What is Ethereum Classic?
In July 2016, the Ethereum network hard forked into two blockchains: Ethereum and Ethereum Classic. Ethereum Classic is now a completely separate cryptocurrency with different technological and philosophical goals. You can read more here about Ethereum Classic and cryptocurrency forks.
What caused Ethereum to fork?
The Ethereum network forked after an incident in July 2016. At that time, attackers exploited flaws in the smart contract code of a prominent application running on Ethereum called The DAO. In response to community concerns, the Ethereum Foundation implemented a hard fork to roll back all DAO-related transactions and allow the DAO’s original contributors to reclaim their funds. While many in the community supported the Ethereum hard fork, some chose to continue running the original Ethereum blockchain. That blockchain eventually became known as Ethereum Classic.
Does Ethereum Classic follow all the same changes that Ethereum makes to its software?
No. After the hard fork, Ethereum Classic has not received any updates directly from the Ethereum chain. Ethereum Classic and Ethereum are maintained as separate projects with different development teams contributing to each one.
Why did CoinZoom decide to add ETC? Why didn’t you add X asset? When will you add other assets?
We’re always evaluating what assets might be a good fit for CoinZoom. To read more about our policies for adding new assets and how we make that decision, please see here. Stay tuned for more assets in the future!I had ETH stored on CoinZoom Pro during the hard fork that created Ethereum Classic. Will CoinZoom credit me the ETC I would have received?
Yes. CoinZoom originally allowed withdrawals of ETC up until December 2016. If you had any leftover ETC which was stored in CoinZoom after that date, it was credited to your CoinZoom Pro or Prime ETC balance in August 2018.What happens if I send my Ethereum Classic to an Ethereum address?
While both cryptocurrencies share the same address format, Ethereum Classic and Ethereum are their own distinct blockchains. Funds from one chain cannot truly be sent to the other. However, it is possible to confuse which addresses are registered to your CoinZoom account for each asset, and accidentally send ETC or ETH to the other’s address.CoinZoom does not support cross-chain address transactions, and does not guarantee that funds will be properly credited when one asset (ETC) is sent to the address of a different asset (ETH), or vice versa. Please make sure that you only receive funds using the specific deposit address displayed in your CoinZoom account for the asset you are sending.
You can view your addresses on CoinZoom’s address page. Please exercise caution when sending or receiving Ethereum Classic (ETC) and Ethereum (ETH).