—it can do everything Bitcoin can and much more. If the Internet was simply a bunch of interconnected computers, and didn’t have any users or creators making websites, it would be largely useless. In much the same way a blockchain needs users and creators. ETC has both and we’re working on solving real world problems of interconnecting people and their devices.”
In essence, Ethereum Classic is a product that has been designed to take Ethereum one step further, without losing sight of the original aims and goals of Ethereum.
Because of the nature of the hard fork, some hostility does exist between fans of Ethereum and Ethereum Classic, with many from the Ethereum Classic camp arguing that actually, Ethereum is the newer currency and that Ethereum Classic is actually the original Ethereum cryptocurrency. It gets a little complicated, but as we know similar hostility exists between Bitcoin Cash and Bitcoin too – I guess crypto-fans just like to argue, don’t they?