Home Altcoins News Many Call Ethereum Classic (ETC) As a Dead Coin Miners Reviving

Many Call Ethereum Classic (ETC) As a Dead Coin Miners Reviving

Ethereum Classic Miner

ETC Cooperative expressed, currently, miners are collecting around ~$1.5USD in daily mining revenue on Ethereum Classic —an amazing ~1200% increase YTD. Number go up -> higher hashrate -> network more secure.

There is a list of mining resources developed for Ethereum Classic. Those who have questions, there is an active Mining channel in the Ethereum Classic Discord. Also, there are plentiful Video BIOS Collection by TechPowerUp.

The Proof-of-Work mining algorithm for the Ethereum Classic network is Etchash since 28th of November 2020.

Stevan Lohja, Developer Relations at Mantis IO thread on: Why I support an Ethereum Classic Treasury?

Provides the funding for novel and new features (Sha3?); prevents the monopolization or franchise by a single entity (yall know what I mean); and funding to close the colossal tooling-infra gaps.

Also, Ethereum Classic PoW change to Sha3 will make ETC PoW more efficient than both Bitcoin and Ethereum Why? – Sha3 is smaller, faster, more efficient. – Sha3 hw is cheaper and documented – 1 Sha3 ASIC is more efficient than 200 gaming computers. – Sha3 wins security & environment.

ETC can be compatible with ETH while decoupling in key areas. Ethereum is a concept reaching it’s terminal velocity and being deprecated for ETH2.  Coupling ETC to ETH is like intending to inherent a used car reaching it’s end of life.

For clarity, Stev is an ETC OG, having been part of ETCDEV, ETC Labs, ETC Coop and now IOHK! He recently joined He will be joining IOHK’s Mantis IO team in a Developer Relations role.

Why Mantis? A fully-featured client created by IOHK and variety to the ETH Classic client range and includes optimizations and upgrades to improve network security, sustainability, and performance.

In the past Stev expressed, if Musk cancels Bitcoin then he must cancel Ethereum. Unlike BTC, ETH PoW was intentionally designed inefficiently to pressure the network to PoS. Years of inefficient use of commodity hardware and that’s why Ethereum Classic will switch to the more efficent Sha-3 PoW.

ETH centric media failing to inform you about ETC and go onto saying ETC’s rise is because of ETH. Total nonsense! ETH-centric actors have attacked ETC on multiple occasions wishing ETC’s death.

ETC Community Musings:

Users are left wondering:  But will the introduction of the treasure cause a chain-split? Where can I read more on the Treasury? [Meeting] ETC Call 16 – Preliminary proto-treasury meeting #426.

Many call ETC as a dead coin.  Forth coming months should prove if they are alive.

Read more about:
Share on

Maheen Hernandez

A finance graduate, Maheen Hernandez has been drawn to cryptocurrencies ever since Bitcoin first emerged in 2009. Nearly a decade later, Maheen is actively working to spread awareness about cryptocurrencies as well as their impact on the traditional currencies. Appreciate the work? Send a tip to: 0x75395Ea9a42d2742E8d0C798068DeF3590C5Faa5

Crypto newsletter

Get the latest Crypto & Blockchain News in your inbox.

By clicking Subscribe, you agree to our Privacy Policy.

Get the latest updates from our Telegram channel.

Telegram Icon Join Now ×