Ethereum Mining Firm Introduces ETC Mining Software!
Recently a tweet was made by Collin Wu, who stated that Innosilicon (an Ethereum Mining Machine Manufacturer) had released a new mining software, ETC firmware, for a few of the models A10pro 720M and A10pro 500M. This software is currently under development for new versions of machines like A11.
Since the Ethereum consensus algorithm will change from Proof of Work to Proof of stake, many customers have requested to build software based on the new consensus algorithm. With Proof of stake, there is no requirement for the specific equipment and firmware for mining.
Ethereum Mining Firm Introduces ETC Mining Software
However, the Ethereum Classic (Ethereum’s fork) would require such software and devices to mint ETC (Ethereum classic).
At the time of writing this article, Ethereum Classic was trading at USD 39.85, which is lower than 24 hours and 54 percent more than the weekly price. When compared with the top 10 cryptocurrencies, the price chart looks quite bullish for ETC. Soon after the Ethereum Merge, it is expected that the miners would shift to ETC.
Ethereum Classic Price Surges by 54 Percent
Despite the bearish trend, the ETC has gained a lot of attention. One famous mining company, Antpool, had invested USD 10 Million to promote the ETC Ecosystem. This was also to develop a decentralized application (Dapps) on Ethereum classic Mainnet and explore different opportunities. Another Mining Pool, Bitmain, had disclosed that they would take ETC for all the Antminer Machines.
Ethereum Classic Price Trend 2022
In the bearish market, ETC has made it all its way in 2022 with a price of around 33.92 USD. In Q1 2022, it took the biggest fall to 21.77 USD. However, there is a bullish trend seen on the ETC chart.
ETC Price Prediction Q3
If the protocol sees more applications, adoptions, and volumes, it might rise by more than 35 USD. Meanwhile, the bear trend could drop the price to 20 USD. Considering both Bullish and Bearish trends, the regular price could be around 25 USD.
ETC price Prediction Q4
There is quite an optimistic view for the Q4 for 222. Since it would approach the new year and holiday season, there might be some boost for the social sentiments among traders and investors. This can pull the price to a new high of USD 40.30 by the end of the year. In contrast, if bears continue to dominate the market, a flip could happen, and the price might fall back to 28-30 USD.
Ethereum classic is the Ethereum token, launched in 2015. It was specifically designed for the developers to help them to build high-security applications. The Ethereum Classic aims to conserve Ethereum Blockchain’s principles since it was split in 2016 during the DAO attack. One of the advantageous features of the Ethereum Classic is security and openness to all for global development. It uses the Proof of work consensus algorithm for mining and block validation. Anyone can become a miner by buying a mining rig on ETC.