 is a decentralized blockchain platform that emerged from a split in the original Ethereum network in 2016.){kind=link}
- Ethereum Classic and Ethereum are the two most prominent names in the blockchain world, as they often confuse enthusiasts and newcomers alike.
- They are the ones who share a common origin and their paths diverged after a significant event in the year 2016.
So, it is very important to ensure that this is the content piece that delves into the key difference between these two platforms. This is also something that sheds light on their distinct features and development philosophies. Also, people need to make sure that Ethereum Classic and Ethereum always share a similar goal so that they can build smart contracts and decentralized apps. But, on the other side, there are two chains that share many differences.
What Does Ethereum Mean?
Ethereum is a decentralized, open-source blockchain platform that always enables the creation and execution of different smart contracts. All these smart contracts are self-executing contracts with the terms of the argument directly written into code.
Also, Ethereum’s native cryptocurrency is Ether (ETH), which compensates participants who perform computations and validate transactions. Unlike Bitcoin, which is primarily a digital currency, Ethereum focuses on running the programming code of decentralized applications (dApps).
What Does Ethereum Classic Mean?
Ethereum Classic (ETC) is a decentralized blockchain platform that emerged from a split in the original Ethereum network in 2016. At the same time, most communities decided to reverse the hack and restore the stolen funds by creating a new version of Ethereum.
Also, a subset believed in the principle of a ‘code of law’ and always chose to continue on the original chain, usually naming it Ethereum Classic. Ethereum is also the one that supports smart contracts and Ethereum’s classic native cryptocurrency is also called Ether.
Three are miners who validate and record transactions on the ETC blockchain and they are also compensated by ETC for their efforts. ETC is also the one that upholds the principle of immutability, emphasizing transactions and smart contracts.
The Exact Difference Between Ethereum Classic and Ethereum!
Now, just because of some disagreements in the community after the DAO hack, they split in 2016. Initially, both Ethereum and Ethereum Classic originated on the same blockchain.
Also, because of this philosophy, Ethereum decided to reverse the DAO hack and restore all the stolen funds. On the other hand, ETC upheld the entire principle of the ‘code of law’, emphasizing that transactions once executed should always remain irreversible.
Ethereum is the one that focuses on maintaining its original vision and improving its existing system, while ETC focuses on maintaining its original vision and improving its existing system. Adoption is also the difference between ETH and ETC, where Ethereum has seen wider adoption with a very large ecosystem of dApps and DeFi projects. Similarly, ETC has fewer dApps in comparison.
Conclusion
So, to end this article, people need to make sure that ETH and ETC are both blockchain platforms that always support smart contracts. Similarly, on the other side, they diverged after a contentious hard fork in the year 2016.
Both platforms share exactly the same foundational technology and vision but Ethereum has seen more widespread adoption as compared to ETC.
