What is Classic Ethereum?

What is Classic Atrium?

Do you know what a classic Ethereum is and how it differs from an atrium? What made Ethereum Classic? In this article, we are going to examine the features and origins of this cryptocurrency. Join us for more information.

Origin of the classic Atrium

In 2016, the situation for Atrium was such that it was going through its best days. At that time, less than two years had passed since the creation of Atrium, but the price of the digital currency Ether had risen sharply. This cryptocurrency was in the second place of the market in those days. Finally, in May 2016, a new design was introduced for Atrium, which was the beginning of the concept of Atrium Classic.

DAO

DDA means decentralized self-government. In fact, DAD was a smart contract that wanted to be a great revolution on the Atrium China block. The implementation of this plan was such that people would transfer it to DAD after buying Atrium. In return for the atriums, people received tokens that gave them the right to vote. Developers sent their ideas, and among the owners of DDA, there was a voting program. If 20 percent of voters had agreed to the plan, the DAC would have provided the developer with the capital it needed. Then the program reached the implementation stage and the programmer and investor got a good profit.

DAO hacking

Everything was going well until on June 17, 2016, an unidentified hacker used a security bug in his DAD and stole $ 50 million from Atrium. This caused a sharp drop in ether in a few days. Thus, a hack that did not even occur on the Atrium network was able to damage its credibility.

looking for sulotion

The theft of this amount of atrium was a big blow for the network, which was considered almost new. So DDO members and the Atrium network came up with a solution. Then, in January 2016, they decided to implement a hard fork in the Atrium code and compensate the users by transferring the ether to a new smart contract. Hard fork in simple language means changing the rules of the Chinese block, which is not compatible with older versions. Classic Atrium was born when some members completely rejected Atrium Harfork and said it was not possible to change the Chinese block. So they decided to use the original version of Atrium.

Classic Atrium Features

Classic Atrium works just like Atrium. But their prices are very different. The programming language of smart contracts is the same in Atrium and Classic Atrium. This resemblance exists even in the time of creation, size and reward of blocks. This cryptocurrency also has a high potential for profitability for investors.

Related Post