Ethereum Classic is a decentralized platform that runs smart contracts: applications that run exactly as programmed without any possibility of downtime, censorship, fraud or third party interference.Ethereum Classic is a continuation of the original Ethereum blockchain - the classic version preserving untampered history; free from external interference and subjective tampering of transactions. It was formed after a DAO attack which siphoned 15% of all available ether, through a coding bug. The Ethereum Foundation then rolled back the blockchain to prevent the attack. However, many Ethereum participants disagreed with this action, citing the cryptocurrency’s motto that ‘Code is law’. The participants that disagreed create a hard fork of the cryptocurrency known now as Ethereum Classic, which preserved the DAO attack.
Network neutrality means that transactions are always final, no developer-led rollbacks or history changes
Decentralized governance improves token stability and quality by relying on meritocracy instead of centralized bureaucracy for decision making
Maintains all ETH innovations and enhancements for improving chain technology
ETC runs on the original Ethereum blockchain, allowing all the same functionality such as smart contracts and dApps. ETC is the token used to manage network space, while gas is used to execute smart contracts on Ethereum virtual machines. It functions on the principle of Code is Law, meaning that the network will honor whatever code is written and run, with no rollbacks or forks.
