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Ethereum Classic (ETC) is a cryptocurrency that was created in 2016 as a result of a hard fork in the Ethereum blockchain. In this article, we will take a deep dive into the history of Ethereum Classic, its founders, and current events surrounding the project.

History of Ethereum Classic

Ethereum Classic was created in July 2016, as a result of a hard fork in the Ethereum blockchain. The hard fork was caused by a disagreement among members of the Ethereum community over how to respond to the DAO (Decentralized Autonomous Organization) hack.

The DAO was a decentralized investment fund that was created on the Ethereum blockchain. It raised over $150 million in Ether (ETH) through an initial coin offering (ICO) in May 2016. However, just a few weeks later, the DAO was hacked, resulting in the theft of over $50 million worth of Ether.

In response to the hack, the Ethereum community was divided over how to proceed. Some members of the community argued that the code should be modified to restore the stolen funds to their rightful owners, while others argued that the code should not be modified, as this would go against the principles of immutability and decentralization that underpin the Ethereum blockchain.

Eventually, the community decided to move forward with a hard fork, which would create a new version of the Ethereum blockchain with the modified code. However, a small group of Ethereum users opposed the hard fork, arguing that it went against the principles of immutability and decentralization.

These users continued to operate on the original version of the Ethereum blockchain, which became known as Ethereum Classic.

Founders of Ethereum Classic

The founders of Ethereum Classic are not well-known, as the project was created as a result of a community-led initiative. However, there are a number of key figures who have played important roles in the development of the project.

One of these figures is Charles Hoskinson, a blockchain entrepreneur who was one of the co-founders of Ethereum. Hoskinson was a vocal opponent of the hard fork that led to the creation of Ethereum Classic, and he has since become a prominent advocate for the project.

Another key figure in the Ethereum Classic community is Anthony Lusardi, the founder of the Ethereum Classic Cooperative. The Cooperative is a non-profit organization that is dedicated to promoting the use and adoption of Ethereum Classic.

Current Events Surrounding Ethereum Classic

Since its creation in 2016, Ethereum Classic has continued to develop and evolve. One of the most significant developments for the project in recent years has been the launch of the Emerald Wallet.

The Emerald Wallet is a multi-cryptocurrency wallet that was specifically designed for use with Ethereum Classic. It provides users with a range of features and capabilities, including support for multiple wallets, an integrated exchange, and a range of security features.

Another significant development for Ethereum Classic has been the launch of the Ethereum Classic Labs accelerator program. The program is designed to support the development of new projects and startups that are building on the Ethereum Classic blockchain.

In addition to these developments, Ethereum Classic has also seen a range of new partnerships and collaborations in recent years. For example, in 2020, the project announced a partnership with ChainSafe, a blockchain development company that is working on a range of projects in the decentralized finance (DeFi) space.

Looking ahead, Ethereum Classic has a number of new initiatives in the pipeline. For example, the project is working on a new consensus algorithm, which is designed to improve the scalability and security of the Ethereum Classic blockchain.