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ETH Merge is unstable, ETC mining is profitable

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ETH Merge is unstable, ETC mining is profitable

June 02
18:38 2022

On May 27, the global cryptocurrency market plunged 5.89% in the past 24 hours, with a trading volume of $1.19 trillion. Among them, Ethereum (ETH) fell sharply after some hiccups in the PoS program sparked fears of a merger.

Currently, ETH is down nearly 9% to $1,785, its lowest level since March 2021. Why is it going down? Because in the past 24 hours, the Ethereum Beacon Chain, which was supposed to add PoS to the blockchain, suffered a 7-block deep reorganization.

Reorganizations occur when there is a misalignment in the block sequence, usually caused by malicious behavior or flaws, also suggesting that ETH’s planned move to PoS may not be as stable as founder Vitalik Buterin predicted.

Gnosis founder Martin Koppelmann believes that Buterin was overly optimistic when he suggested that switching to PoS would increase organizational stability. Koppelmann claims that until today, we have never seen a 7-block reorg on the Ethereum mainnet.

It can be seen that if Ethereum wants to upgrade to 2.0 and switch to PoS, there is a lot of risk. ETH has become farther and farther away from the stable blockchain that used PoW in the past. Since the birth of the crypto world, blockchain networks using the PoW consensus mechanism have always been much more stable than other mechanisms, such as Ethereum Classic, which has deep roots in Ethereum.

ETC is an open source and mineable cryptocurrency that utilizes a monetary policy similar to Bitcoin. What is certain is that Ethereum Classic is now booming. If you want to invest in Ethereum Classic, mining ETC is the best way and method.

To be a miner in a PoW network requires purchasing mining hardware, having access to cheap and reliable energy, and having a fair level of technical skills to run and maintain a “mine”. If the author is looking for one of the few mainstream ASIC miners on the global market that supports the ETCHASH algorithm, the JASMINER X4 High-throughput 1U server may be the best choice. Learned that it has a market-leading hash rate of up to 520MH/S±10%, and power consumption is only 240W±10%. According to the feedback from some famous YouTube cryptocurrency bloggers and some well-known tech media, JASMINER X4 High-throughput 1U server has excellent performance in terms of high throughput hash rate and power consumption in mining ETC-specific scenarios, and its most powerful feature is that it can help miners save a lot of power expenses, allowing miners to achieve low-power mining.

Ethereum is no longer a project with a stable mechanism like PoW used to be, even less than the original Ethereum Classic. The Ethereum Classic blockchain marks a substantial difference from other cryptocurrencies by allowing blockchain developers to maintain smart contracts and launch open-source applications. The rising market in recent years has also made many cryptocurrency investors more and more favoring ETC. It is certain that Ethereum Classic will have a bright future.

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