Ethereum Classic (ETC) is a decentralized, open-source blockchain platform that enables the execution of smart contracts and decentralized applications (dApps). It emerged in 2016 as a result of a fork from Ethereum, maintaining the original blockchain after a disagreement in the community on how to handle a significant hack.
( $ETC was initiated after the major hacking incident in the early hours of June 17, 2016, on the network of $ETH )
Main features:
Immutability: Ethereum Classic upholds the principle that the blockchain must be immutable, meaning that recorded transactions should not be altered or reversed, even in cases of hacks or errors.
Smart contracts: Like Ethereum, it allows the creation and execution of smart contracts, which are programs that execute automatically when certain conditions are met.
Decentralization: Operates without a central authority, relying on a global network of nodes to validate and record transactions.
Utilities:
Development of dApps: Provides a platform for developers to create decentralized applications across various sectors, including finance, gaming, and supply chains.
Smart contracts: Facilitates the automation of agreements and processes through contracts that execute without intermediaries.
Value transfers: Enables transactions of its native cryptocurrency, ETC, between users quickly and securely.
Whitepaper:
Ethereum Classic does not have its own whitepaper, as it is a continuation of the original Ethereum chain.
However, it shares the principles and foundations established in the Ethereum whitepaper.
Annual evolution of the price of Ethereum Classic (ETC):
This is a list with the approximate price of ETC at the end of each year since its inception:
2016: $1.40
2017: $26.93
2018: $5.09
2019: $4.51
2020: $5.70
2021: $35.60
2022: $15.70
2023: $18.50
2024: $25.95 (as of November 20)
* The reality is that this crypto is the original Ethereum project, although after the incident, the market needs time to regain trust *
