What is Ethereum Classic?

Description

Ethereum Classic (ETC) is the name of an open-source public blockchain. It represents the original version of Ethereum, maintaining the pre-fork (proof-of-work) blockchain of the project. Ethereum Classic enables smart contracts, which automate actions via the blockchain, enabling a new era of digital services and products.

Technology

From a technological standpoint, Ethereum Classic utilizes the same technology as Ethereum, allowing the creation and execution of smart contracts on its blockchain. This technology enables developers to build decentralized applications (DApps) and implement a wide range of use cases, from automating complex financial transactions to managing digital identities. Additionally, Ethereum Classic has maintained the "Code is Law" approach, meaning that the protocol code and transactions on its blockchain are immutable and cannot be altered once executed.

The native currency of Ethereum Classic is Ether Classic (ETC), which serves several functions within its ecosystem, including paying transaction fees for executing smart contracts and for transactions on the Ethereum Classic blockchain.

On Conio it is possible to buy and sell ETC (Ethereum Classic's native blockchain currency), however, it is not yet possible to withdraw and deposit ETC. On the other hand, you can use the "Convert" function to convert ETC to another asset from among those in the Conio marketplace.