Ethereum Classic

What is Ethereum Classic?

Ethereum Classic is the continuation of the original Ethereum blockchain that refused the 2016 rollback after the DAO hack. It runs Ethereum-style smart contracts but, unlike Ethereum, is still secured by proof-of-work mining and has a capped supply of about 210.7 million ETC.

What it’s used for

Most ETC activity is trading, holding and mining with GPUs and ASICs, especially since Ethereum stopped mining in 2022. A small number of smart-contract apps run on the chain. Some holders value ETC mainly for its fixed supply schedule and its refusal to roll back history.

Role of the ETC token:

Evidence of real use

• Ethereum Classic suffered two 51% attacks in January 2019 and three in August 2020. Source
• Under the ECIP-1017 '5M20' policy, ETC's block reward fell 20% to 1.6384 ETC at block 25,000,000 in 2026. Source
• The planned Olympia upgrade, which would add EIP-1559 fee burning and on-chain treasury funding, targets mainnet activation before 2027. Source

How Ethereum Classic works

Ethereum Classic shares Ethereum's history up to July 2016. When attackers drained a large investment fund called The DAO, most of the Ethereum community chose a hard fork that moved the stolen ether back. A minority kept running the original chain unchanged, arguing that 'code is law' and that history should not be edited. That original chain is Ethereum Classic.

ETC runs the Ethereum Virtual Machine, so contracts, wallets and tools built for Ethereum generally work on it with few changes. The big difference is security: Ethereum moved to proof of stake in 2022, while ETC is still secured by miners using the Etchash algorithm. Miners compete to add a block about every 13 seconds and earn ETC rewards plus the fees paid by users.

Because ETC's hashrate is far smaller than Bitcoin's, it is cheaper for an attacker to rent enough computing power to rewrite recent blocks. That happened in 2019 and 2020, when attackers reversed deposits they had made at exchanges and kept the coins. In response, many exchanges sharply raised the number of block confirmations they require before crediting ETC deposits, which is why ETC transfers to exchanges can take a while.

Key moments

1. 2016Ethereum hard forks after the DAO hack in July; the unforked chain continues as Ethereum Classic.
2. 2017ETC adopts the '5M20' monetary policy, capping total supply at about 210.7 million coins.
3. 2019The network suffers 51% attacks in January that enable double-spends against exchanges.
4. 2020Three more 51% attacks hit ETC in August; the network later switches its mining algorithm to Etchash.
5. 2022Ethereum's switch to proof of stake leaves ETC as the largest proof-of-work smart-contract chain and brings in displaced miners.
6. 2026The block reward drops 20% at block 25,000,000; the Olympia upgrade with fee burning is planned for activation before 2027.

Supply

ETC follows the '5M20' policy: every 5 million blocks, roughly every two to two and a half years, the block reward drops by 20 percent. This caps total supply at about 210.7 million ETC. After the 2026 reduction miners receive 1.6384 ETC per block; there is currently no fee burn, though the planned Olympia upgrade would add one.

Risks to understand

• 51% attack risk: ETC's relatively low hashrate makes it cheaper to attack than larger proof-of-work chains, and it has happened before.
• Limited ecosystem: few developers and apps choose ETC over Ethereum and its layer 2s.
• Miner economics: each reward cut lowers miner income, which can reduce hashrate and security if fees and price do not make up the difference.
• Upgrade risk: Olympia would introduce new fee and treasury rules, and contentious upgrades on small chains can split communities.
• Price volatility and exchange support: ETC can move sharply, and trading support varies by exchange.

Last reviewed October 4, 2026 by The Crypto Guide editorial team. Utility Lens ratings are editorial judgments, not investment advice. Market data from CoinGecko. Spot an error? Request a correction.