Ethereum Classic Difficulty Bomb
So if you guys have been in the Cryptocurrency Community for some Time then you Guys know about the Term Difficulty Bombs.
What is a Difficulty Bomb?
So simply speaking Difficulty Bomb is a Drastic Increase in the Mining Difficulty of any Cryptocurrency. In certain cases, the Difficulty in Mining can even Rise double in value. So it is kind of a Nightmare for Miners.
But today I am going to talk about the Possible Removal of the Difficulty Bomb in the Ethereum Classic Blockchain. At the current Moment, the Ethereum Mining difficulty looks a lot like this.
There has been an ECIP-1041 Proposal in which they have discussed the Removal of the Difficulty Bomb at block 5,900,000 in order to avoid a collapse of the network. Further doing so will lead Miners to Mine Ethereum Classic as it's Profitability will Increase a Lot.
If the Difficulty Bomb is Released as Planned then the Ethereum Mining Difficulty will decrease from 168.747 Trillion to as low as 105 Trillion. This would be huge for all the Miners Worldwide.
Long Story Short it looks like Ethereum Classic is trying to Poach some Miners from their Competitors.
What do you Think about this ECIP-1041?
Comment Down Below.
You got a 1.06% upvote from @postpromoter courtesy of @arunava!
Want to promote your posts too? Check out the Steem Bot Tracker website for more info. If you would like to support the development of @postpromoter and the bot tracker please vote for @yabapmatt for witness!
@arunava.. Thanks for sharing this important information.