What is Ethereum Classic

What is Ethereum Classic? 

Ethereum classic nodes are now available on Blockdaemon in a full/dedicated* node format.

Blockdeamon now provides full end-to-end node management and support for Ethereum Classic, a blockchain network true to the original vision and mission of Ethereum

*What is a dedicated node?

What does true to the original mission of Ethereum mean?

Ethereum Classic is used by a global network of miners, developers and supports smart contract capabilities, meaning developers can build, deploy and execute programmable blockchain applications across their network.

Eth Classic is completely immutable, meaning all changes to the ledger are final and irreversible. This means that users are guaranteed that any amends to the ledger are final.

What is the difference between Ethereum and Ethereum Classic?

Ethereum Classic was born after the DAO Hack 2016. This exploit seized upon then-existing flaws in Ethereum’s code. The main Ethereum developers forked the chain via a hard fork. This transitioned the code to an entirely new ledger. However, Ethereum Classic continued as the original chain with the belief that all transactions should be final. This version of the chain was preserved by those involved in the project who believed in the ethos of immutability. This means that while most development takes place on Ethereum as we know it today, Ethereum Classic still retains the original functionality of the blockchain as it was at its inception in 2015.

What is the consensus algorithm?

Ethereum Classic relies on Proof of Work (pow) to achieve consensus. This is the same as what Ethereum uses today to execute transactions. However, unlike Ethereum no upgrade to a Proof of Stake network is planned. Ethereum Classic will remain a Proof of Work blockchain.