Ethereum Classic (ETC) Cambia

What is Ethereum Classic?

Ethereum Classic (ETC) is a cryptocurrency positioning itself as the main competitor and the main antagonist of Ethereum. The story of its appearance is connected with a number of scandals that haunted Ethereum in 2016. It was then that there was a series of hacks, because of which there were shortcomings in the security system of the cryptocurrency. The result was the theft of part of the investment of the DAO. After further events, the patience of some supporters came to an end.

As a result of the incident with the DAO, 3.6 million ETH were stolen, which corresponds to $50 million at the rate at that time. Vitalik Buterin suggested a full rollback of the system and its restart, which would help to return the stolen funds. However, part of the community did not support this idea and decided to separate. On July 20, 2016, an Ethereum hard fork occurred, as a result of which a separate branch separated from the blockchain, which was called Ethereum Classic.

In fact, ETC is the authentic Ethereum version. Initially, the ETC crypto produced a huge boom on the market. Now it remains quite popular. Ether Classic mining is provided on the same principles as Ethereum, with minor differences.