Poolin now supports ETC, just click in to get more info!
The ETC price has doubled in the recent two weeks, making it a new favorite among crypto miners. The increase in ETC mining revenue has also eased miners’ anxiety about ETH’s switching to PoS.
And now, ETC has been officially supported on Poolin. Come and join the pool.
ETC mining addresses:
stratum+tcp://etc.ss.poolin.com:443
stratum+tcp://etc.ss.poolin.com:1883
stratum+tcp://etc.ss.poolin.com:700
ETC mining mode:
1) Sub-account mining: you need to register an account on poolin.com, and create a sub-account for mining.
2) Anonymous mining: you can directly use the wallet address for mining on the miner.
Please refer to the tutorial: https://help.poolin.me/hc/en-us/sections/5024507875609
For more information on ETC mining configuration and mining addresses, please join the Telegram community: https://t.me/poolincommunity
What is the origin of ETC and ETH?
In the middle of 2016, a project named “THE DAO”, which used Ethereum for crowdfunding resulted in the theft of over $60 million.
The stolen Ethereum mostly came from the Ethereum Foundation and Buterin Vitalik. To avoid the misuse of the stolen funds to disrupt the market, the Ethereum Foundation and Vitalik who participated in the project thought carefully and came up with a solution: generate a hard fork on the original chain of the Ethereum, create a new coin, and claim the new coin is the true Ethereum. Meanwhile, the old one is invalid, and miners are required to use an upgraded chain to keep mining.
For blockchains and cryptocurrencies, hard forks are not uncommon. Generally speaking, most miners will choose to switch to the new chain, and the old chain will automatically die out.
But this time the Ethereum hard fork is different. Due to the reasons and motives being questioned, there the miners have serious differences. Eventually, some miners continue to maintain the old chain (by maintaining the hashrate on the old chain), so the old chain did not disappear immediately.
For these miners, they are true believers in Ethereum. They firmly believe that no one can tamper with the code. Once the code takes effect, even the whole Ethereum Foundation does not have the right to tamper with it. These people would rather affect their earnings by keeping the old coin that was said to be worthless, rather than go against their beliefs and switch to this new coin.
Just when the old chain was gradually weakening, Poloniex, the world’s largest Ethereum trading platform at that time, took the lead in announcing support for trading the old version of Ethereum.
To distinguish it from the new version of ETH, the old coin is named ETC (which stands for Ethereum Classic).
Judging from the current information, the two have different algorithms (ETC is Etchash, while ETH is Ethash), but both can be mined using graphics cards and ASIC miners.
Now, Poolin is officially supporting the ETC, which we believe will provide a new option for miners who cannot continue to mine ETH after it changes to PoS.
Poolin
March 30, 2022.
