What Is Ethereum Classic?

Ethereum Classic is a decentralized computing platform that executes smart contracts. Applications are ran precisely as programmed with out the opportunity of censorship, downtime, or third-party interference.

Ethereum Classic is a distributed community consisting of a blockchain ledger, native cryptocurrency (ETC) and strong ecosystem of on-chain applications and services.

Ethereum Classic is the continuation of the unaltered historical past of the unique Ethereum chain. The ETC network exists to protect the precept of “Code is Regulation”.

Ethereum Classic is an open source, blockchain-based distributed computing platform that includes smart contract performance. It helps a modified model of Nakamoto consensus through transaction-based state transitions executed on a public Ethereum Digital Machine.

 

Ethereum Classic News

What Will Ethereum Classic Be Worth in 2025?

$2,000
Ethereum Classic will rise to $2,000 within the year of 2025 and $5,000 in 2030.

Did Ethereum Classic Get Hacked?

History of Ethereum Classic

In June 2016, the blockchain was hacked and $50 million value of funds had been stolen. Because of this, a break up or hard fork was carried out to secure the network.

In August 2020, a third huge hack occurred which shook the crypto world.
Hackers again – third time managed to brute-force their strategy to majority control over the network and managed to reorganize greater than 7,000 blocks, or about two days of mining.

 


The assault was recognized by Austrian mining firm Bitfly, which additionally recognized the primary and second assaults, whereby hackers reorganized virtually 8,000 blocks and took home round $9m in double spend transactions, a lot of it from crypto change OKEx.

Hackers target Ethereum Classic in the third 51% assault of the month.
Over 7,000 blocks reorganized–virtually as many as first and second assault mixed.

Ethereum Classic hack

Ethereum Classic Price

The price below is delayed at least 15 minutes. We feature Ethereum classic USD price, real-time charts, Ethereum classic news and videos. Check out latest Ethereum classic price here.
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Ethereum Classic vs Ethereum

Ethereum is a public, open-source software program platform constructed to help SMART contract performance. The Ethereum community makes use of Ether (ETH) as its token currency to process many transactions and supply computational energy to stakers and developers.

The community additionally permits token holders, developers to construct decentralized smart contract softwares and tools on top of it.. For instance, each Tether and Augur run on the Ethereum community.

The idea of a smart contract is vital to the understanding of Ethereum (ETH) vs Ethereum Classic (ETC). In easy phrases, a smart contract is a settlement between two events written in code.

It points out circumstances that need to be met by every parties for the contract to be executed. As soon as circumstances are met, the contract is processed by the blockchain and executed with out a permission of third-party (verification). Coupled with the immutability of the blockchain and its open-source design, smart contracts pose business possibilities for a lot of companies.

In 2019, Forbes recognized greater than 100 giant American corporations actively exploring blockchain know-how, with lots of them utilizing the Ethereum community.

Ethereum Classic (ETC) is the unique Ethereum blockchain. ETH and ETC share the identical blockchain before the July 2016 hard fork. Due to that, the preliminary design and performance of those two networks had been basically the identical.

The hard fork in 2016 cut up the blockchain into Ethereum Traditional and Ethereum, dividing the network and developers that time.

Most developers selected to improve to the brand new Ethereum protocol, limiting the dimensions of the ETC network and its capacity to enhance the Ethereum community.

 

Latest Ethereum Classic Tweets

Below are daily refreshed Ethereum classic tweets.

Alex is the author of ECIP-1049 proposing to change the #EthereumClassic PoW algorithm to Keccak-256 (Sha-3) which offers speed, long-term security, efficiency (more environmentally friendly), and extended functionalities among other things. #ETC

Alex Tsankov@antsankov

@BlockGeekDima @OlchikFX 10 years Dima 😉, it’s going to be used for serious stuff. Just wait for SHA3 to be turned on.

Grayscale Announces Three Additional Trusts Now SEC Reporting Companies (including Grayscale #EthereumClassic Trust.) #ETCArmy #Cryptocurrency #Crypto https://t.co/zVHJYjjvJt

Would you like your company to start paying your salary in #ETC $ETC? It is possible!

Let your employer know that they absolutely can start doing so - with mass payments in #EthereumClassic 🔥

@ETCCooperative @ETCConsortium @eth_classic @ClassicIsComing
https://t.co/LuloAjd4CQ

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Ethereum Classic Tweets



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