🔹 Ethereum Classic (ETC) Currency
Ethereum Classic is considered a public, open-source distributed computing platform based on blockchain technology, distinguished by its support for Smart Contracts and decentralized programming. The platform relies on the Ethereum Virtual Machine (EVM), which is a 'Turing-complete' programming environment capable of executing applications and scripts across a global network of nodes.
💰 The network's token is known as Classic Ether (ETC), and it is used for:
Transferring value between participants.
Paying the operational costs of smart contracts and decentralized applications.
Compensating the participating nodes through a Gas mechanism, which prevents unwanted transactions and allocates resources efficiently.
🔀 Origin of Ethereum Classic:
In 2016, a dispute arose within the Ethereum community due to the DAO hack.
This resulted in a chain split (Hard Fork):
Ethereum (ETH): Followed the new path after the split.
Ethereum Classic (ETC): Retained the original chain without any modifications.
Thus, ETC became the symbol of continuity for the philosophy of "immutable blockchain".
⚙️ Technical developments:
ETC has undergone several technical splits to modify operation prices (opcodes) and enhance network security.
In 2017, it changed its monetary policy from unlimited emissions to a system resembling Bitcoin, making it scarcer over time.
🌐 Today, Ethereum Classic is considered one of the leading networks.