How Long Has Ethereum Classic Been Around
Ethereum Classic is a decentralized platform that runs smart contracts: applications that run exactly as programmed without any possibility of 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.
The Ethereum Classic project started on July 20, 2016, as a result of the hard fork of the Ethereum blockchain. The hard fork was a result of the DAO hack where 3.6 million Ether was taken from the DAO smart contract. The Ethereum community could not come to a consensus on how to deal with the stolen funds, so a hard fork was proposed. The majority of the community decided to go with the fork that would return the stolen funds to the DAO. This fork is now known as Ethereum (ETH).
The minority of the community that did not agree with the hard fork decided to stick with the original Ethereum blockchain, which is now known as Ethereum Classic (ETC). Ethereum Classic is supported by a few exchanges and has a market cap of around $200 million.
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When did Ethereum Classic come out?
When Ethereum Classic (ETC) was created is a somewhat complicated question. The original Ethereum (ETH) blockchain was forked following a hack in June 2016, with the new ETC blockchain retaining the original Ethereum blockchain’s history and asset balance.
ETC was not officially launched until July 2016, however, with a genesis block being mined on July 20. The project was announced on July 19, with an initial coin offering (ICO) being held from July 20 to August 3.
ETC has been described as a “parallel blockchain” to ETH, with the two blockchains sharing the same history but having different rulesets. While ETH has been focused on becoming a “world computer”, ETC has been more focused on becoming a “digital currency”.
Does Ethereum Classic have a future?
What is Ethereum Classic?
Ethereum Classic is a decentralized platform that runs smart contracts: applications that run exactly as programmed without any possibility of 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.
Why Does Ethereum Classic Exist?
The hard fork that created Ethereum Classic was a result of the DAO hack. Because a large amount of ether was stolen, the Ethereum Foundation decided to hard fork the blockchain in order to get the funds back.
However, some members of the Ethereum community disagreed with this decision. They felt that the Foundation shouldn’t be able to make unilateral decisions about the future of the blockchain and that the stolen funds should be returned to their original owners.
As a result, Ethereum Classic was created – a blockchain that continued without the hard fork.
What is the Future of Ethereum Classic?
There is no one definitive answer to this question.
Ethereum Classic does have some advantages over Ethereum. For example, it is more decentralized and has a longer history.
However, Ethereum has a larger community and more developer support. It also has a more developed infrastructure.
Ultimately, it is up to the individual users to decide which platform they prefer.
What came first ETH or ETH Classic?
What came first, Ethereum (ETH) or Ethereum Classic (ETC)?
The answer to this question is a little complicated.
Ethereum (ETH) was initially released in July 2015, while Ethereum Classic (ETC) was created in response to the Ethereum (ETH) fork in 2016.
Ethereum (ETH) is the original Ethereum blockchain, while Ethereum Classic (ETC) is a hard fork of Ethereum (ETH).
In simple terms, Ethereum (ETH) is the original Ethereum blockchain, while Ethereum Classic (ETC) is a copy of Ethereum (ETH) that split off after the DAO hack.
So, which came first, ETH or ETC?
Technically, Ethereum (ETH) came first, but Ethereum Classic (ETC) is a separate blockchain that was created in response to the Ethereum (ETH) fork.
Is it worth keeping Ethereum Classic?
In July 2016, a rift in the Ethereum community led to the establishment of two separate blockchains – Ethereum and Ethereum Classic. While Ethereum continues to be the more popular of the two, Ethereum Classic has its loyal supporters. So, is it worth keeping Ethereum Classic?
The key difference between Ethereum and Ethereum Classic is that, while Ethereum is a platform that allows for the development of decentralized applications, Ethereum Classic is a blockchain-based platform that preserves the original Ethereum code.
Supporters of Ethereum Classic believe that the platform represents the true spirit of Ethereum, as it is based on the principle of immutability – that is, the belief that code should not be changed once it has been deployed. They also believe that Ethereum Classic is more resistant to censorship than Ethereum.
However, critics of Ethereum Classic argue that the platform is less developed than Ethereum and that it has less of a community than Ethereum. They also argue that the principle of immutability can be taken too far, as it can lead to the development of applications that are difficult to change or upgrade.
Ultimately, whether or not Ethereum Classic is worth keeping is a matter of opinion. However, it is worth noting that Ethereum Classic does have some advantages over Ethereum, such as its resistance to censorship.
Where will Ethereum Classic be in 5 years?
Where will Ethereum Classic be in 5 years?
This is a difficult question to answer, as Ethereum Classic is a relatively new blockchain platform. It is possible that it will continue to grow in popularity and be used by more businesses and organisations. Alternatively, it may become overshadowed by other platforms such as Ethereum. Only time will tell!
Why is Ethereum Classic so cheap?
Ethereum Classic is a decentralized platform that runs smart contracts: applications that run exactly as programmed without any possibility of 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.
Ethereum Classic is currently trading at around $4.50, which is significantly cheaper than the $190 price of Ethereum.
There are several reasons for Ethereum Classic’s low price.
First, Ethereum Classic has a much smaller community than Ethereum. This means that there is less demand for Ethereum Classic, which drives down the price.
Second, Ethereum Classic has been plagued by a series of hacks and scams. This has made investors wary of investing in Ethereum Classic, which drives down the price.
Third, Ethereum Classic has been slower to adopt new updates and features. This means that there is less development activity around Ethereum Classic, which drives down the price.
Fourth, Ethereum Classic has been less successful than Ethereum in terms of attracting companies and developers to build on its platform. This means that there is less activity around Ethereum Classic, which drives down the price.
However, there are also several reasons why Ethereum Classic may be a good investment in the long term.
First, Ethereum Classic has been much more stable than Ethereum. This makes it a safer investment for long-term holders.
Second, Ethereum Classic has a more decentralized network than Ethereum. This means that it is less likely to experience network congestion and downtime.
Third, Ethereum Classic has a more diverse community than Ethereum. This means that it is less likely to experience a split in the community and subsequent hard fork.
Fourth, Ethereum Classic is more resistant to censorship than Ethereum. This makes it a better choice for companies and developers who want to build applications that are not subject to government control.
Overall, Ethereum Classic is a good investment in the long term. Although it is currently trading at a lower price than Ethereum, it has many advantages over Ethereum that could make it a more successful platform in the future.
Can Ethereum Classic reach $10000?
It is possible that Ethereum Classic could reach a price of $10000. This is because the Ethereum Classic blockchain has a number of features that could make it appealing to businesses and individuals. For example, Ethereum Classic has a very low transaction fee, which could make it a more affordable option for businesses. Additionally, Ethereum Classic is censorship-resistant, meaning that it is difficult to shut down. This could make it an appealing option for businesses that want to ensure that their data is stored securely. Finally, Ethereum Classic is a deflationary currency, meaning that its supply is limited. This could lead to a higher price for Ethereum Classic in the future.
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