Ethereum Classic (ETC)
As a crypto Ethereum coin is very popular and one of our favorite coins. Ethereum and Ethereum Classic are quite popular as both of them offer smart contracts. We all know that currently Ethereum's ETH is second only to Bitcoin as the most valuable cryptocurrency network in the world. Maybe Ethereum Classic (ETC) is less known to many of us than that. Anyway, it is a smart contract based platform that helps run smart contracts. It is an open source, decentralized, blockchain-based distributed cryptocurrency platform. This came about when The DAO was hacked. It was created in 2016. It is a platform that is a decentralized autonomous organization. And also it uses smart contracts operated on the Ethereum blockchain. It is blockchain based. Its original blockchain was split into two parts. When the decentralized autonomous organization was hacked most users chose to reverse the hack and return the stolen funds.
This greatly divided users, especially within the Ethereum community. But based on a policy at the time, developers and miners believed that investors in the DAO should suffer the consequences of investing in a flawed project. At that time their policy was "Code is Law". However, the emergence of this platform at the time created confidence and the majority of the Ethereum community decided to bring back the blockchain. And at the same time it effectively created a bailout for the DAO's investors.
Ethereum Classic is a blockchain platform designed to be similar to Bitcoin. Bitcoin is slightly different from blockchain and in this case it differs in that in addition to recording transactions of its value, it can execute self-executing smart contracts and for this it can also be used as a distributed computer. Even Ethereum Classic facilitates smart contracts. It facilitates smart contracts as well as automates actions through blockchain. This is a very interesting and effective method. For example, if you sell an item to someone else for a certain price and agree to sell, the smart contract will automatically transfer payment and ownership. Even then it will remove all the binding obligations and create trust between the parties.
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Nice information you have shared on Ethereum classic, good to see it was initially designed to be like Bitcoin. Great content from you.
Thanks for reading
My experience with Ethereum Classic is that it's a very old coin that is currently not well cared for and that's why it's so down.
Thanks for your feedback