Ethereum Classic (ETHC)
Ethereum Classic (ETC) is a decentralized, open-source blockchain platform that emerged in 2016 following a split from the original Ethereum network. This separation was driven by differing philosophies regarding blockchain immutability and the handling of a significant hacking incident involving The DAO. Ethereum Classic maintains the original, unaltered history of the Ethereum blockchain, adhering to the principle that "code is law."
Key Features:
- Immutability: Ethereum Classic upholds the principle of immutability, ensuring that once data is recorded on the blockchain, it cannot be altered or deleted. This commitment stems from the belief that blockchain transactions should be irreversible and tamper-proof.
- Proof of Work (PoW) Consensus: ETC utilizes a Proof of Work consensus mechanism, similar to Bitcoin, where miners validate transactions and secure the network by solving complex mathematical problems. This approach promotes decentralization and network security.
- Smart Contract Functionality: Ethereum Classic supports smart contracts, enabling developers to build and deploy decentralized applications (dApps) on its platform. These self-executing contracts facilitate automated and trustless transactions.
- Ethereum Virtual Machine (EVM) Compatibility: ETC is compatible with the Ethereum Virtual Machine, allowing it to execute scripts and run dApps similarly to Ethereum. This compatibility enables developers to port applications between Ethereum and Ethereum Classic with relative ease.
- Capped Supply: Ethereum Classic has implemented a capped supply limit of approximately 210.7 million ETC tokens, introducing a deflationary aspect intended to preserve value over time. This monetary policy contrasts with Ethereum, which does not have a fixed supply limit.