What is Ethereum Classic?
Ethereum Classic was created as an Ethereum fork on July 30, 2015. Ethereum Classic appeared as a result of disagreement with the Ethereum Foundation regarding The DAO Hard Fork. Ethereum Classic 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. It uses proof-of-work system to create new coins. It has a block creation time of 14 minutes in average. Ethereum Classic also has transaction fees which, miners get by verifying transactions. The technology used in Ethereum Classic is mainly focused on creation of smart contracts. Ethereum Classic can handle up to 15 transactions per second.