Insider’s Guide to Ethereum Classic

August 20^th, 2022

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ETC Cooperative

etccooperative.org

etccooperative.org

ETC Cooperative

Bob Summerwill and the ETC Cooperative

Bob Summerwill

Executive Director

ETC Cooperative

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ETC Cooperative are a US-registered 503(c)(3) public charity, whose mission is to support and grow the ETC ecosystem.

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https://etccooperative.org

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ETC Cooperative

What is Ethereum Classic?

Bitcoin philosophy

+ Ethereum technology

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= Ethereum Classic!��“Programmable digital gold”

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ETC Cooperative

What are the characteristics of Ethereum Classic?

Like Bitcoin, ETC:

• Is digitally scarce, with a fixed supply monetary policy
• Uses Proof of Work consensus algorithm
• Values censorship resistance and trust minimization
• Values security and safety over throughput
• Protocol aims for multi-decade stability
• Is socially scalable within the ecosystem.
• Grassroots movement with no ICO or premine

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Unlike Bitcoin, ETC:

• Has rich statefulness
• Has a deterministic turing machine bounded by gas (the EVM).

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ETC Cooperative

ETC is #4 POW chain by market cap

Soon to be #3 when ETH migrates to POS.��No other major POW chains have smart contracts, so ETC will be in a unique niche.��Dogecoin is heading to POS as well.

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ETC is #3 POW chain by daily volume

Soon to be #2 when ETH migrates to POS.��ETC has great liquidity and breadth of exchange listings.

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This is a great competitive moat.

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ETC hashrate is at historical highs

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← Daily

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All-time →

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ETC Cooperative

$ETC is outperforming $ETH in 2022

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Protocol differences between ETH and ETC

Ethereum Classic is very compatible with Ethereum, having adopted the vast majority of protocol upgrades made by Ethereum since the time of the fork.

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Differences:

• The DAO fork never happened on ETC - so the DAO is still present
• The difficulty bomb was disabled.
• A fixed monetary policy was introduced in 2017, so future emissions are known and unchanging.
• ETC will not be transitioning to POS, but will remain POW mined
• The EIP-1559 fee market changes in Ethereum were not adopted (because of the fixed monetary policy)

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Aside - What about ETHW? It is a bad ETC clone :-)

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ETC Cooperative

�Mining ETC and understanding ETC security

• It is very easy for Ethereum miners to migrate to ETC
• Many pools support both ETH and ETC pools
• Mining algorithm is Etchash vs Ethash
• https://github.com/eth-classic/etchash
• Only difference is that the DAG size is smaller on ETC
• 4GB and 5GB cards can still mine ETC.
• MESS is an overlay on Nakamoto Consensus which makes long-range reorgs very expensive

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Isaac, our Technical Lead, has written an excellent document analyzing the risk profile for 51% attacks on ETC, including some great interactive calculators:

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• https://meowsbits.github.io/51-percent-docs/

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ETC Cooperative

�About Core-Geth and Besu

• Core-Geth is a Geth fork which adds ETC support
• Two core developers, who both work for ETC Cooperative
• Working downstream, with contributions upstream to Geth
• Added Parity-style tracing support
• Full test suite always run, so could sync ETH with Core-Geth�
• Hyperledger Besu has ETC work happening in the mainline
• Code hosted by Hyperledger Foundation
• The codebase used by ETH, ETC and also for Enterprise Ethereum use-cases (ie. consortium and private chains)

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ETC Cooperative

�Public endpoints, BlockExplorer, Discord, Website

• BlockScout instances for ETC mainnet and Mordor and Kotti testnets.
• Public RPC endpoints hosted by Rivet, hitting hundreds of millions of calls per month - heading for 1B+ soon.
• Gnosis Safe instance coming soon.
• Two very active DEXes - Etcswap and Hebeswap - plus pegged stablecoins.
• Lots of NFT projects
• Two Discord instances
• Community website:�https://ethereumclassic.org

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ETC Cooperative

Call to action:

Please come and join us and build on Ethereum Classic!

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https://ethereumclassic.org

https://etccooperative.org

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@bobsummerwill, @ETCCooperative and @eth_classic on Twitter.��And the two Discord servers:�https://ethereumclassic.org/discord

https://discord.gg/5wDyd6u6pU

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ETC Cooperative

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ETC Cooperative