Ethereum Classic is the same Ethereum, which is not particularly different. It is a platform for decentralized applications based on the Proof-of-Work consensus algorithm. 

Ethereum is an ecosystem based on smart contracts. A DAO is a decentralized autonomous organization, a single smart contract that performs a specific function. There are now dozens of new startups based on Ethereum, but in 2015 DAO was supposed to be the first autonomous organization whose idea was a venture capital fund. 

The idea was that the app would act as a funding source for other Ethereum-based startups. 

The principle of its operation is as follows: 

A team of developers proposes a startup idea; 
Mentors, who are well-known figures from the Ethereum team, approve or reject the project; 
DAO token holders vote for or against the project. If a startup gets 20% of the votes, its money goes to fund it. 

In 2015, Ethereum was beginning to test its system, and the first pancake was a bit of a bump in the road.

In the 28 days of DAO's existence, the project, launched in full mode in the spring of 2016, raised more than $150 million.

The project raised $150 million in the air (about 14% of the tokens issued then)—the shocked on June 17, 2016. The app turned out to have a weakness. It was enough to add a recursive function to the request to output tokens to Ethereum, so the system withdrew one-third of the existing balance (about $50 million) to hackers. 

 

Anonymity, transparency, and decentralization are the pillars on which the image of cryptocurrency rests—rolling back the blockchain meant directly violating at least the third principle.

And it was not just a violation of decentralization but also of the fact that it turned out to be a blockchain that could be managed manually. The money was saved, the reputation was preserved, and the dissenters split off into Ethereum Classic due to the hard fork. 

who accepts ETC

Ethereum Classic is a blockchain created in 2016 as part of the Ethereum hard forward. The Ethereum Classic project is an extension of the original Ethereum blockchain, but unlike its competitors, it is more decentralized. The platform supports smart contracts, and its unit of account is the cryptocurrency ETC. 

Ethereum's main mission is to


 Decentralize and censor the core blockchain, giving freedom to users and miners;
 To make Etherium the central computer of the worldwide network that cannot be shut down so that smart contracts are constantly running on it for ease of use;
 strict separation of functionality, where forks are only used to fix system malfunctions and possible bugs in time;


 To make a censor-proof platform that everyone can trust.


In early 2017, Die Hard was organized to help eliminate coin complexity bombs. There are no plans to switch to the Proof of Stake system, unlike the main Ethereum coin.

But despite this fact, programmers and IT specialists are developing new protocols for Ethereum Classic.