Conor Grogan tracked down $322,000 of dormant Ethereum Classic and returned it to its owner, who was unaware the money ever existed.
Ethereum Classic News
Ethereum Classic is a blockchain-based smart contract platform for powering decentralized applications, or DApps.
This blockchain and its native cryptocurrency, ETC, are the result of a split in the Ethereum network following the infamous DAO hack of July 2016, in which an attacker compromised 3.6 million Ether (ETH) — one of the largest hacks in history — creating a rift in the Ethereum community on how to respond: accept the hack had happened and fully commit to the ethos of censorship-resistance and immutability, or gauge community sentiment informally and save the funds through a hard fork. Supporters of the first option maintained the legacy chain and transaction record after the fork, resulting in Ethereum Classic.
While the network is cross-compatible with Ethereum applications, with shared architecture and programming language support, the network later adapted a completely new monetary policy and design roadmap from its progenitor. In March 2017, Ethereum Classic adopted a fixed supply cap and ETC issuance rate more similar to Bitcoin than Ethereum. The network has also committed to proof-of-work consensus in contrast to Ethereum’s long-planned transition to proof-of-stake.
The purported sales are the latest measures the embattled firm has taken following moves in recent months to raise capital and preserve liquidity.6760
Grayscale’s Ethereum, Litecoin and Bitcoin Cash Trusts are at steep discounts as concerns whirl around Digital Currency Group’s liquidity.11132
Cardano founder Charles Hoskinson has repurposed the Ethereum Classic Twitter account to now benefit the Ergo Platform.10841
A bearish formation in the total market capitalization chart has been gaining strength after two failures to break its resistance level.2633
Hoskinson called the Ethereum Merge a flawed PoS implementation, claiming custodial staking would create issues for the network in the long run.6405
The Merge marks a turning point for the Ethereum network, but what are the consequences of switching to a new consensus mechanism?6617
Here’s a review of the possible new trends that will drive the crypto market in the post-Merge era.33086
Nonetheless, ETHPoW is gaining adoption among top mining pools and crypto exchanges.20208
A recent report has narrowed ETHPOW's downside target to $18 if the token ever comes to life post-Merge.17186
ETC price secures a double-digit gain as its hashrate hits a record-high and BTC.com adds a Ethereum Classic mining option to its services.9717
The Ethereum Merge may constitute a taxable event if it results in a chain-splitting hard fork, tax experts warn.13987
The ASIC prepares to put crypto and DeFi firmly in its sights, while Australia’s Northern Territory Racing Commission is preparing to adopt cryptocurrencies in gambling.1887
Several altcoins have not only outperformed Bitcoin and Ethereum in the last three months but have also posted impressive gains.14517
What are the pros and cons of the Ethereum Merge — and could Proof-of-Work hard forks challenge Proof-of-Stake? Here, we answer all your questions.13335