Will Ethereum Classic Prove to be Next Best Shelter for Ethereum Miners?
With the Ethereum Merge approaching the final Bellatrix upgrade was pushed, earlier this week. Miners have started looking for alternatives since the highly-anticipated upgrade will vanish the ETH mining community. Ethereum Classic [ETC] which follows a Proof-of-Work consensus mechanism has experienced a sudden rise in its total hashrate. In just a month, the hashrate of ETC increased by over 50%. It indicates new miners are entering the ecosystem as the Merge approaches. There are two kinds of miners: one who wants a hard fork that will result in Ethereums PoW alternative. The other sect is happy with the existing alt. The Increasing popularity of ETC…. The popularity of ETC is continuously growing among the mining community as is evident from the hashrate chart. Currently, in terms of market cap, ETC is in the fourth position in the list of top PoW tokens in the world. While ETC grabs the third position considering the trading volume. The Merge could probably bring change in these figures when more miners enter the ETC community. With the increase in the total hashrate, the price of ETC rose too and it surpassed various crypto assets last month. The price of ETC started booming in mid-July from $14.17 and reached $44.67