Halving on the Ethereum Classic network occurs every two years. The reward is reduced by 20% with the goal of achieving an issue of 210.7 million ETC.
The value of the asset reacted slightly to the event, and over the past 24 hours the rate fell by about 1%. Over the week, the coin has lost more than 6% and is trading on exchanges near the $30 mark, which is 81% below the high of spring 2021.
The network hashrate is approximately 180 TH/s, according to the 2Miners platform. Let us recall that the indicator reached its maximum value at 234.35 TH/s in the fall of 2022.
The increase in computing power in Ethereum Classic turned out to be short-lived, although it has shown progressive growth over the past few days.
Earlier, the founder of Cardano, Charles Hoskinson, discussing with subscribers on the social network X, criticized Ethereum Classic, calling it “a useless blockchain that does not realize its full potential.”
Source: Bits
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