ETC stands for Ethereum Classic, which is a decentralized, open-source blockchain platform that runs smart contracts. Here's a brief overview:
*Key Features*
1. *Decentralized*: ETC operates on a decentralized network, meaning no single entity controls it.
2. *Open-source*: The ETC codebase is open-source, allowing developers to review, modify, and distribute it.
3. *Smart contracts*: ETC supports the creation and execution of smart contracts, which are self-executing contracts with the terms of the agreement written directly into code.
4. *Blockchain*: ETC uses a blockchain data structure to record transactions, ensuring a secure, transparent, and tamper-proof ledger.
*History*
ETC originated from a hard fork of the Ethereum (ETH) blockchain in 2016. The fork occurred due to a disagreement within the Ethereum community regarding how to handle a significant hack that resulted in the theft of millions of dollars' worth of Ether.
*Differences from Ethereum*
While ETC shares many similarities with Ethereum, there are some key differences:
1. *Immutability*: ETC prioritizes immutability, meaning that once a transaction is written to the blockchain, it cannot be altered or deleted.
2. *No hard forks*: ETC has a more conservative approach to upgrades, preferring to avoid hard forks whenever possible.
3. *Different development roadmap*: ETC has its own development roadmap, which may diverge from Ethereum's roadmap.
*Use cases*
ETC can be used for various purposes, including:
1. *Smart contracts*: ETC's smart contract functionality enables the creation of decentralized applications (dApps) for various industries, such as finance, supply chain management, and gaming.
2. *Decentralized finance (DeFi)*: ETC can be used for DeFi applications, such as lending, borrowing, and trading.
3. *Non-fungible tokens (NFTs)*: ETC supports the creation and trading of NFTs, which represent unique digital assets.#MtGoxTransfers