Ethereum Classic saw its hashrate balloon when Ethereum finally moved to a proof of stake mechanism. The miners who were being kicked out of the network and could no longer use their machines had switched to others such as Ethereum Classic and Ravencoin to put their very specific machines to use. At the time, ETC’s hashrate had grown more than 200%, but now the network is seeing its hashrate fall once more. Ethereum Classic Hashrate Down By Almost 50% On Sep. 16, the mining hashrate of the Ethereum Classic network reached a new all-time high of 199.4 terahashes per second (TH/s) after climbing steadily for more than a week. With this growth had come more usage on the network, triggering staggering growth in its price. Related Reading: Bitcoin Retail Investors Now Hold 17% Of Total BTC Supply, But Is It Good News? However, as the Ethereum network has settled into its proof of stake (POS) consensus mechanism, the Ethereum Classic hashrate is correcting downwards. Hashrate is now down almost 50% in the last 3 months to be sitting at 109.3 TH/s ..
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