Mining ETC: The Resilience of Proof-of-Work in Ethereum Classic! ⛏️💻
While Ethereum (ETH) has transitioned to Proof-of-Stake (PoS) with The Merge, Ethereum Classic (ETC) remains committed to the Proof-of-Work (PoW) consensus mechanism. This makes it attractive to miners and those who believe in the decentralized security of PoW.
How it works: ETC miners use computational power (GPU or ASIC) to solve complex cryptographic puzzles. The first one to find a solution adds a new block of transactions to the blockchain and receives a reward in ETC.
Advantages of PoW for ETC: Proponents of PoW appreciate its proven security, decentralization, and lack of staking requirements, making it more accessible for participation.
The role of miners: ETC miners not only secure the network but are also active community participants, contributing to the maintenance of the "Code is Law" philosophy.
Preserving PoW is one of the fundamental distinctions of ETC, highlighting its commitment to the principles on which the original Ethereum was built.