Ethereum Classic (ETC) has long stood as a foundational pillar in the blockchain ecosystem, representing an unwavering commitment to decentralization, immutability, and trust-minimized systems. In February 2023, Forbes published an article titled "What Is Ethereum Classic?", authored by Dan Ashmore and edited by Michael Adams. While the piece attempts to explain ETC’s origins and differences from Ethereum (ETH), it perpetuates long-standing misconceptions that obscure the true nature of Ethereum Classic.
This article provides a detailed, fact-based response to correct those inaccuracies, clarify key technical and philosophical distinctions, and reaffirm why ETC remains a vital player in the future of blockchain technology.
What Is Ethereum Classic? Correcting the Narrative
The Forbes article states:
“Ethereum Classic was created by forking the original Ethereum blockchain. Like many other blockchain forks, ETC was created due to ideological and technical disagreements within the community.”
While blockchain forks do result in divergent chains, this framing misleadingly suggests that Ethereum Classic was the new chain created during the 2016 split. In reality, Ethereum Classic is the original, unaltered Ethereum blockchain that launched on July 30, 2015.
When the DAO hack occurred in June 2016, a portion of the community advocated for a hard fork to reverse transactions and return stolen funds. That fork gave rise to what we now know as Ethereum (ETH) — a chain with an irregular state change. Meanwhile, those who upheld the principle of "code is law" continued on the original chain, which became Ethereum Classic (ETC).
👉 Discover how Ethereum Classic preserves true blockchain integrity.
This distinction is fundamental: ETC didn’t emerge from a breakaway; it is the continuation of Ethereum’s original vision — immutable, censorship-resistant, and permissionless.
Ethereum Classic and the DAO Hard Fork: Getting the History Right
The article correctly notes:
“Due to the scale of the hack, some members proposed reversing the ETH blockchain… Others argued this would set a dangerous precedent… A vote was held, and over 85% supported the fork.”
This accurately reflects the community split. However, it contradicts earlier implications that ETC was the newly created chain. The truth is clear: ETC represents continuity, while ETH represents a departure from the original protocol's immutability.
The decision to preserve transaction history without rollback wasn’t about stubbornness — it was about preserving blockchain integrity. Once a blockchain allows retroactive changes, it opens the door to censorship and centralized control.
Ethereum vs. Ethereum Classic: Technical Similarities and Philosophical Differences
The Forbes article acknowledges:
“At a basic functional level, Ethereum and Ethereum Classic are very similar.”
This is accurate. Both chains support smart contracts, decentralized applications (dApps), and use the Ethereum Virtual Machine (EVM) standard. Developers can often deploy code across both platforms with minimal changes.
However, the divergence lies beneath the surface:
- Consensus Mechanism: Ethereum transitioned from Proof-of-Work (PoW) to Proof-of-Stake (PoS) in September 2022 (“The Merge”). ETC remains committed to PoW.
- Network Participation: Running a node or mining on ETC requires different infrastructure than validating on ETH.
- Immutability Focus: While both upgrade their protocols, ETC prioritizes stability and resistance to state manipulation.
Despite these differences, ETC actively integrates Ethereum Improvement Proposals (EIPs) and stays aligned with advancements in the broader EVM ecosystem. It does not resist change — it resists compromises to security and decentralization.
Proof-of-Work vs. Proof-of-Stake: A Security Perspective
One of the most critical misrepresentations in the article involves consensus security:
“Supporters of the merge believe PoS is more sustainable… Opponents argue PoW is more secure and decentralized.”
This understates a crucial point: Proof-of-Work is objectively more secure than Proof-of-Stake.
Here’s why:
- Decentralized Consensus: PoW relies on computational work and electricity costs, creating a trustless mechanism for agreement across nodes.
- Censorship Resistance: After The Merge, Ethereum showed signs of centralization — over 60% of blocks were censored at times due to reliance on centralized validators.
- No Trusted Third Parties: In PoS, nodes must consult external sources to verify chain validity, introducing trusted intermediaries — a direct contradiction to blockchain’s core ethos.
- Monetary Scarcity: Mining new coins under PoW is costly, mirroring commodity scarcity like gold. In PoS, creating new tokens approaches zero cost — akin to fiat money creation.
👉 Learn how Proof-of-Work ensures true decentralization.
ETC’s adherence to PoW ensures it remains one of the few truly trust-minimized blockchains in existence.
Miner Migration Post-Merge: Why ETC Gained Attention
It’s true that after The Merge:
“Miners turned to Ethereum Classic… Hash rate increased by 280%.”
But Forbes incorrectly links this surge to staking pools or Tornado Cash sanctions. The real reason? Massive displacement of mining hardware.
When Ethereum abandoned PoW, thousands of ASICs and GPUs were left obsolete — except for one major use case: Ethereum Classic, the largest remaining PoW smart contract platform.
This migration wasn’t ideological — it was practical. Miners sought viable networks to deploy their capital-intensive equipment. ETC filled that gap perfectly.
Ideological Clarity: Not Just a "Philosophical Split"
The article frames the divide as:
“Cryptocurrency purists favor freedom and decentralization; pragmatists prefer adaptability.”
