 So in this video, I'm going to be talking about Ethereum and Ethereum Classic. What is the difference? Because let's face it, a lot of people are complicated. It's complicated enough within the cryptocurrency space. Might as well, new people coming in, understanding Bitcoin, viewing Bitcoin, then all of a sudden, understanding Ethereum, then realizing, oh, there's something called Ethereum Classic. And there is, I would say, confusion among the general populace about this. So hopefully, right now I'm going to explain to you in a very high-level, simplistic way why there are two Ethereum's and what is the difference between the two. So let's rewind back, say, a year and a half ago, where this whole thing started. Okay, so before there was two Ethereum's, there was obviously regular Ethereum. And basically what happened was this, about a year or a year and a half ago, something was created called DAO, Decentralized Autonomous Organization. Think of it as like a crypto hedge fund or a crypto venture capitalist fund online. It raised about $150 million at a speak worth of American value. I don't know how many Ethereum tokens I was back in a day. However, there's a huge problem because the code itself wasn't that well built. Let me put it that way, okay? So now they raise $150 million of US currency in Ethereum, that is, and it had this virtual crypto fund. And along came an individual, individuals, we don't know who this person or person's was, and they took about $50 million. But people call it a hack, more or less it wasn't a hack per se. I always say, imagine if you have a key to your house and you leave the key outside in the sidewalk. Is the person hacking your house? No, you gave them the key, they opened up your door, they got in. That was kind of what happened with the DAO. A person saw a faulty door or saw an entranceway that wasn't programmed quite well. And let's call them day for the sake of this video because we don't know that person. They went in and it took $50 million. Now the community went crazy, absolutely crazy. Think about it, you just invested this thing, $50 million gone. And at that time, the DAO had a huge percentage of the total supply of Ethereum. So I forget the percentage number, but a massive amount of all circulating Ethereum was in this DAO. And that's like the lifeblood of the protocol or the Ethereum protocol. So they had to come up with a proposition. What do we do with the $50 million that was stolen? How do we get our money back? So all these people are trying to think of different ideas, et cetera, et cetera. They came to the conclusion finally that they need to create a fork. They need to stop the blockchain that they have right now currently and create something fresh from scratch. Now a lot of people were up in arms about this and a lot of people didn't like this approach. But they had a consensus. People were voting on this and the majority voted, let's fork Ethereum. Now let's kind of pause for a second and talk about a fork because I was confused at the beginning. And let me summarize what a fork is. For example, in the blockchain and we know that the blockchain responsible for authority, that's what's really good at. That's why it eliminates middlemen. We want a third party that's unbiased, that's not connected to anything that's not centralized, which is a blockchain that determines value and that determines authenticity. So if we're looking at any blockchain, whether that is Ethereum blockchain, so for example, that's the blockchain. When a fork happens, meaning they actually stop supporting the longest chain. Miners, users, the protocol will dump that chain and go to a new chain. That's why it's called a fork. So what happened with the Ethereum fork was the longest chain through consensus, through the miners voting, through the users voting, through everybody coming together, they said to get our $50 million back from the DAO and to save all the Ethereum tokens, we have to stop supporting this long chain. So they forked it. However, a small subset of people, they didn't want a fork. And so they created their own. They stayed on the Ethereum classic. That's why you have two different names. You have the Ethereum classic, which is like, I say 10% or something like that, was the people who said, I don't want a fork. I want to continue with the longest chain. So if we're looking at this, so I made this quick drive for you. So the blockchain, the longest chain is always the one with the highest authority, the one that's validating everything, the one that people look for trust. So if we're looking the longest chain, that was a theorem before the DAO. So the DAO, you had $150 million raised, then you had $50 million that was hacked. And so for them to get the money back, they got through the consensus. They're like, all right, we've got to stop this chain and start a new chain. So this started a new chain and got the money back. However, a small subset of people, they said, screw that, I'm going to start my own. So they started their own chain, which was the original Ethereum chain called Ethereum classic. Now, some people say this is bad. I don't think so. This is bad. I think this is a good thing because the whole beautiful thing about blockchain is through consensus. So if a group of people want to come together and they want to commit to a blockchain, and they want to add value, and if users want to add value, you can do so. It's not centralized. So I actually think Ethereum classic provides value towards Ethereum. It's just a different currency running on the same type of protocols, doing pretty much the same different things. However, there are key differences between Ethereum and Ethereum classic. A, Ethereum classic, the main leaders are kind of in the shadows. People don't talk about that. Plus, there are more or less, I guess you can call them maximalists. They want to stay pure to the immutable ledger. However, Ethereum is more or less like a software company. They want to grow. They probably might have hard forks in the future. Even with proof of stake, that may be another hard fork. Their plan is to go do global scaling. Now, why does Ethereum classic have value? Speculatory market at the moment. Like anything, if you look at stocks, majority of the stocks have value because of speculation. If you look at Silicon Valley with the VC, it's through speculation. Why are certain companies worth hundreds of billions of dollars when they don't even have revenue yet? Speculation. Ethereum classic is speculation. Ethereum, though, on the other hand, yes. They're a speculatory market, but they actually have used case scenarios. They just announced Ethereum Alliance development. The United Nations wants to use it. Smart contracts on the rise are actually big enterprises that are physically using the technology to benefit their company. So, to summarize, Ethereum classic is just the old blockchain of the original Ethereum and has its own currency. And Ethereum, which is about the classic, just Ethereum is the new Ethereum blockchain but part of the Ethereum foundation, the Ethereum protocol. And it has most of the hashing power and has majority of the miners on that. So, there you have it. That's Ethereum versus Ethereum classic. If you guys have any questions, leave a comment below. And like always, if you're new to the space, I'm giving you a Bitcoin and Ethereum. I have a link to a Coinbase account below if you need access to get a wallet or even buy some Bitcoin or Ethereum. And leave me your Bitcoin and Ethereum address below with the stipulation. Like always, what's the next video you want me to make? And also, yeah, that's it. Peace.