gitr0n1n
commented
4 years ago Change:
"ETC is "digital money" that can be sent over the internet instantly and cheaply, and also be used in Ethereum Classic applications."
to
"Ethereum Classic Monetary Policy: On 11 December 2017, the total supply of Ether (ETC) on Ethereum Classic was hard capped at 210,700,000 ETC via the Gotham hard fork upgrade. This added a Bitcoin inspired deflationary emission schedule that is documented in Ethereum Classic Improvement Proposal (ECIP) 1017. The emission schedule, also known as 5M20, reduces the block reward by 20% every 5,000,000 blocks. Socially, this block reward reduction event has taken the moniker of "The Fifthening."
| Date | 5M20 Era | Block | Block Reward | Total Era Emission |
|---|---|---|---|---|
| 2015-07-30 | Era 1 | 1 | 5 ETC | 25,000,000 ETC |
| 2017-12-11 | Era 2 | 5,000,001 | 4 ETC | 20,000,000 ETC |
| 2020-03-17 | Era 3 | 10,000,001 | 3.2 ETC | 16,000,000 ETC |
| 2022-04-15 | Era 4 | 15,000,001 | 2.56 ETC | 12,800,000 ETC |
| 2024-05-07 | Era 5 | 20,000,001 | 2.048 ETC | 10,240,000 ETC |
IstoraMandiri
Change: "Ethereum Classic aka ETC aka has a number of meanings depending on usage:
Broadly, ETC refers to the Ethereum Classic Network, including the blockchain itself and the wider ecosystem and community
ETC also refers to the native currency, or base token of the Ethereum Classic Blockchain, commonly traded under the ETC ticker symbol on exchanges
In a technical context, ETC is also known as Ether or Wei"
to
"Ethereum Classic nomenclature:
"Ethereum Classic" - Ethereum Classic is an open source, blockchain-based distributed computing platform featuring smart contract (scripting) functionality. It supports a modified version of Nakamoto consensus via transaction-based state transitions executed on a public Ethereum Virtual Machine (EVM). The Ethereum Classic network consists of developers, miners, businesses, and end user.
"Ether" - Ethereum Classic's native Ether token is a cryptocurrency traded on digital currency exchanges under the ticker symbol ETC. Ether is created as a reward to network nodes for a process known as mining, which validates computations performed on Ethereum Classic's EVM.
"Gas" - Gas, an internal transaction pricing mechanism, is used to mitigate spam and allocate resources on the network.
https://deploy-preview-351--ethereumclassic.netlify.com/knowledge/what-is-etc/