Ethereum classic (ETC) is a public, open-source, blockchain-based circulated computing platform featuring smart contract (scripting) functionality. Ethereum Classic uses these “Smart Contracts” which is revolutionising the business world including many industries such as insurance and real estate. ETC appeared because of a disagreement with the Ethereum Foundation regarding the DAO hack. Ethereum classic is the original Ethereum blockchain with Ethereum (ETH) being the fork, when the fork happened a group of people wanted to stay with the ‘classic’ version. The purpose of the hard fork was a more rational delivery of payments for resource-intensive calculations, which led to the removal of the favourable circumstances for occurrences that were formerly shown on ETH as well as ETC.
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