Ethereum Classic is a blockchain-based platform on which programming code can be run and computed. It is the result of what is called a “hard fork” with Ethereum. In essence, Ethereum Classic is running an older version of Ethereum and is not receiving the newer updates that Ethereum is receiving. Ethereum Classic stands on blockchain immutability and the motto, “Code is Law”, meaning that all completed transactions should not be reversed. It supports smart contracts, which are scripts that are stored on the Ethereum Classic blockchain whose primary function is to exchange any unit of value between users. Classic ether is the token which compensates nodes for computational work done.
Ethereum Classic is a decentralized platform that runs smart contracts: applications that run exactly as programmed without any possibility of downtime, censorship, fraud or third party interference. It is a continuation of the original Ethereum blockchain - the classic 'unforked' version; free from external interference and subjective tampering of transactions.