Ethereum Classic (ETC) is an open-source, decentralized cryptocurrency which has appeared as a result of Ethereum hardfork in 2016. The reason for the fork was the need to change the program code to increase the level of security. This is an attempt to keep the Ethereum blockchain unchanged by a part of the community that opposed the DAO hard fork.
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Ethereum Classic (ETC) cryptocurrency is supported by Barry Silbert, head of the Digital Currency Group. The ETC community adherer to a more strict ideological framework. Ethereum was just a manifestation of liberalism in the world of crypto, whereas Ethereum Classic is a conservative manifesto which is referred to as authentic Ethereum.
Ethereum Classic is definitely not a twin brother of Ethereum. However, they have a common origin. How does Ethereum Classic cryptocurrency differ from Ethereum and can it overshadow the success of a relative? Let’s find out what Ethereum Classic cryptocurrency actually is with Changelly!Nascence of the new Ethereum
The scandal happened on 17 June 2016. The unknown attacker managed to withdraw more than $60 million forms the DAO fund. This event went down in history as an Ethereum crucial moment. The community proposed three options:Implement a softfork and rollback the system Make hardfork and reset smart contracts, which the attacker implemented To not interfere in the process
On July 20, the second option was chosen. This day appeared 2 versions of Ethereum: Ethereum (ETH) and Ethereum Classic (ETC).
Hardfork helped to return all stolen funds. Ethereum developers switched to the new branch. Among them were Vitalik Buterin, Charles Hoskinson, and Gavin Wool. Opponents of the hardfork remained on the old blockchain and named it as Ethereum Classic (ETC).Ethereum Classic (ETC) Coin Value
Ethereum Classic (ETC) cryptocurrency began to gain popularity on ...