ETC - The Best Of ETH And BTC?

By Cryptofab | Cointune | 28 Jul 2022

With the upcoming Merge, Ethereum (ETH) mining companies will lose their core business, since ETH will become a Proof-of-Stake blockchain. Some of them could try to mine Bitcoin (BTC) instead of ETH. However, the mining equipment is not the same... A bit ironically, Vitalik Buterin replied to these concerns that ETC is still there...

What is ETC?

ETC, standing for Ethereum Classic, was the first version of ETH. As an Ethereum DAO (Decentralized Autonomous Organization) was hacked in 2016 and 3.6 million ETH were stolen, Ethereum community decided to fork ETH. The new version was called ETH and the former one ETC.

What happens with ETH mining companies?

AntPool, the mining pool affiliated with mining rig giant Bitmain, has invested $10 million to support the Ethereum Classic ecosystem. Some other mining companies could follow the same path since they have some available mining rigs which will become useless for ETH mining once the Merge has occurred.

Does it mean you should invest into ETC?

If you are a short term trader, it might make sense to bet on ETC, although the price has already pumped... If you are a holder, it could be worth checking the utility of ETC. Although it is a smart contract blockchain allowing to build DeFi (Decentralized Finance) applications, its TVL (Total Value Locked) is less than USD 200k... If you absolutely want to invest into a Proof-of-Work blockchain, BTC might be a safer option...

Please find below a few links to earn a few coins...

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