Ethereum Classic (ETC) — blockchain-cryptoplatform for the development of decentralized applications based on open source smart contracts.
It is a decentralized Turing-complete virtual machine, the Ethereum Virtual Machine (EVM), which can execute programs on public network nodes.
Ethereum Classic provides the Ethereum currency (Classic Ether, Classic Ether, ETC), which can be transferred from one network member to another and is used to pay for calculations made by public network nodes, as well as the ability to create your own digital assets (tokens) on the Ethereum Classic blockchain . The ether paid for the calculations made is called "Gas" (Gas). The gas serves not only to pay for the performed calculations, but also prevents DDOS attacks on the network.
Ethereum Classic appeared as a result of disagreement with the accepted Ethereum Foundation "The DAO" (English) hard fork. He brought together members of the Ethereum community who rejected the DAO Hard Fork on philosophical grounds that were laid out in the Ethereum Classic Declaration of Independence. People who had ETH in their balance before the DAO hard fork (block 1900000) received the same amount of ETC after the hard fork.
