What is Ethereum Classic (ETC)?

Deep Dive

1. Purpose & Value Proposition

Ethereum Classic emerged from a philosophical divide after Ethereum’s 2016 hard fork reversed a $60M hack. ETC’s community rejected intervention, cementing blockchain immutability as a core tenet. This positions it as a trust-minimized base layer for high-value settlements and unstoppable applications, appealing to users prioritizing censorship resistance over frequent upgrades.

2. Technology & Architecture

ETC retains Ethereum’s original technical framework:
- Ethereum Virtual Machine (EVM): Executes smart contracts via a decentralized network of nodes.
- Gas System: Users pay transaction fees in ETC to prevent spam and compensate miners.
- 15-Second Block Times: Balances speed with network stability.
Unlike Ethereum’s shift to Proof of Stake (PoS), ETC remains PoW, arguing this better resists centralized control.

3. Key Differentiators vs. Ethereum

• Consensus: PoW vs. PoS – ETC miners aren’t subject to financial regulations affecting ETH validators.
• Monetary Policy: Fixed supply (like Bitcoin) vs. Ethereum’s dynamic issuance.
• Governance: Minimal protocol changes vs. Ethereum’s frequent upgrades (e.g., EIP-1559, The Merge).

Conclusion

Ethereum Classic is Ethereum’s ideological fork – a PoW smart contract platform prioritizing immutability and Nakamoto Consensus. Its fixed supply and resistance to protocol changes make it a niche but philosophically distinct player. Could ETC’s focus on decentralization position it as a "digital gold" for programmable value in an increasingly regulated crypto landscape?