[{"data":1,"prerenderedAt":347},["ShallowReactive",2],{"api/learn-center-post-en-what-is-ethereum-classic-etc":3,"footer-en":57,"learn/cryptocurrency-guide/what-is-ethereum-classic-etc-en-seo":255,"navigation-en-learn-center":260,"api/learn-categories-en":308},{"seo":4,"locale":28,"breadcrumbs":29,"excerpt":37,"featuredImage":38,"components":39,"title":5,"formattedPublishedAt":50,"geofencings":51,"category":52,"pagination":54,"campaignExternalId":8},{"title":5,"metaTitle":6,"metaDescription":7,"keywords":8,"metaRobots":8,"structuredData":9,"metaImage":10,"metaSocial":18,"canonicalURL":8,"localizations":19},"What is Ethereum Classic? (ETC)"," What is Ethereum Classic? (ETC) | Bitstamp by Robinhood","What is Ethereum Classic? How does ETC work? Read our guide to Ethereum Classic and start trading ETC on Bitstamp by Robinhood – the original crypto exchange.",null,{},{"url":11,"mime":12,"ext":13,"width":14,"height":15,"name":16,"alt":17},"bitstampImageUrl/What_is_Ethereum_Classic_ETC_svg_ee554d283f_81b9df11e6.svg","image/svg+xml",".svg",192,108,"What_is_Ethereum_Classic_ETC_svg_ee554d283f.svg","",[],[20,23,26],{"pathname":21,"locale":22},"/en-gb/learn/cryptocurrency-guide/what-is-ethereum-classic-etc/","en-GB",{"pathname":24,"locale":25},"/es/learn/cryptocurrency-guide/what-is-ethereum-classic-etc/","es",{"pathname":27,"locale":28},"/learn/cryptocurrency-guide/what-is-ethereum-classic-etc/","en",[30,34],{"id":31,"text":32,"url":31,"asUrl":33},"/learn/cryptocurrency-guide/","Cryptocurrency guide",true,{"id":35,"text":5,"url":27,"asUrl":36},"what-is-ethereum-classic-etc",false,"\u003Cp>Ethereum Classic is a hard fork of the \u003Ca href=\"/learn/cryptocurrency-guide/what-is-ethereum-eth/\">Ethereum blockchain\u003C/a> that maintains a \u003Ca href=\"/learn/crypto-101/what-is-proof-of-work-pow/\">Proof of Work\u003C/a> consensus mechanism and capped supply.\u003C/p>\n",{"url":11,"mime":12,"ext":13,"width":14,"height":15,"name":16,"alt":17},[40],{"component":41,"props":42,"content":43,"secondaryContent":47,"ctas":48,"secondaryCtas":49,"ctasNoMarginTop":36},"section.full-text",{"centered":36,"withoutSectionContainer":36},{"text":44,"width":45,"align":46},"\u003Cp>A hard fork refers to a change in blockchain rules that results in the creation of two separate branches of the blockchain. In one branch (or \u003Cstrong>\u003Ca href=\"/learn/crypto-101/what-are-blockchain-forks/\">fork\u003C/a>\u003C/strong>), the chain’s nodes (or \u003Ca href=\"/learn/crypto-101/what-is-crypto-mining/\">miners\u003C/a>) validate transactions and produce blocks while maintaining the old rules. In the other branch, nodes upgrade their software and operate by the new set of rules.\u003C/p>\n\u003Cp>Early in the history of the Ethereum blockchain, \u003Ca href=\"/learn/crypto-101/what-are-decentralized-autonomous-organizations-dao/\">a decentralized autonomous organization (DAO)\u003C/a> called “The DAO” raised millions of dollars to create an opportunity for crypto-based investments. The DAO was based on a set of smart contracts which ended up being hacked and resulted in many Ethereum users losing their valuable \u003Ca href=\"/learn/crypto-101/what-is-cryptocurrency/\">cryptocurrency\u003C/a>. This ultimately led to the hard fork that created Ethereum, where the funds were restored, and renamed the old chain Ethereum Classic.