What is the purpose of Ethereum Classic?
The purpose of Ethereum Classic is to provide a decentralized platform for running smart contracts and decentralized applications (dApps).
Ethereum Classic is a continuation of the original Ethereum blockchain, which was forked in 2016 following the DAO hack. Ethereum Classic seeks to provide a secure, reliable, and censorship-resistant platform for developers to build and deploy dApps. It allows developers to create smart contracts that can be used to facilitate transactions between two or more parties without the need for a third-party intermediary.
This means that users can securely store and transfer value without relying on centralized services such as banks or payment processors. Ethereum Classic also seeks to provide an open financial system that is accessible to everyone. By using the blockchain technology, it allows users to access financial services such as lending, borrowing, trading, and investing without relying on traditional financial institutions.
This makes it easier for people in developing countries who may not have access to traditional banking services. Overall, Ethereum Classic provides an open platform for developers and users alike to create and use dApps without relying on centralized authorities or intermediaries. It also provides an open financial system that is accessible to everyone regardless of their location or economic status.
