Ethereum Classic(ETC) is a forked version of the Ethereum blockchain that emerged as a result of the DAO (Decentralized Autonomous Organization) attack in 2016. It maintains the pre-fork blockchain history and utilizes the same blockchain technology as Ethereum, including smart contract functionality and a virtual machine. It employs the Proof-of-Work (PoW) consensus mechanism to validate transactions and safeguard network security, while emphasizing decentralization, resistance to censorship, and smart contract capabilities. ETC is compatible with the smart contract development language and tools of Ethereum, enabling developers to easily migrate existing Ethereum smart contracts to ETC or create new applications.
ETC was created by members of the Ethereum community who believed that Ethereum violated the blockchain's decentralization principles in rolling back The DAO hack. The founding team of ETC believes that the blockchain should be immutable and that any hacking should be at the user's own risk.
Above are only for introduction, not intended as investment advice.
Explore the tokenomics of Ethereum Classic (ETC) and review the project details below.
What is the allocation for Ethereum Classic (ETC)?
According to whitepaper, ETC has no pre-defined allocation. Miners who verify new blocks through proof of work receive newly minted ETC rewards.
What is the supply schedule for Ethereum Classic (ETC)?
The supply of ETC is limited. In December 2017, the ETC Foundation voted to limit the maximum supply of ETC to 210,700,000 ETC. ETC has a fixed emission curve. The ETC block reward decreases every 2 years, with the next drop due at block 25,000,000, roughly in May 2024 — from 2.56 ETC to 2.048 ETC per block. To view real-time updates on token information, you can visit https://etc.blockscout.com/stats
Ethereum Classic(ETC) is a forked version of the Ethereum blockchain that emerged as a result of the DAO (Decentralized Autonomous Organization) attack in 2016. It maintains the pre-fork blockchain history and utilizes the same blockchain technology as Ethereum, including smart contract functionality and a virtual machine. It employs the Proof-of-Work (PoW) consensus mechanism to validate transactions and safeguard network security, while emphasizing decentralization, resistance to censorship, and smart contract capabilities. ETC is compatible with the smart contract development language and tools of Ethereum, enabling developers to easily migrate existing Ethereum smart contracts to ETC or create new applications.
ETC was created by members of the Ethereum community who believed that Ethereum violated the blockchain's decentralization principles in rolling back The DAO hack. The founding team of ETC believes that the blockchain should be immutable and that any hacking should be at the user's own risk.
Above are only for introduction, not intended as investment advice.