After the announced and upcoming major upgrade of the Ethereum network, crypto miners are looking for new sources of income as one of the largest blockchain networks will no longer be available for mining as it will switch to a quota mechanism instead.

So it is possible that Ethereum Classic is one of the options available.

In his recent speech, Ethereum founder Vitalik Buterin stated that those users who “love the POW mining mechanism” should consider migrating to Ethereum Classic because it is a great network.

Ethereum Classic is a hardfork of Ethereum, launched in July 2016.

It mostly mimics the main functions of Ethereum and acts as a smart contract network that supports decentralized applications and solutions with the ETC digital currency.

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Since the launch date, ETC has positioned itself as a separate version of Ethereum and distanced itself from its predecessor after each update.

The network has set a goal of preserving the integrity of the pre-existing Ethereum blockchain before the notorious theft of 3.6 million Ethereum.

The Ethereum Classic network grew as one of the largest networks on the market was no longer available for mining, so Ethereum Classic became the obvious alternative to Ethereum miners who sought new ways to work in the cryptocurrency industry.

With more hashrate entering ETC, investors began looking for more exposure to ETC, causing a short-lived rally that drove the cryptocurrency’s price up by 105%.

Unfortunately, the speculative nature of the rally caused a quick 12% reversal.

But despite the calm, investors still believe that Ethereum Classic will gain more value after the launch of the upcoming Ethereum merger, The Merge.

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