\u003C/p>\n\u003Cp>Hard forks have also occurred several times in \u003Ca href=\"/learn/cryptocurrency-guide/what-is-bitcoin-btc/\">Bitcoin’s\u003C/a> history, resulting in the \u003Ca href=\"/learn/cryptocurrency-guide/what-is-bitcoin-cash-bch/\">Bitcoin Cash\u003C/a> and Bitcoin Gold forks. Hard forks are also the process by which Ethereum continues to undergo upgrades, including its switch to \u003Ca href=\"/learn/crypto-101/what-is-proof-of-stake-pos/\">Proof of Stake\u003C/a>.\u003C/p>\n\u003Cp>ETHEREUM CLASSIC ESSENTIALS\u003C/p>\n\u003Cul>\n\u003Cli>Ethereum Classic is a hard fork of the Ethereum blockchain that uses a Proof of Work consensus mechanism and whose native coin is the ETC cryptocurrency.\u003C/li>\n\u003Cli>The hard fork that created Ethereum Classic was implemented due to a large exploit of the smart contracts belonging to a decentralized autonomous organization called “The DAO” in 2016.\u003C/li>\n\u003Cli>A few differences between Ethereum and Ethereum Classic include the latter’s dedication to Proof of Work, its decision to implement a capped supply with a fixed emissions curve, and its smaller (but dedicated) community.\u003C/li>\n\u003C/ul>\n\u003Ch2>How was Ethereum Classic created?\u003C/h2>\n\u003Cp>The DAO was launched in April 2016 through a crowdsale that raised over $150 million and distributed its DAO token to investors. As a result of its popularity and massive early investment, The DAO controlled about 14% of all ETH tokens. This became problematic when several security flaws were discovered in its smart contracts, which were ultimately exploited for $50 million worth of ETH—fewer than 2 months after the crowdsale began.\u003C/p>\n\u003Cp>Although attempts were made to recover the funds from the hacker, The Ethereum Foundation ultimately set a vote for a \u003Cstrong>hard fork\u003C/strong>, creating a new chain that would formally move on as “Ethereum.” This allowed the stolen funds to be reallocated to a smart contract called WithdrawDAO, where original owners of stolen ETH could recover their funds.\u003C/p>\n\u003Cp>Ethereum Classic continues to exist as a blockchain that operates the \u003Ca href=\"/learn/blockchain/what-is-the-ethereum-virtual-machine-evm/\">Ethereum Virtual Machine (EVM)\u003C/a>, supporting \u003Ca href=\"/learn/crypto-101/what-are-smart-contracts/\">smart contracts\u003C/a>, \u003Ca href=\"/learn/crypto-101/what-are-decentralized-applications-dapps/\">decentralized applications (dapps)\u003C/a>, and its own cryptocurrency, ETC.\u003C/p>\n\u003Cp>However, not all miners agreed with the decision to make this change and chose to maintain the original chain, dubbed Ethereum Classic.\u003C/p>\n\u003Ch2>How does Ethereum Classic work?\u003C/h2>\n\u003Ch3>Proof of Work vs Proof of Stake\u003C/h3>\n\u003Cp>While Ethereum moved to a Proof of Stake (PoS) model in September 2022, Ethereum Classic chose to remain Proof of Work (PoW) as the consensus mechanism to validate transactions in an effort to ensure maximum decentralization and censorship resistance.\u003C/p>\n\u003Cp>One criticism of PoS networks is that centralization and inequity are natural consequences of their structure, and the Ethereum Classic community hopes to avoid these pitfalls, such as \u003Cstrong>33% attacks\u003C/strong>. 33% attacks happen when one user (or pool of users) controls more than a third of all coins (like ETH), enabling them to potentially halt the production of new blocks.