Ethereum Classic was created in July 2016, when the Ethereum network split following a disagreement regarding how to respond to The DAO Hack. Approximately 5% of the total supply of Ethereum tokens was stolen during the hack and the Ethereum Foundation acted quickly to engineer a fork to reverse the theft. The resulting fork is now called Ethereum, and the original chain is known as Ethereum Classic. The Ethereum Foundation’s decision to fork the protocol was rejected by part of the community who believed that no single event, or even a hack, could justify compromising chain immutability. This small constituency of users continued to use the original blockchain and rejected the bailout. No large-scale projects have been built using Ethereum Classic and it has been predominantly used for peer-to-peer transactions rather than sophisticated smart contracts.