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Ethereum Classic is a blockchain-based distributed computing platform that offers smart contract (scripting) functionality. [1] It is open source and supports a modified version of Nakamoto consensus via transaction-based state transitions executed on a public Ethereum Virtual Machine (EVM).
When mining happens the miner simply "looks" through the pre-stored answers and submits the best one found to the network, with minimal energy used to read the hard drives. Due to the low hardware specification requirements of the PoC mining process, this type of mining can be conducted on a regular PC still being used for other day-to-day tasks.
Transactions are validated through a miner network running RandomX, a proof-of-work algorithm. The algorithm issues new coins to miners and was designed to be resistant against application-specific integrated circuit (ASIC) mining.
Notable blockchain-based projects such as ZCash, BitcoinZ, Horizen, Aion, Hush, and Pirate Chain have integrated Equihash for reasons such as security, privacy, and ASIC miner resistance. [citation needed] The manufacturer Bitmain has succeeded in optimizing the processing of Zcash's Equihash-200,9 with an ASIC. [2]
Ethereum: ETH, Ξ Vitalik Buterin [50] Ethash [51] C++, Go [52] PoW, PoS: Supports Turing-complete smart contracts. 2015 Ethereum Classic: ETC EtcHash/Thanos [53] PoW: An alternative version of Ethereum [54] whose blockchain does not include the DAO hard fork. [55] Supports Turing-complete smart contracts. 2015 Nano: XNO, ΣΎ Colin LeMahieu ...
Here are some of the best Ethereum ETFs, including their performance and annual fees. Top Ethereum ETFs. Fund (ticker) YTD performance. Expense ratio. iShares Ethereum Trust (ETHA)-32.3%.
In this case, the fork resulted in a split creating Ethereum and Ethereum Classic chains. In 2014 the Nxt community was asked to consider a hard fork that would have led to a rollback of the blockchain records to mitigate the effects of a theft of 50 million NXT from a major cryptocurrency exchange .
On 15 September 2022, the world's second largest cryptocurrency at that time, Ethereum, transitioned its consensus mechanism from proof-of-work (PoW) to proof-of-stake (PoS) in an upgrade process known as "the Merge". According to the Ethereum Founder, the upgrade would cut both Ethereum's energy use and carbon-dioxide emissions by 99.9%. [28]