\u003C/p>\n\u003Cp>Attackers of PoW networks, however, require 51% of coins to trigger this same effect, also known as \u003Cstrong>\u003Ca href=\"/learn/security/what-is-a-51-percent-attack/\">double spending\u003C/a>\u003C/strong> their assets. Ethereum Classic has seen multiple 51% attacks, including three over the course of one month in 2020. In one of these, about $5.6 million worth of ETH was stolen.\u003C/p>\n\u003Cp>Despite its woes, Ethereum Classic formally solidified its dedication to PoW in 2018 by defusing Ethereum’s built-in \u003Cstrong>difficulty bomb\u003C/strong>, a coded increase in mining difficulty meant to incentivize a network transition to PoS model.\u003C/p>\n\u003Ch3>Ethereum vs. Ethereum Classic\u003C/h3>\n\u003Cp>Both Ethereum and Ethereum Classic are founded on the same whitepaper proposed by \u003Ca href=\"/learn/people-profiles/who-is-vitalik-buterin/\">Vitalik Buterin\u003C/a> in 2014 and are powered by similar computer code through smart contracts. They can both run the EVM, support dapps, and facilitate secure transactions of crypto assets.\u003C/p>\n\u003Cp>One main difference between Ethereum and Ethereum Classic is the use of PoW versus PoS as a consensus mechanism. Whereas Ethereum Classic defused its difficulty bomb, Ethereum underwent \u003Cstrong>\u003Ca href=\"/learn/cryptocurrency-guide/what-is-the-ethereum-merge/\">The Merge\u003C/a>\u003C/strong> in September 2022, formally transitioning to a PoS network. In fact, Ethereum nodes who wanted to continue generating profits through PoW processing began mining ETC soon after The Merge.\u003C/p>\n\u003Cp>Another difference is that ETC is intended to represent \u003Cstrong>sound money\u003C/strong>. Although this term has many implications, in this case it means that ETC has a \u003Cstrong>fixed emissions curve\u003C/strong> for the creation (or minting) of new ETC tokens, which is not the case for ETH. In other words, the introduction of new ETC to the supply—much like Bitcoin’s BTC—is predictable and decreases over time until the maximum amount of 210,700,000 ETC is mined.\u003C/p>\n\u003Cp>Finally, it is important to note that while ETH is widely used and traded, Ethereum Classic has experienced significantly less adoption and liquidity for its ETC.\u003C/p>\n\u003Ch2>How is the ETC token used?\u003C/h2>\n\u003Cp>ETC is the native cryptocurrency of the Ethereum Classic blockchain. It is used to pay for gas fees on the network and transact between individual users. Mining rewards are also paid out in ETC.\u003C/p>\n\u003Cp>Prior to the hard fork that resulted from the hack of The DAO, Ethereum Classic’s native token (ETC) and Ethereum’s token (ETH) were one in the same. In fact, when the hard fork occurred, everyone who owned ETH was given an equivalent amount of ETC.\u003C/p>\n\u003Ch3>Token distribution\u003C/h3>\n\u003Cp>Since the hard fork of Ethereum, different development decisions and monetary policies have caused certain aspects of ETH and ETC to diverge.\u003C/p>\n\u003Cp>The total supply of ETC was capped at 210,700,000 via an upgrade that occurred in December 2017. The creation of new ETC coins is reduced by 20% every 5 million blocks, which creates a deflationary pressure on the supply. This is similar to \u003Ca href=\"/learn/crypto-101/what-is-crypto-mining/\">Bitcoin’s tokenomics,\u003C/a> with the caveat that \u003Cstrong>halvings\u003C/strong> (reductions of mining rewards by half) occur about every 2.5 years for ETC, instead of every 4 years with BTC.