AntPool Supports Ethereum Classic Ecosystem With $10M Investment

AntPool’s CEO Lv Lei announced at Bitmain’s World Digital Mining Summit on Tuesday that AntPool, the mining pool associated with mining rig behemoth Bitmain, has contributed $10 million to assist the Ethereum Classic (ETC) ecosystem and intends to continue doing so. Ethereum Classic will continue to use the Proof-of-Work (PoW) methodology while the Ethereum network works to switch to a Proof-of-Stake (PoS) model. With PoS, Ethereum will fundamentally alter how it verifies blocks, adds them to the blockchain, and creates new ether (ETH). By doing this, the demand for specialist mining rigs like those produced by Bitmain will disappear. These rigs will continue to mine Ethereum Classic’s native currency, ETC. To improve the network’s overall performance, the initial $10 million investment was used to create and test applications for the Ethereum Classic mainnet. Let’s support the ETC ecosystem and incubate high-quality PoW projects together！ https://t.co/AHft6WfGES — ANTPOOL (@AntPoolofficial) July 27, 2022 Bitmain Selling New Ethereum Mining Rig Early in July, Bitmain began selling the Antminer E9, its most recent Ethereum mining device. The second-largest cryptocurrency network is moving away from Proof-of-Work (PoW) technology. Still, Bitmain, the world’s top maker of bitcoin (BTC) miners, will begin selling a new Ethereum rig model on its website. Additionally, the manufacturer of the mining rigs declared that it will now ta...