Ethereum Classic (ETC): A Brief History — Should I Invest?? [Bitcoin, Altcoin, Cryptocurrency}
Welcome to the Crypto Explained channel.
Today, we’re talking about Ethereum Classic (ETC).
Ethereum Classic is a cryptocurrency that was created in 2016 after a hard fork of the Ethereum blockchain.
The hard fork occurred after a hack of the DAO, a decentralized autonomous organization built on top of the Ethereum network.
The hack resulted in the loss of millions of dollars worth of Ethereum tokens.
In response, the Ethereum community voted to hard fork the blockchain.
The hard fork was controversial as it went against the Ethereum community’s commitment to immutability.
Those who rejected the hard fork decided to keep the original chain, creating Ethereum Classic.
Ethereum Classic operates as a decentralized platform for smart contracts and decentralized applications.
It is also a public blockchain that allows anyone to access and use it.
The Ethereum Classic network runs on a proof-of-work consensus protocol, meaning miners are rewarded with ETC tokens for validating transactions.
Ethereum Classic is a relatively new cryptocurrency and its price has been volatile in the past.
It is not as widely accepted as its predecessor, Ethereum, but it is gaining traction within the cryptocurrency community.
Before considering investing in Ethereum Classic, it is important to understand the risks associated with investing in any cryptocurrency.
If you’re looking to invest in Ethereum Classic, it is important to do your own research and make sure you understand the potential risks.
Thanks for watching!