Ethereum Classic Meaning and Definition | Define What is Ethereum Classic

Ethereum Classic

Ethereum Classic is the original Ethereum blockchain that continued to operate after a controversial hard fork in 2016. The split occurred due to a disagreement within the Ethereum community over how to handle the fallout of the DAO hack, where a significant amount of Ether was stolen due to a vulnerability in a decentralized autonomous organization (DAO). The Ethereum community decided to implement a hard fork to reverse the hack, creating the Ethereum (ETH) network we know today.

Ethereum Classic (ETC), however, remained on the original blockchain, advocating for immutability, the principle that blockchain transactions should be permanent and irreversible. Despite being less popular than Ethereum, Ethereum Classic still supports smart contracts and Dapps, with a focus on maintaining the original ethos of the blockchain.

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Affiliate Program

Crypto affiliate programs offer individuals the opportunity to earn commissions by promoting cryptocurrency products and services through referral links. These programs, such as those offered by Uphold, Binance, Eightcap, and SwissBorg, provide affiliates with commissions for referring customers to cryptocurrency platforms.

Airdrop

A crypto airdrop is a promotional strategy used by blockchain startups to distribute tokens or coins to specific wallet addresses, aiming to raise awareness and increase ownership of a new cryptocurrency.

Algorithmic Peg

Algorithmic peg in the realm of cryptocurrencies refers to the mechanism used by algorithmic stablecoins to maintain a stable value, typically pegged to a fiat currency like the US dollar.

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Plena Finance supports multiple blockchain networks, allowing users to manage various cryptocurrencies, including Ethereum-based tokens. While Plena focuses on Ethereum’s more widely adopted chain (ETH), users can still explore decentralized services on Ethereum Classic and other networks through Plena’s flexible and decentralized wallet, offering a broad spectrum of blockchain interactions.