Ethereum Classic (ETC)
$60.280 / $57.380
What is Ethereum Classic (ETC)
Ethereum Classic (ETC) is a smart contract platform which enables developers to build and run decentralized applications (DApps) on blockchain just like Ethereum. To understand what the difference is between Ethereum and Ethereum Classic, their history needs to be known.
After a DAO attack, Ethereum network splitted up. While Ethereum community reverse back the attack, some group of people was completely against it because of the nature of decentralization. Those group of people created Ethereum Classic as a hardfork of Ethereum’s codes. So, Ethereum Classic is using the same technology as Ethereum. However, those two are completely distinct networks.
Whilst Ethereum and Ethereum classic are two distinct crypto currencies, funds can be held on the same wallet. On the other hand, Ethereum network will be a Proof of Stake network in 2021 as planned, but Ethereum Classic is using Proof of Work algorithm and its community has not any consideration to change it.