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Ethereum Classic
About Ethereum Classic
Ethereum Classic (ETC) is a decentralized, open-source blockchain platform that uses proof-of-work consensus to execute and store smart contracts and dApps. It was created in July 2016 by a group of developers and users who opposed the Ethereum Foundation's decision to hard fork the Ethereum blockchain in response to the "DAO hack." ETC is used for a variety of purposes, including creating dApps and issuing tokens, and has a strong focus on immutability and censorship-resistance. It is led by a team of developers and supported by a global community of users and organizations.
Ethereum Classic (ETC) is a decentralized, open-source blockchain platform that uses a proof-of-work (PoW) consensus algorithm to enable users to securely and immutably execute and store smart contracts and decentralized applications (dApps). These smart contracts are written in a high-level programming language called Solidity and are executed by the Ethereum Virtual Machine (EVM), which is a decentralized, Turing-complete virtual machine that runs on the Ethereum Classic network.
Ethereum Classic is used for a wide variety of purposes, including the creation of decentralized applications (dApps) and the issuance of tokens, which can represent a variety of assets such as virtual currency, utility tokens, security tokens, and non-fungible tokens (NFTs). ETC is also used as a means of exchange, like traditional currencies, and can be bought, sold, and traded on cryptocurrency exchanges. In addition, Ethereum Classic has a strong focus on immutability and censorship-resistance, which has made it a popular choice for projects that require a secure and decentralized platform.