From Ethereum to Ethereum Classic: The Shift of Ethereum Miners

Half-Dane

How to transfer Ethereum from Ethereum to Ethereum Classic (including mining)?

2023-06-04 04:59

Elbert

Ethereum Classic is a blockchain network that is an offshoot of the Ethereum blockchain network. Ethereum Classic emerged after a contentious hard fork in the Ethereum network in 2016, which resulted in two different blockchain networks with different features and histories. Ethereum Classic is the original chain, which remained unchanged and did not adopt the changes made in the hard fork. As such, Ethereum Classic is maintained by a different set of developers and miners who support the original decentralized ethos of the Ethereum network. In contrast, miners who support Ethereum are incentivized to mine on the newer chain as it offers more utility and potential for growth. Some Ethereum miners may choose to mine on Ethereum Classic due to ideological reasons or as a hedge against possible changes in the Ethereum network in the future.

Release time 2023 06 04

Irving

Release time 2023 06 04

Mirabelle

Ethereum Classic (ETC) is a blockchain-based decentralized platform that operates on the same principles as Ethereum (ETH), but is maintained by a separate community of developers and users. ETC is the original Ethereum blockchain that did not undergo a hard fork in 2016, unlike ETH which did. This means that ETC still operates on the original chain and has a different set of rules and features compared to ETH.

Ethereum miners have the ability to switch between mining either Ethereum or Ethereum Classic. This means that a miner who is currently mining Ethereum can choose to switch to Ethereum Classic and vice versa. However, since the two blockchains operate differently, miners would have to adjust their mining software and settings accordingly.

Overall, Ethereum Classic represents an alternative version of Ethereum that appeals to those who believe in the original decentralized ethos of the platform and prefer to avoid any changes or modifications made to the original blockchain.

Release time 2023 06 04

Lester

Release time 2023 06 04