Ethereum Classic (ETC) is one of the most enduring—and misunderstood—blockchains in the cryptocurrency world. For Australian investors, understanding ETC’s unique story is essential as the digital asset landscape matures in 2025. In this article, we unpack what Ethereum Classic is, how it emerged from a dramatic fork in Ethereum’s history, and why it continues to capture attention despite fierce competition and regulatory changes.
What Is Ethereum Classic (ETC)?
Ethereum Classic is a decentralised, open-source blockchain that supports smart contracts and decentralised applications (dApps), much like its sibling, Ethereum (ETH). However, ETC is the original Ethereum blockchain, preserved after a contentious split in 2016. Its guiding philosophy is immutability—the idea that blockchain transactions should be irreversible, even in the face of hacks or controversial events.
- Symbol: ETC
- Launch year: 2015 (as Ethereum), split in 2016
- Consensus: Proof-of-Work (PoW)
- Supply cap: ~210 million ETC
In Australia, ETC is available on major crypto exchanges and remains popular among traders who value its “code is law” ethos. Unlike Ethereum (ETH), which transitioned to Proof-of-Stake in 2022, Ethereum Classic has stuck with its energy-intensive Proof-of-Work model, attracting miners displaced by Ethereum’s pivot.
The Fork Heard Around the World: Ethereum Classic’s Origin Story
To understand Ethereum Classic, you need to travel back to the infamous DAO hack in 2016. The DAO (Decentralised Autonomous Organisation) was an ambitious Ethereum-based project that raised over $150 million AUD. A vulnerability allowed a hacker to drain about a third of the DAO’s funds, sparking panic and debate in the crypto community.
The Ethereum community split into two camps:
- Pro-fork (Ethereum): Advocated for a hard fork to reverse the hack and return stolen funds.
- Anti-fork (Ethereum Classic): Believed in immutability, arguing that “the blockchain should not be altered.”
The hard fork went ahead, creating Ethereum (ETH) with the restored funds. The original chain, now called Ethereum Classic, continued on its uncompromised path, with ETC as its native token. This divide set the tone for ETC’s future: fiercely independent, sometimes controversial, and an ongoing symbol of crypto’s ideological battles.
Ethereum Classic in 2025: Where Does It Stand?
Fast forward to 2025, and Ethereum Classic remains a fixture in the top 30 global cryptocurrencies by market cap. While its adoption lags behind Ethereum, ETC has carved out a niche with several notable developments:
- Security Upgrades: After suffering repeated 51% attacks in previous years, ETC implemented the MESS (Modified Exponential Subjective Scoring) protocol and other security upgrades, boosting network confidence.
- Australian Regulation: As of 2025, the Australian government’s crypto asset licensing and custody requirements have increased transparency for ETC trading, with platforms like Independent Reserve and Swyftx offering compliant services.
- Proof-of-Work Stalwart: ETC’s commitment to Proof-of-Work has drawn miners seeking alternatives after Ethereum’s move to Proof-of-Stake. This has kept the network secure and mining rewards attractive, especially as global energy prices stabilise.
- DeFi and NFT Activity: While Ethereum dominates DeFi and NFTs, ETC is seeing modest growth in decentralised finance projects and NFT marketplaces tailored to its ecosystem.
In Australia, ETC’s price in early 2025 hovered around AUD $45, with volatility spiking during periods of network upgrades or macroeconomic shifts. The coin remains a speculative asset but is often viewed as a hedge against changes in Ethereum’s protocol or as a philosophical bet on blockchain immutability.
The Future of Ethereum Classic: Challenges and Opportunities
Looking ahead, Ethereum Classic faces a unique set of opportunities and headwinds:
- Security and Network Growth: Continued upgrades are essential to prevent further 51% attacks and attract new developers.
- Energy Debate: ETC’s Proof-of-Work model is under scrutiny amid global climate targets and Australia’s push for net zero. Miners are increasingly sourcing renewable energy to address ESG concerns.
- Regulatory Compliance: With Australia’s tightening crypto regulations in 2025, exchanges and investors are watching for how ETC and similar assets adapt to new reporting and KYC/AML standards.
- Competition: Ethereum’s scalability, robust DeFi ecosystem, and mainstream partnerships continue to overshadow ETC. However, ETC’s strong ideological stance still attracts a loyal, if smaller, user base.
For Australian investors, ETC offers an alternative narrative in the crypto story—one that prizes decentralisation and code integrity above all. It’s a high-risk, potentially high-reward asset that requires ongoing due diligence as the regulatory and technological landscape evolves.
