ethereum classic gives a permissionless method to oversee computerized resources without the requirement for middle people, like banks and different organizations.
Ethereum Classic permits uncensorable savvy agreements to be composed, sent and executed; ETC empowers really relentless programmable cash.
Ethereum Classic is the continuation of the unaltered history of the first Ethereum chain. The ETC network exists to safeguard the standard of "Code is Law".
Ethereum Classic works with showing brilliant agreements to offering the advantage of decentralized administration. All in all, the agreements can be implemented without an outsider included, like an attorney. Keen agreements are like in the event that assertions, which means assuming the activities needed inside the agreement have been satisfied, the reacting contract boundaries would be finished. On the off chance that the agreement boundaries have not been satisfied, there may be a punishment, a charge, or the agreement may be voided, contingent upon the terms set up at the beginning of the agreement.
At first, the Ethereum blockchain was set up as one organization in which exchanges were worked with by utilizing the digital currency ether of ETH. Notwithstanding, in June 2016, the blockchain was hacked and $50 million worth of assets were taken.
Albeit both Ethereum and ethereum classic proposition savvy contracts and are after a similar market, Ethereum has acquired in prevalence as the more real of the two organizations. Likewise, Ethereum's ETH is second just to Bitcoin as the most well known digital currency on the planet.
One of the main worries of Ethereum Classic is the potential constraints with regards to versatility. Ordinarily, the organization can deal with 15 exchanges each second, yet that number is undeniably not as much as installment organizations like Visa, which handles more than 1,000 exchanges each second. In spite of the fact that Ethereum Classic has gone through numerous product updates, the versatility of its installment frameworks stays to be perhaps its greatest test going ahead.
Likewise, security is probably going to stay an issue with keen agreements, especially since Ethereum Classic has as of now encountered a hack and burglary of millions of dollars. These worries might actually forestall savvy contracts by means of Ethereum Classic from being utilized in major monetary and land exchanges.
Guidelines of the digital currency market keep on creating, which could possibly change how Ethereum Classic—and different organizations—work. For instance, the Security and Exchange Commission (SEC) doesn't consider Ethereum or Bitcoin protections because of their decentralized organizations.