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Ethereum Classic is an open, public, distributed computing platform based on blockchain with smart contract (script) functionality. The platform provides a decentralized, Turing-complete virtual machine called Ethereum (EVM), which can execute scripts using an international network of public nodes. Ethereum Classic also offers a nominal token called Classic Ether, which can be transferred between participants, stored in cryptocurrency wallets, and used to compensate participant nodes performing computations. Classic Ether trades on cryptocurrency exchanges under the ticker ETC. Gas, the internal transaction pricing mechanism, is used to prevent spam on the network and distribute resources proportional to the incentive provided by the request.

The Ethereum platform split into two versions: 'Ethereum Classic' (ETC) and 'Ethereum' (ETH). Before the fork, the token was called Ethereum. After the fork, the new tokens retained the name Ethereum (ETH), while the old tokens were renamed Ethereum Classic (ETC). Ethereum Classic emerged as a result of disagreements with the Ethereum Foundation regarding the DAO hard fork.$ETC #ETC