Introduction to Ethereum Classic (ETC)
Ethereum Classic (ETC) is the original continuation of the Ethereum blockchain, emerging after a hard fork at block 1,920,000 in 2016. Often referred to as "Ethereum Classic" or "ETC," it maintains the core principles of decentralization and immutability that defined Ethereum's early days. Here’s a detailed breakdown:
Key Features of ETC
- Decentralized & Immutable: Unlike its counterpart ETH, ETC rejects transactional reversals, adhering strictly to blockchain’s "code is law" ethos.
- Fixed Supply: Capped at 210 million ETC, ensuring scarcity akin to Bitcoin.
- Smart Contract Compatibility: Supports dApps and smart contracts, mirroring Ethereum’s functionality.
👉 Discover how ETC compares to other cryptocurrencies
The History Behind Ethereum Classic
The DAO Hack and Hard Fork
In 2016, a vulnerability in TheDAO—a prominent Ethereum project—led to a $50 million theft. The Ethereum community voted to reverse the hack via a hard fork, creating two chains:
- Ethereum (ETH): The new chain with altered transaction history.
- Ethereum Classic (ETC): The original chain, preserved by developers valuing immutability.
Post-Fork Development
- Team: Led by CTO Igor Artamonov, ETC’s development is community-driven.
- Philosophy: Upholds blockchain’s foundational principle: transactions are irreversible.
ETC Tokenomics
| Metric | Value |
|---|---|
| Max Supply | 210,000,000 ETC |
| Circulating Supply | 152,536,159 ETC (72.4% of max) |
| Market Cap | $2.57 billion (as of latest data) |
| All-Time High | $178.01 |
| All-Time Low | $0.45 |
👉 Track real-time ETC price trends
Why Invest in Ethereum Classic?
- Philosophical Alignment: Appeals to proponents of unaltered blockchain history.
- Utility: Used for dApps, DeFi, and as a store of value.
- Market Position: Ranked #16 by market cap, traded on 54+ exchanges.
Frequently Asked Questions (FAQs)
1. What’s the difference between ETH and ETC?
- ETH: Post-fork chain with transactional reversibility.
- ETC: Original chain prioritizing immutability.
2. How can I buy ETC?
ETC is available on major exchanges like Binance, OKX, and Huobi via spot or futures markets.
3. Is ETC a good investment?
While volatile, ETC offers a unique value proposition for believers in blockchain purism. Diversify wisely.
4. What’s ETC’s long-term vision?
To maintain a decentralized, immutable ledger while scaling via upgrades like Ethereum Classic Improvement Proposals (ECIPs).
Final Thoughts
Ethereum Classic remains a testament to blockchain’s foundational ideals. Whether you’re a developer, investor, or enthusiast, ETC offers a compelling case for the importance of immutability in crypto ecosystems.
For deeper insights, explore ETC’s official documentation.