Assets, Ethereum

How Is Ethereum Classic Doing?

Ethereum Classic is an open-source, decentralized computer platform that runs smart contracts. These are applications that run exactly as programmed without any possibility of fraud or third-party interference.

The Classic version of Ethereum is a continuation of the original Ethereum blockchain – the one that existed before theDAO hack in 2016. TheDAO was a decentralized autonomous organization built on top of the Ethereum platform that raised over $150 million in ether from investors.

However, theDAO was hacked and $50 million worth of ether was stolen.

The Ethereum community decided to hard fork the blockchain in order to refund the investors who lost their ether. This created two separate versions of Ethereum: Ethereum (ETH) and Ethereum Classic (ETC).

NOTE: WARNING: Ethereum Classic is an experimental cryptocurrency. You should not invest in Ethereum Classic unless you are prepared to take the risk of losing your entire investment. Investing in Ethereum Classic is highly speculative and involves significant risk. Be sure to do your research and consult with a qualified financial advisor before making any investments.

Ethereum Classic has continued to maintain the original vision of Ethereum as a decentralized platform that runs smart contracts. The team behind ETC believes that “code is law” and that immutable smart contracts should not be changed even if they are hacked.

The ETC community has been growing steadily since the hard fork. The price of ETC has also been on the rise, reaching a new all-time high in March 2021.

Despite its small size, Ethereum Classic is an important part of the cryptocurrency ecosystem. It is one of the few major projects that is not controlled by a single company or foundation.

This decentralization is key to its success and popularity.

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