Ethereum ClassicUnforked version EthereumEnjoying a large rally early Wednesday morning.
Following the infamous 2016 DAO hackEthereum has been split into two blockchains: Ethereum and Ethereum Classic, the second largest cryptocurrencies by market capitalization. The newly created chain is the Ethereum network currently in use, and the hacked chain will continue to function as Ethereum Classic.
The important thing is the latter Will not be merge To Proof of stake (PoS) September consensus mechanism.
And since the move to PoS effectively obsolete the Ethereum Miner, all eyes are looking at the Ethereum Classic (which continues to work using more traditional mining mechanisms).
For example, Antpool recently announced a $ 10 million investment to support high-quality projects built on Ethereum Classic (ETC).Backed by mining hardware maker Bitmain, Antpool is the third largest Bitcoin According to data from the mining pool and the 14th largest Ethereum mining pool btc.com..
and Bitmain World Digital Mining Summit Yesterday, Antpool CEO Leon Lv announced support for ETC as it continues to function as a Proof of Work (PoW) network.
“Support the ETC ecosystem and incubate high quality PoW projects together!” Tweet Antpool early Wednesday morning.
Ethereum Classic Satellite
Since its announcement, ETC has completed about 14% of the rally in the last 24 hours and changed hands for about $ 27 per token.
Despite today’s tremendous rise, ETC is down 84.62% from the record high of $ 176.16 in May 2021. CoinMarketCap..
Bitmain isn’t the only one behind the smaller of the two Ethereum projects.
On July 21, Ethereum co-founder Vitalik Buterin also expanded his support for the project, calling it the “perfectly fine chain” and the “original Ethereum.”
he Added “If you like Proof of Work, you should use Ethereum Classic.”
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