The Merge - As it pertains to Ethereum Classic
ETH is moving to PoS, but what does that mean for ETC?
Ethereum (ETH) mainnet will undergo integration into the Beacon Chain proof-of-stake system. This event is known as, The Merge. The Merge will abandon the proof-of-work system leaving a massive amount of Ethereum miners that will need to find another proof-of-work coin to mine. Ethereum Classic (ETC) is the canonical proof-of-work Ethereum blockchain that will continue to be proof-of-work for the foreseeable future. So, ETC seems a natural choice for Ethereum miners to move to and we’ve been watching more hashrate coming into the network, especially as ETH’s DAG size has recently reached 5 GB.
As a miner or pool, what do I need to do?
If you’re a miner or pool, then familiarize yourself with compatible hardware, software, and pools.
As an exchange or user, what do I need to do?
Of course, swashing hashrate from another network is not without its risks, but we hope ETC becomes an easy choice and dominant in its respective proof-of-work family. An ideal scenario would be a successful Merge and honest miners supporting the ETC network. At this time, all we can do is monitor the network carefully and welcome miners to secure the ETC network.
Risk Evaluation of 51-Percent Attacks on Ethereum Classic
DISCLAIMER This is an emergent and evolving highly technical space. If you choose to implement the recommendations in this post and continue to participate, you should make sure you understand how it impacts you. You should understand that there are risks involved including but not limited to risks like unexpected bugs. By choosing to implement these recommendations, you alone assume the risks of the consequences. This post and recommendations are not a sale of any kind and do not create any warranties of any kind including but not limited to any relating to the Ethereum Classic network or the Ethereum Classic clients referred to herein.