Roughly six years ago in July 2016, an Ethereum hard fork was used to address the infamous DAO hack. This specific fork saw the chain split into two factions, and a new crypto asset called ethereum classic was introduced to the crypto community. For years now both chains have co-existed using the same proof-of-work (PoW) consensus algorithm, and with The Merge coming up, speculators assume Ethash PoW miners will transition to ethereum classic mining. During the last two weeks, ethereum classic has climbed more than 124% against the U.S. dollar, and the network’s hashrate has spiked a great deal as well.
Ethereum Classic Catches Triple-Digit Gains During the Last Two Weeks