A Journey to the Top 50 Cryptocurrencies on Coinmarketcap and Coingecko – Ethereum Classic: The Original Ethereum Vision of Code Immutability | by Blockchain Today | Dec. 2023

Ethereum Classic is a decentralized smart contract blockchain that was created from a fork of Ethereum following the DAO hack in 2016. By rejecting the fork, ETC continues the original “Code is Law” vision of an immutable transaction history.

This in-depth guide explores Ethereum Classic's origins, technology, ecosystem growth, tokenomics, challenges, and roadmap, and concludes with key insights into its vision. Let's dive in!

Ethereum Classic was created in 2016 following the Ethereum community's controversial response to the DAO hack, in which flaws in the DAO smart contract code were exploited to siphon Ether. Here is an overview of the schedule of events:

• April 2016 – The DAO Project launches as a crowdfunded decentralized venture capital fund issuing DAO tokens.
• June 2016 – A hacker finds an exploit that allows 3.6 million ETH to be drained from the DAO contract into a child DAO.
• July 2016 – After controversial debates, Ethereum completes a hard fork that reverses the DAO hack transactions.
• July 2016 – A minority rejects the hard fork on the principle of “code immutability” and continues the original chain, now called Ethereum Classic, with ETC tokens.
• 2017 – Over time, support is added for Ethereum's various upgrades, such as: B. EVM bytecode standardization while maintaining the original vision.
• 2021 – ETC's supply cap is lifted to allow for unbound, consensus-determined monetary policy.

The origins of Ethereum Classic lie in the ideological commitment to true immutability of a minority who rejected centralized manipulation of Ethereum's transaction history. Next, let's look at ETC's philosophy.

Certain key philosophical principles define the purpose of Ethereum Classic in response to the DAO fork decision:

Immutability of the transaction

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