Hi, everyone! Today we're going to talk about Ethereum Classic (ETC), a blockchain project of historical significance in the cryptocurrency world. Ethereum Classic was born when Ethereum split due to a hard fork event, and inherits the spirit of "tamper-proof" blockchain. It has unique technical features and plays an important role in the decentralized application (dApp) space. If you want to learn about the origins of ETC, its technical architecture, and its place in today's market, then this article is just for you!
The Origins of Ether Classic: DAO Events and Hard Forks
The birth of Ether Classic is closely related to the "DAO Incident" in 2016, when the Ether community launched a decentralized autonomous organization called DAO. At that time, the Ether community launched a decentralized autonomous organization called DAO, but due to a smart contract vulnerability, hackers stole about 3.6 million ETH, and in order to make up for the loss, Ether decided to carry out a hard fork to return the stolen assets to the original holders. Some members of the community felt that this violated the spirit of blockchain's "immutability" and chose to keep the original chain running, which became the Ether Classic (ETC).
Core Concept: The Spirit of the Untamperable Blockchain
Ether Classic adheres to the philosophy that "code is law" and refuses to make any changes motivated by morality or profit. This insistence has allowed the ETC community to be smaller than Ether, but it holds a special place among certain blockchain enthusiasts.
Ether Classic's Technical Architecture and Consensus Mechanisms
EtherClassic's technical architecture is very similar to that of EtherChannel, with an account-based model that supports smart contracts and dApp development. The core consensus mechanism is Proof of Work (PoW)The first is similar to Bitcoin in that transaction verification and block packing is done through miners.
List of Technical Features
| Technical Characteristics | Description |
|------|--- ---------- |
| PoW, Miners Mining to Ensure Network Security | PoW, Miners Mining to Ensure Network Security | PoW, Miners Mining to Ensure Network Security
| Smart Contract Support | Ethereum Virtual Machine (EVM) | Ethernet Compatible
| Block Time | Approx. 13 sec.
| Maximum Supply | 210 Million with Shrinkage
These technical features give ETC a certain degree of security and application value, but it is also gradually facing competition from PoS projects due to the high energy consumption of the PoW mechanism.
Positioning of ETC in the market and application scenarios
Ether Classics are currently used in the following scenarios:
- Smart Contract and dApp Development: ETC is compatible with Ethernet's EVM, so developers can easily port applications on Ethernet.
- Storage of Value: ETCs are available in limited quantities, attracting some investors who see them as a store of value.
- Enterprise Applications: ETC's decentralized nature is suitable for enterprise applications that require highly secure records, such as supply chain management and financial systems.
ETC's market capitalization and user base are still relatively small compared to Ether's, which makes it slightly weaker in the competition.
Challenges and Future Prospects of Ether Classics
The main challenges facing EtherClassic include:
- 51% Attack Risk: ETC has been attacked several times in the past due to its low network-wide arithmetic power, which has damaged its security reputation.
- Insufficient development resources: The limited size of ETC's developer community compared to Ether has affected the pace of technological advancement.
- Insufficient market attention: With Ethernet moving to PoS, ETC needs to find a clearer market niche.
Nevertheless, ETC retains some potential, especially among user groups that advocate tamperability and complete decentralization. With enhanced network security and expanded application scenarios, its future development is still worth looking forward to.
How to buy and manage ETC?
The steps for purchasing an ETC are actually very simple, and the following are specific instructions:
- Select ExchangeOKX is recommended, as it supports a variety of trading methods and offers a wide range of rebates.
- Register and complete authentication: Provide the necessary documentation in accordance with the Platform's instructions.
- Recharge Funds: Select fiat currency or cryptocurrency to top up your account.
- Buy ETC: Enter the cash market and select the ETC/USDT pair to place your order.
After completing your purchase, remember to withdraw your ETCs to a secure wallet and avoid storing them on the exchange.
Frequently Asked Questions Q&A
1. What is the difference between ETC and ETH?
ETC is the original chain of Ether, which insists on the concept of tampering, while ETH is the chain after the hard fork, which has a larger ecosystem and developer support.
2. Is ETC a suitable long-term investment?
ETC has a limited supply with deflationary characteristics, but due to limited development resources, its technological progress and market dynamics need to be carefully observed.
3. How can I store my ETC safely?
It is recommended to use a hardware wallet (such as Ledger or Trezor) for storage to minimize the risk of hacking.
I hope this article has helped you to fully understand the history of the Etheric Classics, so keep checking back for more from Mike!
English 
Chinese