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Ethereum Classic (ETC<\/a>) fell by 13.33% since Sept. 6 after Cardano<\/a>\u2018s (ADA<\/a>) founder Charles Hoskinson<\/a> suggested Ethereum miners shift to Ergo<\/a> while Ethereum\u2019s founder Vitalik Buterin<\/a> said that ETC\u2019s welcoming community made it a good coin to mine.<\/p>\n ETC had been trading as high as $41.52, but it fell by 19.73% within half a day to reach as low as $33.31 on Sept. 6. In the following hours, it quickly picked up by 8%. It is being traded for $36 at the time of writing.<\/p>\n As the crypto community moves closer to The Merge<\/a>, eyes have turned to all alts of Ethereum<\/a>, including ETC. Both Hoskinson and Buterin have been sharing their opinions on where Ethereum miners should turn after the Merge is complete.<\/p>\n Hoskinson Tweeted to invite Ethereum miners to mine Ergo over ETC on Sept. 6.<\/p>\n If you’re into proof of work, I’d recommend checking out @ErgoFoundation<\/a>. Ergo is one of the few coins in the PoW space still innovating and has a great community.<\/p>\n \u2014 Charles Hoskinson (@IOHK_Charles) September 5, 2022<\/a><\/p>\n<\/blockquote>\n A few hours earlier, he shared<\/a> his opinions on ETC and said that it was a \u201cdead project with no purpose or real compelling argument to exist.\u201d<\/p>\n Hoskinson had previously suggested implementing a decentralized treasury and setting up a development fund for the ETC. His proposal altered the ETC block rewards allocation to transfer a portion of it to the treasury.<\/p>\n The ETC community rejected this proposal because they didn\u2019t want to be cut from their rewards, which was expressed by Twitter user Maximalist.etc,<\/em> as a \u201c20% miner tax.\u201d<\/p>\n Hoskinson\u2019s said:<\/p>\n \u201cETC still gives me sadness for what could have been.\u201d<\/p>\n<\/blockquote>\n Soon after The Merge calendar was published, ETC increased by over 150% throughout July.<\/p>\n On Aug. 23, a Twitter poll<\/a> was hosted by node operator\u00a0@cryptovium<\/a>, who asked which PoW coin Ethereum miners will turn to after the merge is complete and wanted participants to choose between ETC, Ergo<\/a>, Ravencoin<\/a>, and FLUX<\/a>.<\/p>\n Ergo became the clear winner of the poll, taking 45.5% of all votes. FLUX and Ravencoin followed as second and third with 27.6% and 19% of votes, respectively. ETC came last, with just 8% of votes.<\/p>\n However, Ethereum\u2019s founder Vitalik Buterin<\/a> replied to the poll results and spoke fondly of ETC. He said:<\/p>\n \u201cIt\u2019s a very welcoming community and I think they\u2019ll definitely welcome Proof of Work fans\u2026If you like Proof of Work, you should go use Ethereum Classic. It\u2019s a totally fine chain.\u201d\u00a0<\/strong><\/p>\n<\/blockquote>\n The last time ETC made the news with an upgrade was in September 2020, when the ETC labs partnered<\/a> with a security firm to prevent 51%\u00a0 attacks. This decision came only one month after Coinbase<\/a>\u2018s decision<\/a> to delay ETC transactions following the 51% attack on ETC.<\/p>\n Become a member of CryptoSlate Edge and access our exclusive Discord community, more exclusive content and analysis.<\/p>\n On-chain analysis<\/strong><\/p>\n Price snapshots<\/strong><\/p>\n More context<\/strong><\/p>\n<\/div>\n Join now for $19\/month<\/a> Explore all benefits<\/a><\/div>\n<\/div>\nHoskinson and Ergo<\/h2>\n
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Buterin and ETC<\/h2>\n
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