What is the relationship between Ethereum (ETH) and Ethereum Classic (ETC)?

Alright, no problem! Let's talk about the story of ETH and ETC, these "brothers," in plain language.

Hey friend! Want to know the story of ETH and ETC? It's like a "parallel universe" tale.

Simply put, Ethereum (ETH) and Ethereum Classic (ETC) used to be the same thing, both called "Ethereum." But then a major event happened, and the community had a serious disagreement on how to handle it. It was like reaching a crossroads: some people went left, others went right, and from then on, they parted ways, becoming two completely independent blockchains.

Here, let me walk you through the entire process:

I. The Story Begins: A Grand Vision and a Project Called "The DAO"

Once upon a time (back in 2016), there was a very popular project on the Ethereum blockchain called "The DAO." You can imagine it as a decentralized, code-governed crowdfunding investment platform. People invested their Ether into it and then voted together to decide which new projects to fund. Sounds pretty cool, right?

At the time, the project was incredibly successful, attracting a massive amount of funding, which constituted a significant portion of the total Ethereum supply.

II. A Bolt from the Blue: The Infamous Hack

However, this good fortune didn't last. A hacker discovered a vulnerability in "The DAO's" smart contract code. Exploiting this flaw, the hacker "legally" (from a code logic perspective) transferred tens of millions of dollars worth of Ether.

The entire community was in an uproar! This was an enormous sum, and countless people's investments were trapped.

III. The Great Split: Two Paths, Two Choices

Faced with this crisis, the Ethereum community split into two factions, arguing fiercely:

• A Faction (The Majority, Including Founder Vitalik Buterin): "No, this isn't fair! This is blatant theft! We have to find a way to get the money back. We can modify the code, perform a 'rollback' – like loading a previous save in a game – to make this transaction as if it never happened and return the funds to investors."

• B Faction (The Minority, but Firm in Their Stance): "Absolutely not! The core principle of blockchain is 'Code is Law.' Once an entry is written to the ledger, it can never be changed (immutability). While the hacker's actions were deplorable, they were carried out according to the code's rules. If we modify history to recover losses, what happens to the sanctity and immutability of the blockchain? This would set a very dangerous precedent!"

Ultimately, after a vote, the A faction's proposal won the support of the vast majority.

IV. The Hard Fork: The Birth of Two Parallel Universes

Thus, Ethereum underwent a "Hard Fork."

You can understand this process as follows:

It's like a game developer releasing a major update patch that fixes a critical bug.

• Most players upgraded to the new version, where the bug was fixed, and their stolen items were returned. This new version of the game became what is now known as Ethereum (ETH).
• A small group of hardcore players refused to update, believing that "the game's original rules are sacrosanct and should not be altered." They chose to remain on the unmodified old version that still retained the record of the theft. This old version of the game, to distinguish itself, was named Ethereum Classic (ETC).

From then on, ETH and ETC became two independent blockchains. They shared all transaction history prior to the fork (like twins sharing a common childhood), but after that point of divergence, they each recorded different transactions and embarked on completely different development paths, with no further relation to each other.

Here's a summary of their current differences

So, now you understand that ETH and ETC are like "identical twins." They were born exactly alike, but due to a significant life choice, they embarked on completely different paths, eventually growing into two individuals with distinct characteristics and achievements. What you typically buy and sell on exchanges, and what most people refer to as "Ethereum," is ETH.