Ethereum Classic ETC
Relation to Ethereum
Ethereum Classic is a decentralized platform built for running smart contracts and Dapps. It appeared after a disagreement that was caused by the split of the initial Ethereum platform into Ethereum ETH (new hard fork) and Ethereum Classic (ETC) – the continuation of the original platform. The new coin is called Ether Classic, and all users who had Ethers before the aforementioned hard fork own the equal amount of ETC as those who decided to go along with the new ETH.
Explaining Ethereum Classic Gas
Ethereum Classic uses the internal mechanism called Gas to determine the price of the transaction. It is used to prevent Spam by calculating the cost for every operation and making Spam activity on the network too expensive.
New Monetary Policy from ETC
In 2017 ETC produced a new monetary policy by which effectively putting a maximum supply cap on the Classic Ether. It will be achieved by reducing 20% of reward for a new block that is going to occur every five million blocks. The estimated total supply is going to be approximately 230 billion coins.