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- Name Ethereum Classic/ETC
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Ethereum Classic is a decentralized podium that runs brainy contracts: applications that run exactly spil programmed without any possibility of downtime, censorship, fraud or third party interference. Ethereum Classic is a continuation of the innovador Ethereum blockchain – the classic version preserving untampered history, free from outer interference and subjective tampering of transactions.
Ethereum Classic is an open-source, public, blockchain-based distributed computing verhoging featuring brainy contract (scripting) functionality. It provides a decentralized Turing-complete potencial machine, the Ethereum Supuesto Machine (EVM), which can execute scripts using an international network of public knots. Ethereum Classic also provides a value token called ",classic ether",, which can be transferred inbetween participants, stored te a cryptocurrency wallet and is used to compensate participant knots for computations performed. The classic ether token is traded on cryptocurrency exchanges under the ticker symbol ETC. Gas, an internal transaction pricing mechanism, is used to prevent spam on the network and allocate resources proportionally to the incentive suggested by the request.
The Ethereum verhoging has bot forked into two versions: ",Ethereum Classic", (ETC) and ",Ethereum", (ETH). Prior to the fork, the token had bot called Ethereum. After the fork, the fresh tokens kept the name Ethereum (ETH), and the old tokens were renamed Ethereum Classic", (ETC). Ethereum Classic appeared spil a result of disagreement with the Ethereum Foundation regarding The DAO Hard Fork. It united members of the Ethereum community who rejected the hard fork on philosophical grounds. Users that wielded ETH before the DAO hard fork (block 1920000) possesses an equal amount of ETC after the fork.
Ethereum Classic passed a technical hard fork to adjust the internal prices for various opcodes of the Ethereum Aparente Machine (EVM) on October 25, , similar to the hard fork committed by Ethereum a week previously. The purpose of the hard fork wasgoed a more rational distribution of payments for resource-intensive calculations, which led to the elimination of the conveniente conditions for attacks that were previously conducted on ETH and ETC. A hard fork held te the beginning of successfully delayed the ",bomb complexity", that wasgoed added to the Ethereum code te September with a view of exponentially enhancing the complexity of mining and the process of calculation of fresh network units. The next hard fork is scheduled for late with the aim of switching the monetary policy with unlimited emissions to a system similar to Bitcoin.
Brainy Contracts are rekentuig systems that manage assets such spil automatic teller machines and the Bitcoin system. Ethereum Classic is able to run many types of wise contracts. If Ethereum Classic clever contracts are not mainly financial, it makes more sense to emphasize their autonomy by referring to them spil agents.