Ethereum Classic
Ethereum ClassicName
Ethereum Classic
Summary
Ethereum Classic (ETC) was hard fork out of Ethereum (ETH) on July 2016.
-Ethereum Classic is the legacy chain of Ethereum, and its genuine creators are Vitalik Buterin and Gavin Wood, the original Ethereum developers.
-The primary goal of Ethereum Classic is to keep the Ethereum blockchain as it was before the DAO breach without actively counteracting it.
Rating
Symbol
ETC
Overview
Ethereum Classic (ETC) is a hard fork of Ethereum (ETH). Its primary purpose is to serve as a smart contract network that can host and support decentralized apps (DApps). ETC is the native token.
Since its inception, Ethereum Classic has worked to set itself apart from Ethereum, with the two networks' technological roadmaps diverging more and more over time.
The Ethereum Classic network was created as a network that did not revert the chain. According to the developers, the project has no "official" team, and its "global development community is a permissionless 'do-democracy,' where everyone can join."
Historical Price Movement (in INR)
Technology
The Ethereum Classic network is protected by proof-of-work, but being a minority chain, it has been subjected to attacks regularly. The primary goal of Ethereum Classic is to keep the Ethereum blockchain as it was before the DAO breach without actively counteracting it.
The legacy network's appeal was first directed at individuals who disagreed with Ethereum's answer. Still, it has attracted a wider following, including big investors like Barry Silbert, CEO of investment firm Grayscale.
Unlike Ethereum, Ethereum Classic has no intentions to switch to a proof-of-stake (PoS) mining process, and numerous developers are still working on future enhancements, including scaling solutions.
Token Allocation
ETC employs a PoW mining process, similar to Bitcoin, in which miners are rewarded with new coins in exchange for competitively validating the blockchain. The ETC block payment declines over time, with the next dip expected around April 2022, when the payout drops from 3.2 ETC to 2.56 ETC per block.
Volume (23rd April 2022)
$490,487,859
Total Supply
210700000
Circulating supply
134,386,195.90 ETC
Crowd Sales
NA
Funding
NA
Country
USA
Name of Organization
ETC cooperative INC
Year Incorporated
2017
Registered Address
ETC Labs in San Francisco, CA, USA and Singapore, IOHK in Hong Kong
Dispute Resolution and Governing Law
USA
Country Risk Assessment
A1
Founding Team
| Name | Designation | Education | Experience |
| Vitalik Buterin | Founder | The University of Waterloo, Computer Science (Dropped Out) | 8 Yrs |
| Gavin Wood | Co-Founder | University of York:Master of Engineering (MEng), Computer Systems/Software EngineeringUniversity of York:Doctor of Philosophy (Ph.D.), Music Visualisation for Human-Computer Interfacing | 20 Yrs |
