Ethereum Classic is a type of cryptocurrency that operates on a decentralized platform. It is a continuation of the original Ethereum blockchain after a hard fork occurred due to a hacking incident in 2016.
The main difference between Ethereum and Ethereum Classic lies in how they handled the hacking incident. Following the hack, Ethereum underwent a hard fork to reverse the transactions and restore the stolen funds. However, some members of the community disagreed with this decision and continued to operate on the original blockchain, which became known as Ethereum Classic.
Ethereum Classic uses smart contracts to execute transactions on its platform, similar to its counterpart Ethereum. It aims to provide a secure and decentralized way to conduct transactions without the need for intermediaries.
Overall, Ethereum Classic is a cryptocurrency that offers a different approach to blockchain technology and serves as an alternative to Ethereum for those who value immutability and decentralization in their transactions.