\u003C/p>\n","full","left",{"text":17},[],[],"October 28th, 2022",{},{"title":32,"url":31,"geofencings":53},{"geofencing-uk":33},{"previous":55,"next":56},"/learn/cryptocurrency-guide/what-is-enjin-enj/","/learn/cryptocurrency-guide/what-is-ethereum-eth/",{"ready":33,"sections":58,"disclaimer":253,"copyright":254},[59,102,130,153,190,209],{"title":60,"content":17,"items":61},"About",[62,67,72,77,82,87,92,97],{"noFollow":33,"isExternal":36,"name":63,"value":64,"isEmail":36,"isPhoneNumber":36,"isText":36,"showOnDesktop":33,"showOnMobile":33,"attachment":65,"geofencings":66},"Who We 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Kingdom",{},{},{"title":210,"content":17,"items":211},"Contact",[212,217,221,225,229,233,238,243,248],{"noFollow":36,"isExternal":36,"name":213,"value":214,"isEmail":36,"isPhoneNumber":36,"isText":36,"showOnDesktop":33,"showOnMobile":33,"attachment":215,"geofencings":216},"Customer support","/customer-support/",{},{},{"noFollow":36,"isExternal":36,"name":218,"value":218,"isEmail":33,"isPhoneNumber":36,"isText":36,"showOnDesktop":33,"showOnMobile":33,"attachment":219,"geofencings":220},"info@bitstamp.net",{},{},{"noFollow":36,"isExternal":36,"name":222,"value":222,"isEmail":33,"isPhoneNumber":36,"isText":36,"showOnDesktop":33,"showOnMobile":33,"attachment":223,"geofencings":224},"press@bitstamp.net",{},{},{"noFollow":36,"isExternal":36,"name":226,"value":226,"isEmail":33,"isPhoneNumber":36,"isText":36,"showOnDesktop":33,"showOnMobile":33,"attachment":227,"geofencings":228},"support@bitstamp.net",{},{},{"noFollow":36,"isExternal":36,"name":230,"value":230,"isEmail":33,"isPhoneNumber":36,"isText":36,"showOnDesktop":33,"showOnMobile":33,"attachment":231,"geofencings":232},"complaints@bitstamp.net",{},{},{"noFollow":36,"isExternal":36,"name":234,"value":235,"isEmail":36,"isPhoneNumber":33,"isText":36,"showOnDesktop":33,"showOnMobile":33,"attachment":236,"geofencings":237},"+44 20 3868 9628","+442038689628",{},{},{"noFollow":36,"isExternal":36,"name":239,"value":240,"isEmail":36,"isPhoneNumber":33,"isText":36,"showOnDesktop":33,"showOnMobile":33,"attachment":241,"geofencings":242},"+1 800 712 5702","+18007125702",{},{},{"noFollow":36,"isExternal":36,"name":244,"value":245,"isEmail":36,"isPhoneNumber":33,"isText":36,"showOnDesktop":33,"showOnMobile":33,"attachment":246,"geofencings":247},"+352 20 88 10 96","+35220881096",{},{},{"noFollow":36,"isExternal":36,"name":249,"value":250,"isEmail":36,"isPhoneNumber":33,"isText":36,"showOnDesktop":33,"showOnMobile":33,"attachment":251,"geofencings":252},"+65 3105 1676","+6531051676",{},{},"\u003Cp>Please read the general \u003Ca href=\"/legal/risk-warning/\" target=\"_blank\" rel=\"noopener noreferrer nofollow\">Risk Warning\u003C/a>, and \u003Ca href=\"/legal/uk-investment-risk-warning/\" target=\"_blank\" rel=\"noopener noreferrer nofollow\">Risk Summary\u003C/a> for UK residents before investing in crypto-assets. \u003C/p>\n\u003Cp>Crypto-assets services are provided by the following Bitstamp legal entities depending on client residency: (1) Bitstamp Europe S.A., which is authorized by the Commission de Surveillance du Secteur Financier (CSSF) in Luxembourg as a payment institution (licence number Z00000012) and crypto-asset service provider (licence