Ethereum Classic is an open source, blockchain-based distributed computing platform featuring smart contract functionality. It supports a modified version of Nakamoto consensus via transaction-based state transitions executed on a public Ethereum Virtual Machine.

Ethereum Classic is more than a price, more than a blockchain and more than a currency. Ethereum Classic’s true power and meaning is defined by those who stand behind it.

It helps to understand Ethereum Classic Better by reading a few statements that express their principles:

The best way for a protocol to avoid control by a particular group of people is to change as little as possible.

Any time you have a fairly large number of changes, and the more open to suggested changes you are, there is a possibility for special interest groups to promote and support what they want to see, for their own benefit.

The highest purpose of blockchains, such as Bitcoin and Ethereum Classic (ETC), is trust minimization, which means to prescind of trusted third parties when managing people’s and businesses’ money, property, and agreements.

By sticking with Proof of Work, ETC has become the primary smart contract platform that preserves the fundamental innovation of the blockchain industry: Nakamoto Consensus.

“Proof of work enables consensus by merit, free choice, and adoption, not by voting.”

The goal for ETC is multi-decade stability. That kind of stability is key for businesses to build on top of that chain, because they know that things aren’t going to change underneath them and break their use-cases.

If history is anything to go by, attempts will be made to stifle the adoption of empowering new technologies.

Projects that are not sufficiently decentralized, those that are not Sovereign Grade, will become captured by the very institutions they promise to disrupt.

This is why Code is Law and the high degree of decentralization required to underpin it must be the primary goal of blockchains that wish to survive and provide long term value.

“Why Classic: Code is Law”

Bob Summerwill, “POS systems are nothing new. All existing systems are POS in some form. POW is the revolution and something you just cannot replace.”

Community Hope:  Ethereum Classic will bare the fruit of it’s long-term orientation, censorship resistance, and sound money policy. Future generations will continue to reap the rewards of the work we do today.