|19:50:02 IST, 11 Oct||₹4,212.87||↓58.13|
|16:50:03 IST, 11 Oct||₹4,271.00||0.00|
|13:50:04 IST, 11 Oct||₹4,271.00||↑71.00|
|10:50:02 IST, 11 Oct||₹4,200.00||↑6.16|
|07:50:01 IST, 11 Oct||₹4,193.84||↑38.08|
|04:50:02 IST, 11 Oct||₹4,155.76||0.00|
Ethereum Classic is a blockchain from an Ethereum chain split. In July 2016, the team behind Ethereum decided to fork after the piracy of a smart contract that resulted in the diversion of nearly 10% of ethers in circulation at this time. This fork cancels the hacking and gives back the funds to the owners.
Ethereum Classic started from 1,386 INR on 8th September 2017 and climbed up to 845,88 INR on 30th September 2017 .
And at 832,73 INR on 1st October 2017, Ethereum Classic finally took a spin and dropped down at 687,68 INR on 31st October 2017 which was a slow pick up.
And at 661,74 INR on 1st November 2017, Ethereum Classic finally sprung up to 1,826 INR on 30th November 2017.
And at 1,990 INR on 1st December 2017, Ethereum Classic finally was spotted at 1,667 INR on 31st December 2017.
Initial price on 1 January 2018 was INR 1923.01 and then Ethereum Classic finally reached INR 1686.98 on 31 January 2018.
Starting off on 1 February 2018 at INR 1782.26, Ethereum Classic was trading at INR 2210.28 on 28 February 2018.
Ethereum Classic (ETC) was born asa division within the Ethereum community following the piracy of "TheDAO" in June 2016. It is a Cryptocurrency derived from a Hard Fork, that is to say a "modification" of the Blockchain Ethereum.
During the "TheDAO" Crowdfunding, a flaw in a smart contract allowed a pirate to siphon the equivalent of 50 million USD in Ethereum.
A modification of the Blockchain was then proposed by the development team, to cancel the transfer to the address of the hacker. The new consensus being accepted by a large majority of miners, the new Blockchain is called Ethereum and the old one was renamed Ethereum Classic.
Supporting community members of Ethereum Classic insist that applications scheduled on the Blockchain Ethereum must be irreversible and must not be modified or censored.
So why did people stand at an old chain when all of Ethereum's heavyweights, including founders Vitalik Buterin and Gavin Wood, switched to the new channel? Well, the answer to that is more philosophical. You see when Ethereum, and cryptocurrency in general, was introduced, it was supposed to fight against financial corruption. They wanted the system to be resilient against human quirks, which is why the blockchain was made immutable.
That's why for many ETC supporters, Hard Fork is a practical escape, if you change the whole chain with a hack, then that goes first, completely against the purpose of Ethereum. You prove that the blockchain can be affected by human quirks. And this has been echoed by many "crypto-idealists. Some majors like Barry Silbert, the CEO of Grayscale, put themselves on ETC's side.