Review on Ethereum Classic by Hakan Altan
Ethereum Classic review
Ethereum Classic (ETC) is a digital currency. However, Ethereum Classic is a split of the existing Ethereum digital currency (cryptocurrency), unlike a new digital currency. The blockchain of both Is equivalent to block 1920000.
Money transfer transactions are made to the investors of the DAO, ie Ethereum's autonomous capital fund, with this block value. All balances, wallets and trading transactions in Ethereum will also be valid in the Ethereum Classic blockchain until the hardfork, the block where the forced forking takes place.
After forking, the blockchains are divided into two and act individually. In short, we can say that Ethereum Classic is processed until the block number 1920000 and after this block Ethereum (ETH) is processed. However, ETH unit can also be processed in ETC's blockchains.
İşlemlerin belli bir noktada çatallaşması, zorunlu çatallaşma. Çatallaşmayla birlikte Ethereum camiası ikiye bölündü; ETC ve ETH.
How was Ethereum Classic created?
Users who did not switch to it when Hardfork was implemented did not update their software and continued to mine blockchains that did not have this application. Since the hardfork application also creates incompatibility between the new and old versions, users who mining on old blockchains have automatically allocated their blockchains up to 1920000 blockchains, which is equivalent to Ethereum.
Pros
- Stands behind the principle that blockchains are not silenced
- Recently, a few heavy names started to support
Cons
- They have no access to any of the innovations made on the ETH blockchain.
- Ethereuma considered as an attack and insult
