Ethereum Classic (ETC) is a decentralized, open-source blockchain platform that runs smart contracts, launched in July 2015 as the original Ethereum blockchain. Following a hard fork in July 2016 due to the DAO hack, ETC emerged as the chain preserving Ethereum’s initial vision of immutability, where “code is law.” Its native token, ETC, powers transactions and smart contract execution.

Key Features

  • Immutable Blockchain: Maintains an unalterable ledger, rejecting rollbacks even after hacks, prioritizing decentralization.
  • Smart Contracts: Supports Ethereum’s EVM (Ethereum Virtual Machine), enabling dApps for DeFi, NFTs, and more.
  • Proof-of-Work (PoW): Secured by ~300 TH/s hashrate, with miners earning ~2.56 ETC per block (reducing to 2.048 ETC in June 2024).
  • Ecosystem: Integrated with 273+ exchanges (e.g., Binance, Coinbase) and wallets like MetaMask.

ETC Token

  • Purpose: Used for transaction fees (gas), smart contract execution, and mining rewards.
  • Supply: ~150M ETC in circulation, with a maximum supply of 210.7M (unlike ETH’s uncapped supply).
  • Contract Address: Native to its own blockchain CoinGecko CMC.

Who Are the Founders of ETC?

ETC shares Ethereum’s origins, founded by Vitalik Buterin, Gavin Wood, Anthony Di Iorio, and Charles Hoskinson in 2015. After the 2016 DAO hack (3.6M ETH stolen), the community split. ETC continued as the original chain, supported by developers and miners valuing immutability. It operates as a “do-ocracy” with no centralized governance, driven by a global developer community.

What Makes ETC Unique?

ETC distinguishes itself in Web3:

  • Immutability Commitment: Unlike Ethereum (ETH), which forked to reverse the DAO hack, ETC upholds “code is law.”
  • PoW Security: The largest PoW smart contract platform, avoiding Ethereum’s Proof-of-Stake shift.
  • Sound Money: Capped at 210.7M ETC, resembling “digital gold” with predictable issuance.
  • Backward Compatibility: Retains Ethereum’s original EVM, supporting early dApps, though scalability lags.

ETC Network Upgrades (2025)

  • Spiral Upgrade (Q2 2025): Improved EVM performance and reduced block times to ~12 seconds for better throughput
  • MESS Implementation (April 2025): Enabled Merged Mining to enhance security by allowing dual mining with other PoW chains.
  • Layer-2 Exploration (June 2025): Launched testnets for rollups to improve scalability and lower gas fees.

How Is ETC Secured?

ETC’s security includes:

  • Proof-of-Work (PoW): Uses Ethash algorithm with ~300 TH/s hashrate, though past 51% attacks (e.g., August 2020) highlight risks.
  • Smart Contract Audits: Community-driven audits ensure contract integrity.
  • Decentralized Governance: Community proposals and miner adoption drive upgrades.
  • Immutable Ledger: Permanent transactions and contracts enhance transparency.

Conclusion

Ethereum Classic (ETC) upholds blockchain purism, preserving Ethereum’s original immutable vision. With a robust PoW security, ETC supports smart contracts and dApps. Its “code is law” ethos and emerging Layer-2 solutions make it a unique Web3 platform for those prioritizing decentralization and unalterable principles.