Ethereum Classic Coinbase

We have written less than a week ago about a 51%+ hashing power that 2miners have over Callisto. Today we are writing another article about a 51% but this time about Ethereum Classic. I am personally a huge supporter of Ethereum Classic and to this date still have my rig mining Ethereum Classic.

At the moment when you look at one particular pool Ethermine it has over 51% of hashing power going to that pool, which means that the Ethermine pool has the majority control over the Ethereum Classic hash-rate.

Ethereum Classic mining distribution hashrate

With this sort of hashing power the Ethermine pool would be able to launch a 51% attack on the Ethereum Classic blockchain. I doubt they would ever will but they certainly have more then 51% share of the hash-rate. Now we as a community have a lot of options when it comes to mining pools and there are even mining pools that offer 0% fees, compared to Ethermine that charges 1%, as a community we should not be allowing this to happen, we should be mining at different pools and spread out the hashing power, so that no one has control over the Ethereum Classic blockchain.

Once Ethereum moves onto proof of stake at some point, there will be a lot of hashing power coming across different Blockchains and I think majority of those miners that move from Ethereum will move to Ethereum Classic.

At the end of the day its up to the Ethereum Classic community to do its due diligence and find a pool that best suits their needs, but also a pool that gives back to the Ethereum Classic community and a pool that will not control over 51% of the hashing power


Please enter your comment!
Please enter your name here