AntPool Heavily Invests in ETC Classic

AntPool Heavily Invests in ETC Classic
 AntPool is using its influence to support the Ethereum-offshoot alternative, which will continue to mine using the proof-of-work protocol.The Ethereum network which was earlier at Proof-of-Work, or PoW shifted towards the PoS model or the Proof-of-Stake consensus protocol. Bitmain is selling the Ethereum mining model, the Antminer E9 from July, this year.

The Shift from PoW to PoS

The biggest mempool in the world, AntPool is using its influence to support the Ethereum-offshoot alternative, which will continue to mine using the proof-of-work protocol. In simple words, the biggest mining pool, which is joined by Bitmain, which is the mining rig, has invested in order to support the classic ecosystem of Ethereum. The invested sum is 10 million USD. Lv Lei stated this on Tuesday at Bitmain’s World Digital Mining summit. Lei is the pool’s, Chief Executive Officer.

We know that the Merge is coming sooner and sooner as the times are passing. This means that the Ethereum network which was earlier at Proof-of-Work, or PoW shifted towards the PoS model or the Proof-of-Stake consensus protocol. This refers to the fact that PoS is drastically going to affect the Ethereum validation of blocks. From adding the blocks to the blockchain to issuing new ETH, the whole process is getting updated. 

Ethereum Classic And The Rigs

By doing that, it is going to eliminate the necessity for specialized mining rigs. The rigs we are talking about are made by Bitmain. Anyways, Ethereum Classic is not going to stop mining ETC Cryptocurrency using those rigs. The 10 million USD investment that we are talking about has already been made and went to one specific area of Ethereum mainnet. This is the development and exploration of the applications. This is being done in order to promote the performance of the blockchain network.

Bitmain is selling the Ethereum mining model, the Antminer E9 from July, this year. The company also said that you can make payments to Bitmain in ETC to buy the Antminer models. The announcement was made at the world digital mining summit in Miami.

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