Ethereum Classic (ETC)
- Category: Smart Contract Platform
- Coin Launched: July, 2015
- Resources: White Paper
- Official Website: Ethereum Classic
- Reddit: Ethereum Classic
ETHEREUM CLASSIC History / Information / Buying / Staking
ETHEREUM CLASSIC HISTORY
Ethereum Classic was formed in 2016 as a result of a hack of The DAO, a smart contract operating on the Ethereum blockchain. The original blockchain was split in two, with the majority of users choosing to reverse the hack and return the stolen funds.
HOW ETHEREUM CLASSIC WORKS
Ethereum Classic is very similar to Ethereum because it shares a common origin. It's a blockchain that allows other applications to be built atop it. These decentralized applications, or dapps, use code known as smart contracts so that people can exchange money, property, or anything else of value without a middleman. ETC is the native currency of the network. The Ethereum Classic network also enables dApps on the platform to issue their own tokens, including NFTs.
BENEFITS OF USING ETHEREUM CLASSIC
Some of the benefits of using Ethereum Classic are:
Ethereum Classic supports bot DApps and smart contracts
ETC is much cheaper than ETH and other cryptocurrencies such as BTC
ETC is attempting to create ties with Ethereum through interoperability
CAN YOU STAKE ETHEREUM CLASSIC
Ethereum Classic will remain a proof-of-work blockchain unlike Ethereum.
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