What is Ethereum Classic?
Ethereum Classic (ETC) is a decentralized, open-source digital currency that continues to use the Proof-of-Work consensus protocol, similar to the original Ethereum blockchain. It is a blockchain-based distributed computing platform that offers smart contract functionality. Ethereum Classic maintains the original, unaltered history of the Ethereum network.
Goals of this cryptocurrency
The purpose of Ethereum Classic is to provide a platform for decentralized applications (dApps), execute smart contracts, and operate on a blockchain. It aims to disrupt industries such as certificate authorities and can be used for anonymous transactions and reputation systems. Ethereum Classic provides a decentralized Turing-complete virtual machine, the Ethereum Virtual Machine (EVM), which can execute scripts using an international network of public nodes.
Fundamental economics of Ethereum Classic
Ethereum Classic's native Ether token is a cryptocurrency traded on digital currency exchanges under the currency code ETC. The current ETC monetary policy seeks the same goals as bitcoin: being mechanical, algorithmic, and capped. ETC can be exchanged for network transaction fees or other assets, commodities, currencies, products, and services. The number of token Ethereum Classic is 156559602 ETC.
The technology behind Ethereum Classic
Ethereum Classic's technology is based on a blockchain that uses the Proof-of-Work consensus protocol. It provides a decentralized Turing-complete virtual machine, the Ethereum Virtual Machine (EVM), which can execute scripts using an international network of public nodes. The virtual machine's instruction set is Turing-complete, in contrast to others like Bitcoin Script. Gas, an internal transaction pricing mechanism, is used to mitigate spam and allocate resources on the network.
Ethereum Classic compared to its competitors
Ethereum Classic differentiates itself from competitors by maintaining the original, unaltered history of the Ethereum network. Its competitive advantages include its decentralized Turing-complete virtual machine and its ability to execute scripts using an international network of public nodes. Ethereum Classic compares to competitors such as Ethereum and Cardano in the market, but its unique approach to maintaining the original Ethereum network sets it apart.
Ethereum Classic price history
Frequently asked questions
Ethereum Classic maintains the original, unaltered history of the Ethereum network, while Ethereum is a new version of the Ethereum mainnet with an irregular state change implemented that erased the DAO theft from the Ethereum blockchain history.
The Ethereum Virtual Machine (EVM) is a decentralized Turing-complete virtual machine that can execute scripts using an international network of public nodes.
Gas is an internal transaction pricing mechanism used to mitigate spam and allocate resources on the network.
Yes, Ethereum Classic can be used for anonymous transactions.
Ethereum Classic uses the Proof-of-Work consensus protocol.
Yes, Ethereum Classic is an open-source platform.
The native cryptocurrency of Ethereum Classic is Ether, traded on digital currency exchanges under the currency code ETC.
The market cap of Ethereum Classic is $1108478062.
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