Ethereum Classic hash rate rises with the spread of near-mergers and miners

Like the long-awaited Ethereum upgrade ApproachingIt looks like miners are switching their rigs to Ethereum Classic.

Ethereum Set to quit smoking Dialect On its network tonight after the merger, which network turned into Effort proof. Meanwhile, the “native” Ethereum chain — Ethereum Classic, which made a comeback in 2016 — reached a record hash rate of 65.49 Terahash per second (TH/s), to me for data.

Hash rate It refers to the computational power used to mine cryptocurrency. assets that BitcoinAnd the Ethereum ClassicAnd the Ethereum (before merging) use a Business Certificate Systems that require a lot of powerful computers – and energy – to process transactions.

But Ethereum, the second largest cryptocurrency by market cap, is today making its long-awaited transition to the proof-of-stake blockchain — replacing miners with validators, people who “share” the cryptocurrency to keep the network safe and running.

The upgrade will make the network”99% more energy efficientAccording to the Ethereum Foundation. Almost anyone can participate in staking, help secure the new network and earn ETH passively, either by accumulating 32 ETH themselves or by joining a staking pool through an exchange like Coinbase.

But the move leaves ex-Ethereum miners with it Not likely to do anythingMost likely to come Instead my Ethereum Classic and other compatible coins, like ravenquin.

Ethereum Classic is one hard fork From Ethereum: In 2016, cryptocurrency participants disagreed about where the network should go after the DAO hack, with the cryptocurrency reaching $55 million to steal Because of a vulnerability in the code.

In the end, the developers went their separate ways and two new blockchains were created – Ethereum and Ethereum Classic, which are traded as ETC.

ETC is not as popular as Ethereum, which is widely used because developers use blockchain to build applications. But miners will have to turn to Ethereum Classic or similar coins to continue using their hardware and stay profitable.

Ethereum Classic is currently the 18th largest cryptocurrency, with a market capitalization of over $5 billion.

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