Ethereum Classic is the original version of Ethereum; the new “Ethereum” is a fork of this original version. The split happened when a decentralized autonomous organization built on top of the original Ethereum was hacked. “The DAO,” as this organization was called, acted as a venture capital fund for future distributed applications that would be built on top of Ethereum.
One hacker took advantage of a loophole in the Ethereum code that allowed him to siphon a third of this organization’s money (around $50 million at the time). As a solution, the Ethereum developers proposed doing a “hard fork” that would be incompatible with the previous version and would be able to deny the hacker the funds that he stole.
However, not everyone switched over to the “new” Ethereum fork because they still believed in Ethereum’s original promise of standing against financial corruption and changes to the network based on a human’s whim. To them, this is what the new Ethereum became when the developers decided to essentially “bail out” the DAO and saved it from the hacker by forking the entire platform.
Therefore, those who preferred the more immutable nature of the original Ethereum decided to stick to Ethereum Classic. As such, it has remained one of the top 10 cryptocurrencies.
Name: Ethereum Classic
Max Supply: –
Circulating Supply: 106,554,079
Total Supply: 106,554,079
Cryptographic Algorithm: Ethash
Issue Date : 2015-11-01
Source Code: https://github.com/ethereumclassic
Issue Price: –
White Paper: EN
Consensus Protocol: POW
Explorer 1: http://gastracker.io/
Explorer 2: http://etherhub.io/
Explorer 3: https://blockscout.com/etc/mainnet/
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