Ethereum Classic rises on 79% weekly rally


Ethereum Classic (ETC) is leading the crypto market’s weekly rally by getting 79.2% over the previous 7 days, an amount of time in which all however 5 non-stable tokens in the leading 100 by market cap landed in the green.

See associated short article: How Ethereum Classic’s 51% attacks expose threats to Bitcoin and Ethereum

Fast realities

  • Industry observers anticipate Ethereum’s relocate to proof-of-stake to drive miners towards ETC.
  • The ETC hash rate has actually increased to 22.32 TH/s, somewhat above the network’s efficiency in mid-February
  • ETC’s cost is rising right before its 3rd “fifthening,” an upgrade that decreases block benefits by 20% every 5 million blocks.
  • Ethereum was hacked in 2016, leading to a difficult fork to the existing Ethereum blockchain that returned the funds to owners while the hacked chain rebranded to Ethereum Classic.

See associated short article: Rented hash power for 51% attacks is a ‘huge vulnerability’ for proof-of-work blockchains, states ETC Labs CEO



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