Ethereum classic is a block chain based crypto currency and smart contract platform.
What is Ethereum classic?
Ethereum classic is an open source block chain based smart contract platform and crypto currency.
Ethereum classic focus on smart contract protocols that allows people to exchange money, asset or digital collections in a decentralized way
In this decentralized method no middle man is needed and any one can trade digital goods for value thru this platform.
How Ethereum classic was born?
Ethereum classic was created by a group of developers which came to existence in july 20, 2016
However, Vitalik Buterian a russian /canadian programmer founder of Ethereum wrote the whitepaper of Ethereum classic.
Ethereum and ethereum classic both were same at first but a disagreement between developers of both projects separated them and Ethereum classic was born.
In May 2016 a vulnerability was discovered in the structure of a venture capital built on ethereum which cause the venture to loss over $50 million in asset.
This caused both community of developers to split between two projects thru a hardfork and finally ethereum classic was born
How Ethereum classic are produced?
Ethereum classic is a proof of work crypto currency. It uses the PoPow ( proof of work) consensus.
Coins are produced by using proof of work (pos) consensus which mines the coin using computer power.
Ethereum classic has a total supply of 210 million and circulating supply of 120 million.
How does Ethereum classic works?
Ethereum classic is a smart contracts platform where people can trade digital products in a decentralized way.
Ethereum classic uses ETC as a active payment method in the block chain.
ETC is used as gas to provide metrics for the cost of work in the block chain to complete transaction.
Ethereum shares the same features as Ethereum classic broadly.
What can you do with Ethereum classic?
Ethereum classic works as fuel for the ethereum classic blockchain network.
It works as a store of value and also can be used as a payment method and can be traded for other crypto currency thru exchanges.
Future of Ethereum classic?
After the birth of Ethereum classic and hard fork of Ethereum it took all the important influencer along with it.
It took away Enterprise Ethereum alliance which is a company backed by microsoft who wants to increase adoption of Ethereum.
After the battle of communities and developers hard fork and all Ethereum came out as winner leaving Ethereum classic with scars.
It lead all the investment, developers, popularity and value to Ethereum leaving Ethereum classic behind.
However, Ethereum classic has an active community and recently joined enterprise ethereum alliance.
Recently Ethereum classic completed the building and development of side chains which Ethereum still experimenting on.
Ethereum classic is also actively creating more sophisticated coding languages in form of the Emerald Project.
Ethereum classic is still the underdog and underrated but with a active community it still have bright future ahead.
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