What is Ethereum Classic (ETC)?

Deep Dive

1. Origin & Philosophy

Ethereum Classic emerged in 2016 after Ethereum’s community split over reversing the DAO hack, which drained $50M. While Ethereum (ETH) forked to refund users, ETC retained the original chain, asserting that blockchains must remain immutable even in crises. This decision cemented its philosophy: transactions, once confirmed, are irreversible.

2. Technology & Architecture

• Consensus: Relies on Proof of Work (PoW) like Bitcoin, requiring miners to solve cryptographic puzzles to validate blocks. This ensures decentralization but limits scalability.
• Smart Contracts: Supports decentralized apps (dApps) via the Ethereum Virtual Machine (EVM) and Solidity programming language.
• Tokenomics: Fixed supply of 210.7M ETC, with a Bitcoin-like halving mechanism every ~2.5 years to curb inflation.

3. Key Differentiators vs. Ethereum (ETH)

• No Transition to Proof of Stake: ETC rejects Ethereum’s 2022 shift to PoS, arguing PoW is more decentralized and resistant to regulatory capture.
• Censorship Resistance: Miners can’t exclude transactions based on external rules (e.g., sanctions), unlike PoS validators.
• Predictable Monetary Policy: Unlike ETH’s variable issuance, ETC’s capped supply aligns with Bitcoin’s “hard money” ethos.

Conclusion

Ethereum Classic is a purist blockchain valuing immutability and PoW’s security trade-offs over scalability trends. While its ecosystem lags behind Ethereum in adoption, ETC’s principles attract developers and users prioritizing unstoppable code and decentralized mining.

Could Ethereum Classic’s rigid adherence to PoW become its greatest strength—or a barrier to competing in a multi-chain future?