Ethereum Classic is not new to cryptocurrency world. To a certain extent, Ethereum Classic is one that is an outcome of the split of a prevalent cryptocurrency, Ethereum. Identical to Ethereum, it is a safe, reliable, censor-proof, public, trustless, as well as a decentralized platform for running applications along with smart contracts. ETC supporters are inclined to traditionalists who argue it’s the true Ethereum as detractors claim it’s a less significant or else inferior edition of the protocol. Both blockchains were indistinguishable in each gradient until block 1920000. But subsequent to that the whole thing changed. A smart contract in 2016, on Ethereum, was hacked. This incident split community attitude as well as resulted in one of the most important splits in the blockchain community so far. This splitting was over the physical constraints of how to address the thievery of funds that took place in the event. But eventually, it took on a number of deeper theoretical as well as decent shades too.
The only problem with this vote was that consent was not 100%. There was a small set of rebels who opposed the majority. They assumed that code is law, as well as that blockchain, shouldn’t be changed, though the majority is in support of doing so. This particular set of people took their own action.
When Ethereum rolled back in the past, the rebels sustained to mine as well as extend the innovative blockchain. While these groups require the majority, this innovative chain became known as Ethereum Classic. Their website quotes as, “the standard version is preserving unhampered history; free from external intrusion and one-sided tampering of transactions”.
The group behind Ethereum Classic rapidly organized plus published their declaration of independence. They also stated that their estimation that the Ethereum Foundation’s managing of the DAO hack was culpable as well as also projected an idea for the future. It should be noted that keeping this version of Ethereum running was never a small task. A community hub was needed, supporters had to rally together, dedicated ETC mining pools had to be created, and there was a need for exchanges to pick up ETC.
But in the end, all of these things were accomplished. As we enter 2018, the team that survived this tumultuous history has an aggressive roadmap before them.
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