number N00000003); Registered address: 40, avenue Monterey, L-2163 Luxembourg, Grand Duchy of Luxembourg; Registration number: B196856; (2) Bitstamp UK Ltd., which is registered with the Financial Conduct Authority (FCA) in the UK for the provision of certain cryptoassets activities under the Money Laundering Regulations (Firm Reference Number 978690); Registered address: 5 New Street Square, EC4A 3TW London, United Kingdom; Registration number: 14174243; (3) Bitstamp Ltd.with its registered address at 5 New Street Square, EC4A 3TW London, United Kingdom and registration number: 8157033; (4) Bitstamp Global Ltd., which is registered as a Virtual Asset Service Provider in the British Virgin Islands and is supervised by the British Virgin Islands Financial Services Commission (FSC); Registered address: Floor 4, Banco Popular Building, Road Town, Tortola VG1110, British Virgin Islands; Registered number: 2086429; and (5) Bitstamp Asia Pte Ltd, which is authorized by the Monetary Authority of Singapore (MAS) as a major payment institution (licence number PS20200667); Registered address: 63 Chulia Street, OCBC Centre East, #15-01, Singapore 049514; Registered number: 202016687K;\u003C/p>\n\u003Cp>Virtual currency services to US residents are provided by Bitstamp USA, Inc., which is licensed to engage in virtual currency business activity by the New York State Department of Financial Services. Licensed as a Money Transmitter by the New York State Department of Financial Services. Review a \u003Ca href=\"/legal/usa-inc/\" target=\"_blank\" rel=\"noopener noreferrer nofollow\">list of its licenses and other registrations\u003C/a> (NMLS number \u003Ca href=\"https://www.nmlsconsumeraccess.org/EntityDetails.aspx/COMPANY/1905429\" target=\"_blank\" rel=\"noopener noreferrer nofollow\">1905429\u003C/a>) for more information; Registered address: 85 Willow Road, Menlo Park, CA 94025, United States of America; Registered number: 5481543.\u003C/p>\n\u003Cp>Investment services with regards to trading in crypto derivatives are provided by Bitstamp Financial Services Ltd., which is authorized and supervised by the Slovenian Securities Market Agency (ATVP) as a MiFiD investment firm. Trading crypto derivatives carries significant risks and may result in substantial losses. Please trade responsibly and ensure you understand the associated risks. You can find more about the risks \u003Ca href=\"/legal/financial-services/general-terms-and-conditions/\" target=\"_blank\" rel=\"noopener noreferrer nofollow\">here\u003C/a>. To help you understand the risks involved we have put together a series of \u003Ca href=\"/derivatives/key-information-documents/\" target=\"_blank\" rel=\"noopener noreferrer\">Key Information Documents (KIDs)\u003C/a> highlighting the risks and rewards related to each derivatives contract. Crypto derivatives trading is not available to customers in the US, Canada, Japan and some other countries. Bitstamp Financial Services Ltd. does not provide crypto-asset services.\u003C/p>\n\u003Cp>To find out more about which Bitstamp entity you receive services from, please check the Profile/My information in your Bitstamp account. You can read more about our legal terms, policies and disclosures \u003Ca href=\"/legal/\" target=\"_blank\" rel=\"noopener noreferrer nofollow\">here\u003C/a>.