What is the historical background of Ethereum Classic and how does it relate to Ethereum?

3 answers

• Dec 20, 2021 · 3 years ago
  Ethereum Classic (ETC) is a cryptocurrency that emerged as a result of a hard fork from the original Ethereum blockchain. The fork occurred in July 2016 after the infamous DAO hack, where millions of dollars worth of Ether were stolen. The Ethereum community was divided on how to handle the situation, with some advocating for a rollback of the blockchain to recover the stolen funds, while others believed in the immutability of the blockchain. Those who believed in immutability continued to support the original Ethereum blockchain, which became Ethereum Classic. Ethereum Classic maintains the original principles of decentralization and immutability, while Ethereum (ETH) moved forward with the rollback and implemented various upgrades and improvements. Although they share a common history, Ethereum Classic and Ethereum are now separate and independent cryptocurrencies, each with its own community and development roadmap.
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• Dec 20, 2021 · 3 years ago
  Ethereum Classic and Ethereum have a shared historical background but have diverged in terms of their development and community support. Ethereum Classic emerged as a result of a hard fork from Ethereum after the DAO hack. The split occurred due to differing opinions on how to handle the stolen funds. Ethereum Classic supporters believe in the immutability of the blockchain and chose to continue with the original Ethereum blockchain. On the other hand, Ethereum implemented a rollback to recover the stolen funds and has since undergone various upgrades and improvements. While both cryptocurrencies have their own communities and development paths, they share a common origin and are built on similar principles of decentralization and smart contracts.
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• Dec 20, 2021 · 3 years ago
  Ah, Ethereum Classic and Ethereum, two siblings born from the same blockchain. Ethereum Classic, or ETC, came into existence after a hard fork from Ethereum in 2016. The fork happened because of a major hack that rocked the Ethereum community. Some folks wanted to reverse the hack and get the stolen funds back, while others believed that the blockchain should remain immutable. Those who stood for immutability stuck with the original Ethereum chain, which became Ethereum Classic. Ethereum, on the other hand, decided to roll back the chain and implement some changes. So now we have two separate cryptocurrencies, each with its own set of fans and development plans. It's like a family reunion, but with digital money!
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