Ethereum classic is a blockchain-based open-source smart contract crypto project. As its name suggests, Ethereum Classic maintains the original transaction history of the Ethereum blockchain. Ethereum released in July 2015, and disaster struck in July 2016 when a hacker stole $100 million worth of Ether. The hacker managed to find a loophole in the code and get away with 15% of the Ether coin supply.
The Ethereum Foundation decided to create a hard fork of the project and reset it to its state one day before the hack. This managed to restore the coins to their investors and render the stolen ones useless. However, this move wasn’t a welcome one to around 15% of the Ethereum community, and some of them decided to stick with the original blockchain. The new one grew to become the Ethereum (ETH), and the old one has become known as Ethereum Classic (ETC).
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What are the differences between ETC and ETH? Read here