What are the features of Ethereum Classic?
Ethereum Classic (ETC) is an open-source, public, blockchain-based distributed computing platform featuring smart contract (scripting) functionality.
It provides a decentralized Turing-complete virtual machine, the Ethereum Virtual Machine (EVM), which can execute scripts using an international network of public nodes. Ethereum Classic also provides a value token called "classic ether", which can be transferred between participants and is used to compensate participant nodes for computations performed. The main features of Ethereum Classic include: 1.
Decentralized Autonomous Organization (DAO): The DAO is a decentralized autonomous organization that allows users to create and manage their own organizations on the Ethereum Classic blockchain. It allows users to create their own smart contracts and tokens, as well as manage their own funds and resources. 2.
Smart Contracts: Smart contracts are computer programs that execute automatically when certain conditions are met. They are used to facilitate, verify, and enforce the negotiation or performance of a contract without the need for third parties or intermediaries. 3.
Tokenization: Ethereum Classic supports tokenization, which allows users to create their own digital assets on the blockchain that can be used for various purposes such as fundraising or creating loyalty programs. 4. Scalability: Ethereum Classic has implemented several scalability solutions such as sharding and Plasma to increase its transaction throughput capacity and reduce transaction fees.
5. Security: Ethereum Classic utilizes advanced cryptography techniques such as Merkle trees and zero-knowledge proofs to ensure the security of its network and transactions. 6.
Privacy: Ethereum Classic offers privacy features such as ring signatures and stealth addresses that allow users to keep their transactions private from prying eyes.