Wat is Ethereum Classic

Ethereum Classic should not be confused with Ethereum. This fork under the ticker ETC appeared in 2016 after a major hard fork during which millions of dollars were leaked. That happened due to the vulnerability of one smart contract of a private DAO fund.

Developers and investors assumed that Ethereum would no longer exist after irreversible changes in code, and only the Classic version would remain. However, the creators were still able to restore it and continue working. ETC also remained and later began trading on the Poloniex site. There, its value rose to a third of the price of Ethereum. The transaction fee is still one of the lowest on the market, around 1 cent.

In total, there is a limited number of tokens, 210M. The absolute maximum will be released by 2025. Until then, the Ethereum Classic price determination model will remain inflationary. According to the official representatives of this coin, such an approach will make investments in coins more stable since the value of ETC will not drop dramatically as their number increases.

In contrast, standard Ethereum coins will only increase more every year.