Ethereum Classic (ETC): how it works, supply and reviews
Layer 1 blockchain
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Key facts
- Ticker
- ETC
- Category
- Layer 1 blockchain
- Network
- own blockchain
- Launched
- 2015-07
- Mining algorithm
- Ethash
- Official site
- ethereumclassic.org
- Source code
- github.com/ethereumclassic/ethereumclassic.github.io
Data: CoinGecko, 2026-10-27. Only projects that still trade with meaningful volume are listed.
What is Ethereum Classic
Ethereum Classic (ETC) is a proof-of-work smart contract blockchain that continues the original Ethereum chain, which did not adopt the July 2016 fork that reversed the DAO theft. It runs the Ethereum Virtual Machine and has a fixed emission schedule capped at about 210.7 million ETC.
Network and consensus
| Parameter | Details |
|---|---|
| Type | Layer-1 smart contract blockchain; the chain that remained after Ethereum forked on 20 July 2016 |
| Consensus | Proof of work using Etchash, a modified Ethash activated at block 11,700,000 |
| Launched | Shares Ethereum’s history from its Frontier launch on 30 July 2015 |
| Smart contracts | Yes, Ethereum Virtual Machine; upgrades such as Spiral (2024) keep parity with Ethereum’s EVM changes |
Supply and issuance
| Parameter | Details |
|---|---|
| Maximum supply | About 210.7 million ETC upper bound (ECIP-1017) |
| Issuance | Block rewards to miners, reduced by 20% every 5,000,000 blocks ("5M20") |
| Halving | Reward reductions ("Fifthenings"); Era 5 began on 30 May 2024 with 2.048 ETC per block |
What ETC is used for
- Paying transaction fees and smart contract execution on the network
- Block rewards that pay proof-of-work miners for securing the chain
- A currency with a fixed, decreasing emission schedule
Who develops and governs Ethereum Classic
- Governance
- Ethereum Classic Improvement Proposals (ECIPs); authors must build community consensus
- Foundation
- No single official organisation; the community website states there is "no official anything"
- Open source
- Yes; ECIPs are kept in a public versioned repository
History
| Date | Event |
|---|---|
| 30 July 2015 | Ethereum launched with the Frontier release; Ethereum Classic shares this history |
| 20 July 2016 | Ethereum hard-forked to reverse the DAO theft; the unforked chain continued as Ethereum Classic |
| 11 December 2017 | The Gotham upgrade introduced the fixed 5M20 emission schedule |
| 8 January 2019 | First successful 51% chain reorganization attack on the network |
| 28 November 2020 | Thanos upgrade switched mining to Etchash by recalibrating the DAG epoch length |
| 5 February 2024 | Spiral upgrade brought Ethereum’s Shanghai changes to ETC |
Security and audits
- The network suffered four successful 51% chain reorganization attacks in 2019–2020
- In response, the Core-Geth client added optional M.E.S.S. protection against deep chain reorganizations
Risks and caveats
- Proof-of-work security depends on hashrate; the chain has been reorganized by 51% attacks in the past
- No single organisation is responsible for the network; development relies on independent teams and community consensus
- The exact final supply depends on the uncle rate; ECIP-1017 bounds it between about 198.5 and 210.7 million ETC
Official links
- Website: ethereumclassic.org
- Docs: ecips.ethereumclassic.org
- Source code: github.com/ethereumclassic
- Block explorer: etc.blockscout.com
Questions and answers
What is Ethereum Classic?
Ethereum Classic is the proof-of-work smart contract blockchain that continued the original Ethereum chain after the July 2016 DAO fork.
Who created Ethereum Classic?
It shares Ethereum’s origins from 2015; since the 2016 split it has been maintained by independent developers and the community, with no single official organisation.
What is the maximum supply of ETC?
About 210.7 million ETC; the block reward falls by 20% every 5,000,000 blocks.
How does Ethereum Classic work?
Miners secure the chain with Etchash proof of work, and smart contracts run on the Ethereum Virtual Machine.
Has Ethereum Classic been attacked?
Yes. The network had four successful 51% chain reorganization attacks in 2019 and 2020.
Sources
- CoinGecko — Ethereum Classic
- Ethereum Classic — History
- Ethereum Classic — Sound Money
- ECIP-1017 — Monetary Policy and Final Modification to the Ethereum Classic Emission Schedule
- ECIP-1099 — Calibrate Epoch Duration
- ECIP-1000 — ECIP Process
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