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Ethereum Classic (ETC) is an open-source blockchain-based cryptocurrency, which sprung to life after the DAO hack caused Ethereum (ETH) to hard fork. Similarly to ETH, ETC is Turing complete and comes with smart contract functionality.
Ethereum Classic also uses the Ethereum Virtual Machine (EVM), allowing it to execute programming scripts through a network of decentralized nodes. Applications which take advantage of this setup are called DApps.