Ethereum Classic digital coin is an open-source, public, blockchain-based distributed computing platform featuring smart contract (scripting) functionality. The Ehereum Classic provides a decentralized Turing-complete virtual machine, the Ethereum Virtual Machine (EVM), which can execute scripts using an international network of public nodes. Ethereum Classic also provides a value token called “classic ether”, which can be transferred between participants, stored in a cryptocurrency wallet and is used to compensate participant nodes 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 offered by the request.
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The Ethereum Classic is the original Ethereum Blockchain supported by the people who believed in the core principles of Ethereum like the immutability of Blockchain and “code is law.” They denied the necessity of a hard fork to fix the damage after someone exploited The DAO vulnerabilities.
As the original Ethereum, ETC provides smart-contracts and a development platform. It also provides the Emerald Software Developer Kit: a toolkit, unique to ETC, made for building DAPPS (decentralized applications). The ETC team aims to use its product in the Internet of Things to provide machine-to-machine communication.