Ethereum Classic to be halved on May 31 — TradingView News

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Ethereum Classic is estimated to be halved between May 27 and June 11.

ETC information

Ethereum Classic EETC is a hard fork of Ethereum ETHUSD, launched in July 2016 in direct response to a major security breach. It serves as a smart contract network, capable of hosting decentralized applications (DApps). Its creation was based on preserving the original Ethereum blockchain without reversing the effects of the DAO hack, emphasizing the immutability and integrity of the blockchain.

Ethereum Classic operates using a Proof-of-Work (PoW) consensus algorithm, similar to the original Ethereum before its move to Proof-of-Stake (PoS). This choice reflects ETC’s commitment to traditional blockchain principles, including decentralization and security. The network supports the development and deployment of DApps and smart contracts, with the aim of offering a stable and unchanged protocol to developers and users. Its governance is more decentralized, with the community playing an important role in decision-making processes.

Ethereum Classic’s native token, ETC, is used for transaction fees and as a reward for miners on the network. Unlike its Ethereum counterpart which has evolved towards a PoS consensus algorithm, Ethereum Classic continues to strengthen its PoW mechanism. ETC has found support from a faction of users and investors who champion Ethereum’s original philosophy, particularly in terms of immutable transactions and a more traditional approach to blockchain governance.

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