Ethereum Classic (ETC) is the original Ethereum blockchain that maintains decentralized applications and smart contracts, distinct from Ethereum (ETH) in price and governance. This guide explores ETC's history, technology, and future outlook.
What Is Ethereum Classic (ETC)?
Ethereum Classic is the preserved version of the Ethereum blockchain post-2016 split, emphasizing decentralization, censorship resistance, and immutability.
History of Ethereum Classic
- 2016 Split: ETC emerged after the DAO hack, retaining the unaltered blockchain while ETH forked to reverse the hack’s effects.
Key Milestones:
- Listed on Poloniex, reaching 1/3 of ETH’s price.
- Published an "Independence Declaration," rejecting ETH Foundation collaboration.
- Stabilized post-DAO attack despite dumped stolen funds.
- Formed a dedicated development team.
Smart Contracts on ETC
Introduced by Nick Szabo in 1994, smart contracts automate agreements on ETC’s blockchain, enabling services like banking, insurance, and identity verification without intermediaries.
👉 Explore smart contract applications
Geth: ETC’s Command Tool
- Functionality: Runs full ETC nodes using Go, supporting mining, transfers, and smart contract management.
- Post-Split Updates: Over 40% of its code was rewritten post-fork.
Coin Supply & Sustainability
| Feature | ETC | ETH |
|------------------|---------------------------------------|---------------------------------------|
| Hard Cap | 210 million (by 2025) | No cap |
| Block Time | 10–14 seconds (~1¢ fees) | ~15 seconds |
| Inflation | Block rewards until 2025 | Continuous issuance |
ETC’s fixed supply enhances investment security by preventing value dilution.
ETC’s Market Performance
- All-Time High: Surged to $33 in March 2018 after policy updates.
- Consistent Ranking: Top 20 cryptocurrency by market cap.
Where to Buy and Store ETC
- Exchanges: Bittrex, Poloniex (BTC/ETH pairs), Bitfinex (USD).
Wallets:
- Emerald Wallet (desktop, in development).
- Jaxx (mobile).
- Ledger Nano S (hardware).
Future of Ethereum Classic
ETC focuses on:
- Decentralization: Upholding blockchain immutability.
- Adoption: Expanding smart contract use cases.
- Scalability: Optimizing transaction throughput.
FAQ
Q: Is ETC the same as ETH?
A: No. ETC is the original chain; ETH forked after the DAO hack.
Q: Why choose ETC over ETH?
A: ETC offers a fixed supply and ideological commitment to decentralization.
Q: How do I mine ETC?
A: Use Geth or compatible mining software with GPU/ASIC hardware.
Q: Is ETC secure?
A: Yes, with robust PoW consensus and active developer support.
Q: Can I convert ETC to ETH?