What Is Ethereum Classic? Ethereum Classic is an open-source, decentralized, blockchain-based distributed cryptocurrency platform that runs smart contracts. Ethereum Classic was formed in 2016 as a result of a hack of the network. The original Ethereum blockchain was split in two with Ethereum Classic being the original and Ethereum being the newer blockchain. Based on the principle of “Code is Law,” smart contracts are self-executing autonomous digital applications, which are capable of running on their own as programmed.
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