As Ethereum will adopt Proof of Stake that will not require mining power of hardware, the miners are bothered with the updates on the network. Even though mining Ethereum was quite profitable for some time, the miners have to find another Proof of Work crypto to mine if they want to keep mining.
At that point, Ethereum Classic (ETC) is attracting some attention once again. ETC was the main Ethereum Chain before the hardfork of Ethereum. Nowadays ETC is not popular because of common 51% Attacks that the chain gets. This time, it is for mining operations!
ETC Enjoys the Attention
Let's be honest. Most of us do not track ETC in our watchlist or portfolio. Yet, there had been some exciting updates on ETC price.
Recently, the coin gained more than 80% value thanks to the possibility of mining ETC when ETH uses PoS. At first, it was welcomed as a "kind" transition to the old rival of Ethereum.
Mining Firms Support ETC
As expected, mining firms are looking for ways to sustain their operations and make gains from them. Thus, ETC hype may help them achieve their aim if the miners support their goal.
According to 2miners:
AntPool Supports
The second factor that boosted ETC’s popularity is a $10 million investment in the project ecosystem development made by AntPool this week.
Innosilicon Supports
Innosilicon announced the release of mining firmware for Innosilicon A10 and A10 Pro to mine ETC.
The support of AntPool and Innosilicon is quite positive for Ethereum Classic. At that point, the mining firms are doing their best to make mining operations available/profitable on ETC for them.
How do miners react to it?
Actually, some of them welcome the updates while the others are against all these things.
ETC vs ETH Drama
There are some speculations on CryptoTwitter over a threat to Ethereum Network's transition process. Miners are said to have the potential to make a hostile move against Ethereum Network.
The merge will be a turning point in the history of crypto ecosystem. We can clearly see its importance from the discussions and occasions even today. Though miners threaten Ethereum with the possibility of such "surprising" events, it is pretty unlikely IMHO.
Trying to give harm Ethereum Mainnet will end up in a lose-lose situation for the whole crypto ecosystem. Thus, these speculations are in vain. I do not expect a "real" threat to Ethereum.
ETC Keeps Climbing and the mining firms are coming up with solutions. Maybe it is a good chance for ETC to come back to top levels once again. Yet, it is better for ETC to focus on its own road map rather than trying to be the main "Ethereum Killer".