About Ethereum Classic (ETC)

What is Ethereum Classic (ETC) in plain words?

Ethereum Classic is basically the “original Ethereum.” When Ethereum rolled back the chain after the 2016 DAO hack, a group said no — code should stay final. That protest became ETC. It runs on proof-of-work, same as old-school Bitcoin, and sticks hard to principles like immutability and open verification.

How’s the ETC token structured?

ETC runs on a capped supply — 210.7 million tokens total, fixed since 2017. Every 5 million blocks, rewards drop 20%. People call that the “fifthening.” It’s a slow squeeze on supply meant to mimic Bitcoin’s scarcity, only with its own timeline and rhythm.

Did Ethereum Classic ever hold an ICO?

Nope. There wasn’t a token sale or investor round. ETC came out of the chain split, so holders of ETH before the fork got matching ETC. Everything else came through mining. No early backers, no venture rounds — just a community choosing to keep the original chain alive.

Who’s actually behind ETC now?

There’s no single company. Multiple dev collectives maintain it — ETC Core, ETC Cooperative, and other open-source contributors. Funding comes from grants and donations, not venture capital. You might say it’s one of the few big networks still truly “community-run.”

What’s with the “fifthening” thing?

Every 5 million blocks, ETC’s block rewards shrink by one-fifth. It’s a built-in slowdown for new token creation. The latest fifthening, mid-2024, dropped rewards to 2.048 ETC per block. It’s not exciting to watch, but long-term holders love that slow-burn scarcity.

Where can someone trade the coin?

Almost anywhere you’d expect: Binance (ETC/USDT), Coinbase (ETC/USD), Kraken (ETC/EUR), Uniswap (ETC/ETH). ETC’s been around so long it’s basically a default listing. That said, liquidity leans toward the big CEXs — DeFi activity is modest in comparison.

How active is Ethereum Classic these days?

It’s steady, not flashy. The Thanos upgrade in 2020 helped small miners rejoin, and the fifthening keeps emissions lean. There’s no massive DeFi or NFT boom here — ETC plays the long game on stability and security over experimentation. Some might call that boring, others reliable.

What’s next for the project?

The roadmap’s pretty clear: keep executing ECIP-1017, strengthen 51% protections, and build cross-chain bridges for future interoperability. There’s no “next big hype” moment promised — just consistent groundwork to keep the chain alive and solid.

Any real risks worth noting?

Plenty. ETC’s smaller hashpower makes it more exposed to 51% attacks. PoW energy debates could turn political, and the ecosystem isn’t as liquid as Ethereum’s. Still, for some, that risk is the point — a purist’s chain surviving in a world full of shortcuts.

So why does ETC still matter at all?

Because it refused to rewrite history. When others forked to “fix” a hack, ETC held the line: code is law. That moment defined its identity — stubborn, principled, maybe even contrarian. Whether you agree or not, it’s part of crypto’s origin story that just won’t fade.