Ethereum Classic’s block height reached 15,776,674 on August 20, 2022. It tapped 38.37 Terahash per Second (TH/s) and hit an all-time record. Since Wednesday, August 17, the crypto asset’s hashrate has risen by 39.22% from 27.56 THB/s to its all-time high (ATH).
Ethereum Classic’s Hashpower Jumps to 38.37 Terahash
Six years later ethereum classical (ETC), miners carved the first block at block block height 1,920,000.
ETC’s hashrate reached an ATH on August 20, 2022. ETC had a hashrate of 38.37 T/s at block elevation 15,776,674.
As Ethereum ( ETH), approaches , the hashrate was added to the chain. The Merge upgrade will take place on or around September 15, 20,22. On August 17, ETC hadhrate was 27.56 THB/s. It has risen 39.22% since then.
ETC is the largest mining pool, with 8.05 TH/s. Poolin is next at 8.02 TH/s. Poolin and Ethermine have combined hashrates of 16 TH/s, which is more than 40% ETC global hashrate.
ETC was created after the DAO hack of 2016 and the first block mined on July 20, 2016. ETC supporters believe that it is the original Ethereum blockchain unchanged since the DAO hardfork removed the event.
Ethereum Classic developers removed the ETC difficulty bomb in a pledge to adhere to proof-of work. ETC had their difficulty bomb removed at block height 5,900,000. Although Ethereum Classic ( ETC has experienced a significant increase in hashrate, other Ethash-based token network like Ravencoin, Ergo(ERGO), and Beam [BEAM] have not seen any significant increases in hashpower.
The all-time high Ethereum Classic hashrate follows many predictions that ETH’s havehrate would migrate towards ETC. JPMorgan market strategists forecast last week that ETC would be one of the main beneficiaries from The Merge.
ETC has experienced a significant hashrate rise, with 1,000 Terahash (TH/s). is still dedicated the Ethereum(ETH) Blockchain.