\u003C/p>\n","\u003Cp>All rights reserved © 2026 Bitstamp by Robinhood. \u003Ca href=\"https://www.nmlsconsumeraccess.org/EntityDetails.aspx/COMPANY/1905429\" target=\"_blank\" rel=\"noopener noreferrer nofollow\">NMLS #1905429\u003C/a>\u003C/p>\n",{"description":7,"ogDescription":7,"ogImage":256,"twitterImage":256,"twitterSite":257,"twitterCreator":257,"twitterCard":258,"twitterTitle":6,"twitterDescription":7,"titleTemplate":259},"https://assets.bitstamp.net/msc/_ipx/enlarge_true&f_png&fit_cover&q_85&s_1200x630/bitstampImageUrl/What_is_Ethereum_Classic_ETC_svg_ee554d283f_81b9df11e6.png","@Bitstamp","summary_large_image","%s",{"items":261,"ready":33,"platformButtonText":304,"backButtonText":305,"logInButtonText":306,"signUpButtonText":307},[262,266,270,273,276,279,282,287,290,295,300],{"headerName":263,"sidemenuName":134,"url":135,"noFollow":36,"showInHeader":33,"showInSidemenu":33,"geofencings":264,"submenu":265,"tag":17},"Institutions",{},[],{"headerName":126,"sidemenuName":126,"url":127,"noFollow":36,"showInHeader":33,"showInSidemenu":33,"geofencings":267,"submenu":268,"tag":269},{},[],"NEW",{"headerName":149,"sidemenuName":149,"url":150,"noFollow":36,"showInHeader":33,"showInSidemenu":33,"geofencings":271,"submenu":272,"tag":17},{},[],{"headerName":106,"sidemenuName":106,"url":107,"noFollow":36,"showInHeader":33,"showInSidemenu":33,"geofencings":274,"submenu":275,"tag":17},{},[],{"headerName":116,"sidemenuName":116,"url":117,"noFollow":36,"showInHeader":33,"showInSidemenu":33,"geofencings":277,"submenu":278,"tag":17},{},[],{"headerName":121,"sidemenuName":121,"url":122,"noFollow":36,"showInHeader":33,"showInSidemenu":33,"geofencings":280,"submenu":281,"tag":17},{"geofencing-uk":33},[],{"headerName":283,"sidemenuName":283,"url":284,"noFollow":36,"showInHeader":33,"showInSidemenu":33,"geofencings":285,"submenu":286,"tag":17},"Markets","/markets/",{},[],{"headerName":111,"sidemenuName":111,"url":112,"noFollow":36,"showInHeader":33,"showInSidemenu":33,"geofencings":288,"submenu":289,"tag":17},{},[],{"headerName":291,"sidemenuName":291,"url":292,"noFollow":36,"showInHeader":33,"showInSidemenu":33,"geofencings":293,"submenu":294,"tag":17},"Blog","https://blog.bitstamp.net/",{},[],{"headerName":296,"sidemenuName":296,"url":297,"noFollow":36,"showInHeader":33,"showInSidemenu":33,"geofencings":298,"submenu":299,"tag":17},"Learn","/learn/",{},[],{"headerName":301,"sidemenuName":301,"url":107,"noFollow":36,"showInHeader":36,"showInSidemenu":33,"geofencings":302,"submenu":303,"tag":17},"Get Bitstamp by Robinhood app",{},[],"Go to platform","Back","Log in","Get started",[309,313,317,321,325,329,331,335,339,343],{"title":310,"url":311,"geofencings":312},"Blockchain technology","/learn/blockchain/",{},{"title":314,"url":315,"geofencings":316},"Company profiles","/learn/company-profiles/",{},{"title":318,"url":319,"geofencings":320},"Crypto 101","/learn/crypto-101/",{},{"title":322,"url":323,"geofencings":324},"Crypto definitions","/learn/crypto-definitions/",{},{"title":326,"url":327,"geofencings":328},"Crypto trading","/learn/crypto-trading/",{},{"title":32,"url":31,"geofencings":330},{"geofencing-uk":33},{"title":332,"url":333,"geofencings":334},"People profiles","/learn/people-profiles/",{},{"title":336,"url":337,"geofencings":338},"Security","/learn/security/",{},{"title":340,"url":341,"geofencings":342},"Tutorials","/learn/bitstamp-tutorials/",{},{"title":344,"url":345,"geofencings":346},"Web3","/learn/web3/",{},1775562929755]