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- ETC Price at the time of writing – $40.62
- ETC is the native token of the Ethereum Classic network
- It has a hash rate of 48.82 terra hashes per second
Ethereum Classic (ETC), a hard fork of Ethereum executed following the 2016 DAO hack, hit an unsurpassed high record hash pace of 48.82 land hashes each second (TH/s) yesterday, per information from 2miners.
And so on, the local badge of the Ethereum Classic organization, has since hopped almost 12% throughout the course of recent hours and exchanges at around $35.6, as indicated by information from CoinMarketCap.
Ethereum Classic’s hashrate has increased by 62.04%
Hashrate is the complete computational power used to mine and cycle exchanges on a blockchain network.
Over the course of the last month, Ethereum Classic’s hashrate has expanded by 62.04%, from 30.08 TH/s on August 6 to its unequaled high on Sunday.
Venturing back significantly further, and the figures are much more emotional. The hashrate development throughout recent months is an incredible 105%.
The higher the measurement, the more secure the blockchain, as high hash rates require monstrously high computational ability to think twice about network through a 51% assault.
In August 2020, for instance, Ethereum Classic experienced its third 51% assault when the complete hash rate was 2.90 TH/s. From that point forward, the hashrate has expanded by 1,606%, getting the organization like never before.
Aside from hashrate, ETC’s mining trouble arrived at a record-breaking high of 626.02T yesterday per information from 2miners.
ALSO READ: Can Bitcoin mining have a net-positive effect on energy?
Merge occasion powering Ethereum Classic
The mining trouble shows the times an excavator works out the hash to mine new coins. Expanded mining trouble is related with a developing excavator organization.
The essential explanation for the rising excavator movement of Ethereum Classic can almost certainly be credited to the impending Ethereum consolidate not long from now.
The union occasion will progress the organization from a proof-of-work (PoW) agreement to a proof-of-work (PoS) agreement to diminish its carbon impression and work on its proficiency.
Steve Anderson is an Australian crypto enthusiast. He is a specialist in management and trading for over 5 years. Steve has worked as a crypto trader, he loves learning about decentralisation, understanding the true potential of the blockchain.
