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Review on Ethereum Classic by Emma Phonespecs
ETC is a coin that is related to the history of Ethereum. (can be viewed as an…
ETC is a coin that is related to the history of Ethereum. (can be viewed as an old Ethereum). A hard fork of Ethereum happened in July 2016 due to an attack, known as the DAO attack, that hacked around 50 million dollars. Main community supporters including Vitalik proposed to change the code of Ethereum to invalidate the hack and refund the victims. However, some held the belief that the code of a blockchain should be immutable no matter what. It happened that the community later agreed on a hard fork, which birthed Ethereum classic
Pros
- People can save money cost by Ethereum projects(“gas”, which should be paid by ether, is needed to run programs in Ethereum) simply by switching to Ethereum Classic. After all, Ethereum Classic and Ethereum uses the same protocol and they are running the same code.
Cons
- Most major developers are supporters of the new hard forked Ethereum. The communicty of ETC is quite small, and most people buying it are not real users that uses the token to execute programs.
