When Was Ethereum Classic First Proposed? A Simple Timeline

 

When Was Ethereum Classic First Proposed? A Simple Timeline

Cryptocurrencies are often a mix of groundbreaking innovation, high-stakes drama, and fascinating stories. Ethereum Classic (ETC), one of the most well-known blockchain projects, has a history as compelling as its technology. It’s the result of a philosophical disagreement that split the Ethereum community in two. To understand Ethereum Classic's origins, let’s take a journey through a simple timeline of its proposal, development, and eventual launch.

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What is Ethereum Classic?

Before diving into its history, it's important to understand what Ethereum Classic represents. Ethereum Classic is a blockchain platform that enables decentralized applications (dApps) and smart contracts, just like Ethereum (ETH). However, Ethereum Classic prides itself on maintaining immutability—a commitment to keeping the blockchain's history unchanged, no matter what.

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The Birth of Ethereum and the DAO

July 2015: Ethereum Goes Live

Ethereum, the brainchild of Vitalik Buterin and a team of visionary developers, officially launched in July 2015. With its ability to execute smart contracts, Ethereum quickly became a favorite in the crypto world.

April 2016: The DAO is Created

In early 2016, a revolutionary idea called "The DAO" (Decentralized Autonomous Organization) emerged on the Ethereum blockchain. The DAO was essentially a decentralized venture capital fund. It raised over $150 million worth of Ether (ETH) from thousands of investors, showing the world the power of Ethereum’s smart contract system.

However, with great power came great vulnerabilities.

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The Crisis: Ethereum’s First Major Hack

June 2016: The DAO is Hacked

In June 2016, a hacker exploited a flaw in The DAO's code, draining 3.6 million ETH—worth about $60 million at the time. The Ethereum community faced a critical decision:

• Option 1: Allow the hacker to keep the stolen funds, honoring the principle of blockchain immutability.
• Option 2: Roll back the blockchain to before the hack and restore the stolen ETH.

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When Was Ethereum Classic First Proposed?

July 2016: Ethereum Hard Fork Proposal

The Ethereum community decided to move forward with a hard fork, a process that would effectively reverse the hack. But not everyone agreed. A group of developers and users argued that tampering with the blockchain—no matter the reason—violated the core principle of immutability.

This group proposed maintaining the original, "unforked" Ethereum blockchain. Their proposal was simple: stick to the original chain and let the consequences of the hack remain intact. This chain became known as Ethereum Classic (ETC).

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The Hard Fork and the Birth of Ethereum Classic

July 20, 2016: The Ethereum Hard Fork Occurs

On July 20, 2016, Ethereum officially split into two separate blockchains:

• Ethereum (ETH): The forked chain where the stolen ETH was returned.
• Ethereum Classic (ETC): The original chain that upheld the principle of immutability.

This marked the official launch of Ethereum Classic as its own blockchain project.

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Key Differences Between Ethereum and Ethereum Classic

The split wasn’t just technical—it was ideological. Ethereum Classic became a rallying point for those who believed in a "code is law" philosophy. Here are some key differences:

Feature	Ethereum (ETH)	Ethereum Classic (ETC)
Philosophy	Flexible, prioritizing community consensus	Immutable, emphasizing "code is law"
Development	Continues to evolve with upgrades like Proof of Stake	Maintains Proof of Work
Community Support	Larger developer and user base	Smaller, but dedicated community

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The Legacy of Ethereum Classic

Despite its smaller market share, Ethereum Classic remains an important part of the blockchain ecosystem. It serves as a reminder of the ideological debates that shape the crypto world.

Key Milestones After the Split

• 2017: Ethereum Classic implements upgrades to improve scalability and security.
• 2020: ETC suffers a series of 51% attacks, raising concerns about its security.
• 2023: Ethereum Classic maintains its Proof-of-Work system, even as Ethereum transitions to Proof-of-Stake.

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Why Does Ethereum Classic Matter Today?

Ethereum Classic is more than just a blockchain—it’s a symbol of how communities navigate challenges, disagreements, and ethical dilemmas. Its commitment to immutability keeps it relevant in debates about blockchain integrity, even as Ethereum and other chains innovate at breakneck speed.

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Final Thoughts

The proposal for Ethereum Classic was born from a desire to uphold the foundational principles of blockchain technology. While it may not be as widely adopted as Ethereum, its legacy is a powerful reminder of the importance of transparency, integrity, and community-driven decision-making in the crypto world.

As we look back on the history of Ethereum Classic, it’s clear that this project is more than just an offshoot—it’s a testament to the resilience and diversity of the blockchain ecosystem.

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FAQs

1. When was Ethereum Classic first proposed?
Ethereum Classic was first proposed in July 2016, during the debates surrounding the DAO hack and the Ethereum hard fork.

2. What makes Ethereum Classic different from Ethereum?
The primary difference is philosophical. Ethereum Classic maintains blockchain immutability, while Ethereum prioritizes adaptability and community consensus.

3. Is Ethereum Classic still relevant today?
Yes, Ethereum Classic remains active, especially among those who value immutability and Proof-of-Work systems.

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By understanding Ethereum Classic’s history, we gain insight into the broader dynamics of blockchain development and the enduring debates that shape this revolutionary technology.

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