as reported by Colin WuInnosilicon, an Ethereum miner manufacturer, has released ETC firmware for the A10pro 500M and A10pro 720M servers, which can be used for ETC mining. ETC firmware for A11 is currently under development.
Ethereum miner maker InnoSilicon said that it has released ETC firmware for the A10pro 500M and A10pro 720M, which can be used for ETC mining. ETC firmware for A11 is currently under development. https://t.co/jcR3RjGbMv
— Wu Blockchain (@WuBlockchain) 30 July 2022
The translation of the official announcement reads: “Future POW to POS Status Based on Ethereum Consensus Mechanism (Algorithm), At the request of our customers, we have developed ETC firmware for A10pro 500M and A10pro 720M servers, which have passed the test and are publicly issued here for the convenience of the customer.”
Ethereum will continue to use the classic Proof-of-Work (PoW) consensus, while the Ethereum network is in the works to switch to the Proof-of-Stake (PoS) protocol. With PoS, Ethereum will fundamentally change its block verification and creation of new Ethereum (ETH). This would make the need for specialized mining equipment and firmware unnecessary.
However, Ethereum Classic will continue to use rigs and firmware to mine its native cryptocurrency, ETC.
Ethereum Classic price climbs 54% weekly
At the time of publication, Ethereum Classic was changing hands at $39.85, up 4.84% over the past 24 hours and 54% from the previous week. The weekly gains relative to the rest of the top 20 were partly driven by speculation that ETH miners may switch to ETC in the event of a “merge”.
Thank You @AntPoolofficial for your support #ethereumclassic, It is greatly appreciated.
I had the privilege of spending the day with @leonlv2028Today, Lucien, Rory and Lily are talking though ways to put the pledged funds to good use. stay tuned! I#WDMS2022 pic.twitter.com/czeMrMFMbU
— Bob Summerwill (@BobSummerwill) 27 July 2022
In light of all the recent attention ETC is receiving, Antpool, the mining pool associated with the mining rig Bitmain, revealed it has made an initial $10 million investment to boost the Ethereum Classic ecosystem. It claims that this was done to further enhance network performance as well as explore and develop apps for the Ethereum Classic mainnet. Bitmain also recently revealed that it will start taking ETC for all of its Antminer models.