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Ethereum Classic

(ETC)

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Ethereum Classic Desc

Ethereum Classic (ETC) Introduction

- **Basic Overview**: Ethereum Classic (ETC) is a decentralized blockchain platform dedicated to upholding the core principle of blockchain technology, namely 'Code is Law.' It originated from a hard fork of Ethereum (ETH) in 2016, preserving the original Ethereum blockchain state and rejecting the rollback of funds lost due to a hacking incident. ETC aims to provide an immutable, decentralized smart contract platform, blending Ethereum's technological strengths with Bitcoin's philosophical ideals.
- **Technical Architecture**: ETC operates on the Ethereum Virtual Machine (EVM), supporting Turing-complete smart contracts and decentralized applications (DApps). It employs a Proof of Work (PoW) consensus mechanism to ensure network security and decentralization. ETC's native token, Ether (ETC), is used to pay for transaction fees and reward miners.
- **Core Features**: ETC emphasizes decentralization and censorship resistance, rejecting external interference or control by special interest groups. Similar to Bitcoin, it follows a fixed monetary policy with an algorithmic supply mechanism, aiming to serve as a long-term stable store of value and smart contract platform.
- **Development Challenges**: ETC faces key challenges such as scalability, blockchain bloat, and backward compatibility. In the future, ETC plans to enhance scalability through Layer 2 solutions, address compatibility with account versioning and EVM versioning, and tackle bloat through client efficiency and data structure improvements.
- **Market Positioning**: ETC positions itself as a foundational layer for smart contracts, focusing on security and decentralization, appealing to developers and users who value blockchain's original principles. Compared to Ethereum, ETC prioritizes stability over rapid innovation.
- **Community and Vision**: The ETC community demonstrates strong loyalty to the principles of decentralization and censorship resistance, committed to realizing Ethereum's initial vision of building an unstoppable application platform. Looking ahead, ETC aims to establish itself as a secure and reliable infrastructure for smart contracts in the blockchain space.
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