What is Ethereum Classic

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What is Ethereum Classic

Ethereum Classic

Ethereum Classic (ETC) is a decentralized blockchain-based platform that uses smart contracts to facilitate peer-to-peer transactions. It was created in 2016 after the original Ethereum network underwent a hard fork due to issues with its codebase. The Ethereum Classic network aims to provide users with an immutable ledger, meaning all data stored on it cannot be changed or modified by anyone else. This makes it ideal for applications such as property titles, voting systems and financial records which require absolute trustworthiness and immutability of data.

In addition, Etherum Classic has been designed so that developers can create their own decentralized applications (dApps). These dApps are powered by ETC’s native token called ‘Classic Ether’ (ETC), which is used as a form of payment within the ecosystem for transaction fees or services offered on these apps. Furthermore, ETC also powers its own virtual machine called EVM – allowing developers to build custom codes without having any prior knowledge of coding languages like C++ or Python etc..

Finally ,the main purpose behind creating Ethereum classic was providing users with more control over their funds compared to other centralized platforms out there . As long as you have your private keys , no one will ever be able access your funds unless you authorize them yourself . In this way , ETC ensures complete security & privacy when dealing in cryptocurrencies online .

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