ETC News

Ethereum Classic ETC $18.29 24h volatility: 0.2% Market cap: $2.73 B Vol. 24h: $91.39 M is the first version of the Ethereum ETC $18.29 24h volatility: 0.2% Market cap: $2.73 B Vol. 24h: $91.39 M blockchain. The establishment of Ethereum Classic as a different blockchain happened because of a hack executed against The DAO, a venture capital fund built on Ethereum. After a vulnerability was exploited in 2016, The DAO lost $50 million worth of Ether tokens. The blockchain was then forked to erase the theft, creating the popular Ethereum known today. However, community members who prioritize blockchain’s immutability preferred to maintain the original Ethereum Classic.

The ETC blockchain and its community have focused heavily on preserving the original version and ensuring it remains permanent and unaltered. Ethereum Classic shares features with Ethereum, including support for decentralized applications (dApps) and smart contracts. Nonetheless, Ethereum Classic emphasizes immutability, which makes the network a compelling option for users and developers who prioritize tamper-proof data recording.

Ethereum Classic news reveals the blockchain’s dedication to decentralized computing. Although it functions as a payment system, the ETC blockchain is more notable as a distributed computing platform powered by blockchain technology.

Ethereum Classic also differs from Ethereum as it maintains the proof of work (PoW) consensus mechanism instead of moving to proof of stake (PoS). Although a lot less popular than Ethereum, Ethereum Classic remains a foundation for members of the crypto community who believe in the original fundamentals of blockchain technology, including immutability and decentralization.