Ethereum Classic Was Created by Crypto-Idealists | Blockchain Central

The video explores Ethereum Classic, a cryptocurrency that emerged from a hard fork of Ethereum due to the 2016 DAO hack. Ethereum Classic retains the original blockchain, adhering to the 'code is law' philosophy, while Ethereum chose to fork and refund the stolen funds. Both cryptocurrencies now coexist, with Ethereum being more popular and widely supported. The video also discusses the philosophical differences and current status of both blockchains.

What is a key feature of Ethereum Classic that is also present in Ethereum?

• Proof of Stake

• Smart Contracts

• Centralized Control

• Fixed Supply

What was the primary purpose of the DAO on the Ethereum network?

• To mine new Ether

• To create a new cryptocurrency

• To fund future DApps

• To centralize the network

What was the loophole in the DAO's smart contract related to?

• Token issuance

• Voting process

• Transaction fees

• Split function

What was the community's decision after the DAO hack?

• To increase transaction fees

• To conduct a hard fork

• To accept the loss of funds

• To create a new cryptocurrency

Why did some community members support Ethereum Classic over Ethereum?

• They disliked smart contracts

• They wanted lower transaction fees

• They believed in the immutability of code

• They preferred a faster network

What is a significant difference in the monetary policy of Ethereum Classic compared to Ethereum?

• Ethereum Classic supports more DApps

• Ethereum Classic has higher transaction fees

• Ethereum Classic uses Proof of Stake

• Ethereum Classic has a fixed supply

Which cryptocurrency has more corporate support and partnerships?

• Ethereum Classic

• Bitcoin

• Litecoin

• Ethereum