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Is Ethereum Classic Proof of Work?

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 a public, open-source, blockchain-based distributed computing platform featuring smart contract (scripting) functionality. It provides a decentralized Turing-complete virtual machine, the Ethereum Virtual Machine (EVM), which can execute scripts using an international network of public nodes.

Ethereum Classic also offers a value token called “Classic Ether”, which can be transferred between participants, stored in a cryptocurrency wallet and is used to compensate participant nodes for computations performed.

The native cryptocurrency of the Ethereum Classic platform is called “Classic Ether”, with a ticker symbol “ETC”. It was created through a hard fork of the Ethereum blockchain on July 20, 2016.

NOTE: WARNING: Ethereum Classic is a proof-of-work blockchain, but it is not the same as Bitcoin. It has its own unique set of rules and protocols, and miners must be aware of these before engaging in mining activities. There is a risk that miners may be unknowingly participating in an attack against the network or committing errors that could lead to their own financial losses.

The hard fork occurred as a result of the DAO hack, in which ether funds were stolen from the DAO, an organization that had raised over US$150 million to build decentralized applications on the Ethereum platform.

The fork resulted in two separate blockchains: Ethereum and Ethereum Classic, with each having its own currency. While both blockchains are identical in every respect up to the block where the fork occurred, they diverge thereafter.

As a result, all tokens and addresses on the Ethereum Classic blockchain are different from those on the Ethereum blockchain.

Ethereum Classic is an important part of digital history. It’s a permanent record of immutability and resistance to censorship or manipulation.

By keeping the original vision alive, we ensure that “Code is Law” remains true for all time.

In conclusion, yes, Ethereum classic is proof of work!.

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