Ethereum Classic ETC

 

Ethereum Classic ETC

• Ethereum's Hard Fork was proposed as a response to the 2016 "The DAO" hacking incident. Several actors in the Ethereum community refused to accept it and declared that they would follow the original Ethereum chain, making the original chain Ethereum Classic (ETC) and the hard fork chain Ethereum (ETH). The Ethereum Classic network is operated by a digital asset called Ethereum Classic Tokens (ETC).

 

UPbit

 

First issue	2015.07.	Total issue limit	210,700,000
market capitalization		Current Distribution
As of March 23, 2024 (Courtesy of Coin Market Cap)	￦ 5.9 Trillion	As of March 23, 2024 (Courtesy of Coin Market Cap)	146,177,888
As of March 23, 2024 (Courtesy of CoinGecko)	￦ 5.9 Trillion	As of March 23, 2024 (Courtesy of CoinGecko)	146,177,888

 

 

Characteristics

1. It uses the consensus algorithm of Proof of Work (PoW), and while current Ethereum classical supporters adhere to it, it has the disadvantage that its computational processing power is slow compared to consensus algorithms.
2. Ethereum Classic uses an account-based model as a transaction recording method, which saves storage space and simplifies the Dapp development method. It also has the advantage of increasing the possibility of being incorporated into a centralized blacklist by increasing the possibility of substitution between accounts.

 

Vision

• Ethereum Classic is operating its network through proof-of-work methods, despite Ethereum's transition to Proof of Stake (PoS). In the future, Ethereum Classic wants to expand its mainnet ecosystem based on its own community.