Put simply, blockchains provide a way to keep track of digital assets (money, things) without the need for intermediaries, such as banks and other financial institutions.
Ethereum Classic (ETC) is a smarter blockchain, a network, a community, and a cryptocurrency that takes digital assets further. In addition to allowing people to send value to each other, ETC allows people to create complex contracts that operate autonomously and cannot be modified or censored. This can be a difficult concept to grasp for those new to the blockchain space. For now, imagine Bitcoin as a landline phone—it does one thing very well. From this perspective ETC is like a smartphone or the Internet; it can do everything Bitcoin can and much more.
Imagine Bitcoin as a landline phone, it was a revolutionary idea that connected people across the world in ways no one could have imagined.
From there those same lines that carried phone signals were adapted to carry digital signals and birthed the Internet that connected people in even more advanced ways.
In this way Bitcoin is the revolutionary idea that connected people in brand new ways.
ETC is the more advanced connection, it takes the blockchain idea into the future, enabling us to do much more than simply send money.
If the Internet was simply a bunch of interconnected computers, and didn't have any users or people creators making websites, it would be largely useless. In much the same way a blockchain needs users and creators. ETC has both and we're working on solving real world problems of interconnecting people and their devices.
Beyond a blockchain, we are:
- A fair and open community
- A blockchain with a long history of operation
- A blockchain on which all transactions are immutable, or permanent; if someone sends you value on the ETC blockchain, it is yours forever
- The future of the internet of things (IoT)
[NEEDS MORE ABOUT IoT]
ETC has some of the largest network activity of any blockchain, consistently higher than Bitcoin Cash, and neck-and-neck with Litecoin. We have multiple developer teams, all of whom are committed to the long term ETC vision. We are in the top-10 in programmer activity (measured by code commits). We have numerous sources of funding, and we continue to grow, day-by-day, commit-by-commit, line-by-line of code to create a bullet-proof network that anyone can use without fear of reprisal from a highly influential minority.
Immutability. Technology. Community.
The short answer is that blockchains only work as long as everyone agrees to honor them. They are essentially rules to which everyone needs to agree, if they don't then they cannot participate, or they split into other blockchains. Splits are bad for blockchains, they make working and connecting with others difficult.
ETC takes a conservative approach to changes here, and this conservatism avoids splits and protects your money; much like Bitcoin.
ETC is new and reliable technology. It's the longest running smart blockchain in existence.
ETC is a strong and principled community. Many of our members have stuck around since the beginning. We look beyond the hype and keep to the principles that keep blockchains functioning
ETC "accounts" cannot be modified by others. This feature is a philosophy we share with Bitcoin, Litecoin, and other cryptocurrencies.
Some blockchains follow a different philosophy ("governance") which allows participants to use their social and economic power to vote on the account balances of others. Imagine if all the members of your bank believed you had broken a law. Instead of going to the police, those with the biggest balances and notoriety voted to take away your money. Imagine a system where the wealthy and celebrities have the final say over your money. A fundamental aspect of ETC is that this will never be allowed to happen, and historical precedent has demonstrated this to be the case.
ETC allows highly efficient value transfers (more so than Bitcoin and its variants), has a focus on IoT applications, and runs a mathematically verified Ethereum Virtual Machine, or EVM. What this means is that ETC is great at what it sets out to do: be a highly efficient means of exchange that connects the world's devices.
IoT features are under active development and will be available later this year.
[NEEDS MORE ABOUT IoT]
Many blockchain communities have centralized leadership, meaning a few people at the top make the decisions for everyone else. ETC's community is purposely structured to avoid this. Responsibility for development and discussion are distributed between many parties. This prevents the biased form of "governance" that other blockchains are susceptible to.