As the Ethereum network transitions from proof-of-work (PoW) to proof-of-stake (PoS) during the Merge, blockchain explorer and mining pool BTC.com has added support for Ethereum Classic (ETC).
The mining pool, BTC.com ETC Pool, has launched with “zero-fee” mining for three months.
Before the Merge, BTC.com Debuts ETC Mining Pool
According to the Ethereum The Merge Countdown on BTC.com, the Merge will occur at a TTD of 58,750,000,000,000,000,000,000 on September 15 at 04:44:47.
An average of 891.96 TH/s is being hashed across the network. However, the projected Merge date is September 14 at 22:49:47 UTC, as stated by the Ethereum Foundation’s tracker.
BTC.com has voiced its approval of Ethereum Classic (ETC) mining in light of the impending obsolescence of Ethereum miners following the Merge.
To encourage miners to make the transition to Ethereum Classic following the Merge, the mining pool BTC.com ETC Pool was created. BTC.com has also launched a three-month “zero fee” ETC mining promotion to encourage mining and use.
Until December 1st, users can take advantage of free mining by connecting their ETC hashrate directly to the BTC.com ETC Pool.
As an added bonus, the mining pool has also made available an ETC mining setting instruction.
Mining pools with a strong reputation, such as Ethermine and Antpool, have publicly stated their preference for ETC mining over Ethereum PoW.
Even more impressive is the $10 million in funding that Antpool has pledged to Ethereum Classic. It also stated that it would maintain its investment strategy and back ETC benefits.
Ethereum Classic (ETC) Price Shows Strength
Despite widespread selling across the market, the price of Ethereum Classic is holding its own.
The price of ETC has increased by about 1% in 24 hours and by 4% in the past week, and is currently trading at $32.08.
The hashrate has also increased as it appears that several miners have shifted their focus from Ethereum to Ethereum Classic.
Many prominent Ethereum figures, including Vitalik Buterin, the ETC Cooperative, and Barry Silbert, CEO of Digital Currency Group, have advocated for miners to make the transition to Ethereum Classic.
Moreover, they have been critical of EthereumPoW’s proposed hard fork.
Due to the anticipated reduction in ETH issuance following the Merge, prices have become unstable.
