What is Ethereum Classic and how does it work?

Ethereum Classic just like ETH is a decentralized cryptocurrency that uses the Blockchain network for its operations. The token is minable and also has the characteristic of being able to sign intelligent contracts.

So what is the difference between ETC and ETH? Well, the differences are barely negligible. The reason for the separation of the coins was caused by a cyber attack in 2016 in which 50 million dollars were stolen in Ethereum.

The developers of Ethereum could reverse the transactions and return the funds but the philosophy of the currency says that transactions can not be edited or deleted.

The hack was carried out by known security flaws, after the attack the community debated the possible solution and as it is usually the case there was no consensus so they separated.

Currently Ethereum Classic maintains its original code while Ethereum was copied to the detritus and later the security errors that made it vulnerable have been corrected.

If you want to know in which Wallet to store your Ethereum Classic we recommend you take a look at this article where we recommend the most recognized Wallets of this cryptocurrency.

To track any Wallet or transaction made with ETC you just have to access this website, it is an explorer which gives you the available information of the transactions.

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