This framing trivializes a deeper truth: blockchain without immutability isn’t blockchain at all.
ETC’s model allows anyone, anywhere — even in restrictive regimes like China — to mine freely. There are no identity requirements, no minimum stake locks, no geographic constraints.
In contrast, PoS systems inherently favor large stakeholders and regulated entities. They create static validator sets that are easy targets for regulatory capture.
Calling this a mere "ideological difference" misses the point: ETC upholds Satoshi Nakamoto’s original vision — minimizing trust in third parties.
Debunking the Energy Consumption Myth
The claim that:
“PoS reduced Ethereum’s energy consumption by 99.9%… ETC miners remain huge energy consumers”
— while technically true in isolation — ignores broader context.
Proof-of-Work isn’t wasteful; it’s purposeful. Here’s why:
- Supports Renewable Energy: PoW provides stable demand for wind and solar power, helping make green energy economically viable.
- Utilizes Stranded Energy: Miners often operate near excess hydroelectric or flared natural gas sites — turning waste into value.
- Captures Methane: Some mining operations now convert methane emissions into electricity, achieving negative carbon footprints.
- Secures Billions in Value: The energy spent protects trillions in digital assets — comparable to traditional financial infrastructure.
- Drives Innovation: High energy efficiency per dollar spent makes PoW one of the most optimized industries globally.
Rather than harming the planet, PoW incentivizes cleaner energy adoption and grid stability.
Scalability: It’s Not What You Think
The article claims:
“ETC’s inflexible code limits scalability… Developers aren’t optimistic.”
This misunderstands modern blockchain architecture.
Scalability isn’t solved on Layer 1 — it’s achieved through layered design:
- Layer 1 (Base Layer): Secure, decentralized settlement (e.g., ETC or BTC).
- Layer 2 (Scaling Layer): High-throughput networks (e.g., rollups) built on top.
ETC doesn’t need to process thousands of transactions per second natively. Instead, it serves as a secure anchor where Layer 2 solutions settle final proofs — exactly how scalable financial systems evolve.
Furthermore, ETC actively adopts upgrades like the EVM Object Format (EOF) to improve efficiency and developer experience.
Market Position and Future Outlook
While Forbes notes:
“ETH has a $200B market cap vs. ETC’s $3.1B,”
— it overlooks structural shifts underway.
Post-Merge, Ethereum became less of a base layer and more of a coordination layer for staking and governance. Meanwhile, ETC has solidified its role as the premier PoW smart contract chain.
As awareness grows around:
- Risks of centralization in PoS systems,
- Importance of censorship resistance,
- Need for immutable settlement layers,
— ETC is well-positioned to rise in relevance and valuation.
Many analysts believe ETC could become a top-four blockchain as markets mature and prioritize security over short-term scalability promises.
👉 See how Ethereum Classic compares in today’s evolving crypto landscape.
Should You Invest in Ethereum Classic?
The article concludes:
“Unless ETC solves more issues or ETH faces unexpected setbacks, its rise remains distant.”
This view fails to recognize that ETC already solves critical problems:
- True decentralization via PoW,
- Immutable transaction history,
- Resistance to regulatory capture,
- Compatibility with EVM tooling,
- Growing hash rate and miner support.
Investing in ETC isn’t a bet against ETH — it’s a bet on diversification, long-term security, and principled technology.
Frequently Asked Questions (FAQ)
Q: Is Ethereum Classic just a copy of Ethereum?
A: No. While both share EVM compatibility, ETC maintains the original Ethereum chain's immutability and continues using Proof-of-Work — making it fundamentally distinct in philosophy and function.
Q: Can Ethereum Classic scale for mass adoption?
A: Yes — through Layer 2 solutions like rollups and sidechains. Like Bitcoin, ETC prioritizes security at Layer 1 while enabling high throughput off-chain.
Q: Why does ETC still use Proof-of-Work?
A: Because PoW offers superior decentralization, censorship resistance, and trust minimization — core tenets of blockchain technology that PoS cannot replicate.
Q: Did ETC resist all upgrades?
A: No. ETC regularly implements non-consensus-breaking improvements and adopts key EIPs to stay technologically current while preserving network integrity.
Q: Is ETC vulnerable after miner influx post-Merge?
A: On the contrary — increased hash rate strengthens network security. ETC became more resilient with greater mining participation.
Q: Will ETC ever switch to Proof-of-Stake?
A: Highly unlikely. The community strongly opposes such a move, viewing PoW as essential to ETC’s identity and value proposition.
Final Thoughts
Ethereum Classic isn’t clinging to the past — it’s safeguarding the future of decentralized systems. While narratives shift and trends come and go, ETC remains anchored in principles that define what blockchain should be: immutable, permissionless, and resistant to control.
As the crypto world grapples with centralization risks and trust dependencies, Ethereum Classic stands as a living testament to blockchain’s original promise.
Core Keywords: Ethereum Classic, Proof-of-Work, blockchain immutability, decentralized networks, EVM compatibility, censorship resistance, trust minimization