The Origin of Ethereum Classic (ETC) – UEEx

The origin of Ethereum Classic (ETC) can be traced back to 2016. At that time, Ethereum was a newly emerging blockchain platform that garnered global attention and interest. However, Ethereum faced a significant event in 2016 known as "The DAO Hack."

DAO, a decentralized autonomous organization on Ethereum, attracted a substantial amount of funds from investors. Unfortunately, the organization's smart contract fell victim to a hacker's attack, resulting in a massive theft of Ether. Faced with this incident, Ethereum's core development team decided to take emergency measures by implementing a hard fork to modify the blockchain's rules and recover the stolen funds.

However, this decision led to a community split. Some argued that the immutability and decentralization principles of the blockchain should be maintained, and historical transactions should not be altered. Others believed that implementing a hard fork was a necessary measure to protect the interests of investors. In response, some community members advocated for preserving the original version of Ethereum, and it became known as Ethereum Classic.

As a result, ETC emerged as a fork of Ethereum. Ethereum Classic retained the unmodified blockchain history, adhering to the principles of non-interference and non-modification of transactions. Although Ethereum Classic has a relatively smaller market value and influence, it still attracts a portion of users and developers who align with its philosophy and values of preserving the original blockchain.

The origin of Ethereum Classic highlights the divisions and different perspectives within the cryptocurrency community. It provides people with diverse choices and prompts contemplation on the importance of blockchain immutability, decentralization, and community governance.

Coin Launch Date: November 1, 2015
Total Supply: 210,700,000
Circulating Supply as of July 9, 2023: 132,826,796

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