Ethereum Classic is one of the most popular blockchain-cryptoplasmcreated on the basis of smart contacts and has an open code. It is a Turing-complete virtual machine running in the public space. And cryptocurrency has become a Classic of Ether, also called "Classical Ether".
The project was created as a result of separation from Ethereum, as many users did not agree with some of the decisions of its leadership and investors. In fact, it is a complete fork of Ethereum, which has been refined through a number of innovative solutions.
Short designation introduced a new project crypto – currencies - ETC. As this project has a common base with Ethereum, initially, their work was conducted according to similar algorithm. But at the same time, it has a lot of differences and a more perfect protection from external influences.
The Ethereum classic quite quickly appeared on several major exchanges, which greatly strengthened his position. By the end of 2017 was produced almost a billion ETC. And their total market capitalization amounted to almost three billion dollars. The cost of one of the classical ether is relatively low – just over thirty USD for mid-December 2017.
The history of creation
When the Ethereum Foundation , headed by Vitaly Baleriny decided to run Ethereum on the basis of a new investment project called The DAO, many members of the community and its major investors were skeptical of this idea. The situation became more complicated after the fork was subject to the attack of the hackers that showed his poor security, unreliability and lack of stability in the work. The attack led to the collapse of The DAO and the collapse in the price itself the Ethereum. But buterin and his associates continued to bend the line.
In the end, one of the founders of a Foundation Ethereum, Gavin wood, made an open statement about the inadmissibility of further cooperation with former partners. He associates with a new improved defense mechanisms of the old platform, made adjustments to the EVM and made a new project, which became hardforum Ethereum. A new creation was named Ethereum Classic. It happened in the spring of 2017. Since then, the classical ether was a good example of a well-protected and versatile cryptocurrency. However, almost a year of its existence, it is relatively not grown in price.
At the end of the year, the project expects a substantial modification. But he already has the support of major investors and presented on a number of exchanges with the world (the first to your trading added the famous Poloniex). Also some of the largest pools allows for the extraction ETC.
Client programs for Ethereum Classic in many ways similar to applications that work with the usual Ethereum. But in their code, there are significant differences, aimed at strengthening the protection against external attacks and other negative influences.
Striving to create for the young platform employs several parallel development teams. One of them, EthCore, head of the Gavin wood, who was at the forefront of the emergence of Ethereum.
Advantages and disadvantages
Unlike ordinary "air", his hardwork much more protected from outside influence. Classic Ethereum is working on an improved platform, which was to the liking of many professionals. But until that classic air significantly inferior to its ancestor in market value.