What are the key differences between Ethereum and Ethereum Classic and what implications do they have for the future of the Ethereum network?
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there are several key differences between the two platforms:
Origin: Ethereum was created in 2015 as a result of a hard fork from the original Ethereum blockchain, following the DAO hack. Ethereum Classic, on the other hand, continued on the original blockchain and refused the hard fork.
Purpose: Ethereum's purpose is to be a decentralized platform for the creation of applications and smart contracts, while Ethereum Classic aims to preserve the original vision of Ethereum as a decentralized platform that is resistant to censorship and interference.
Consensus Algorithm: Ethereum has switched from a proof-of-work (PoW) to a proof-of-stake (PoS) consensus algorithm, while Ethereum Classic continues to use PoW.
Development Team: Ethereum has a large and active development community, while Ethereum Classic has a smaller, but dedicated team.
Token: The native token of Ethereum is called Ether (ETH), while the native token of Ethereum Classic is called Classic Ether (ETC).
Adoption: Ethereum has a larger user base and is more widely adopted, while Ethereum Classic has a smaller but dedicated community.
Upgradeability: Ethereum has a flexible architecture that allows for frequent updates and upgrades, while Ethereum Classic aims to maintain a more stable and unchanging codebase.
