Ethereum Classic developers are now working on a way to increase security of the Ethereum Classic network, preventing 51% attacks and creating new ways to interact with the blockchain.
The proposal includes a change to the Keccak algorithm as it is being felt that the current algorithm, Ethash, is no longer suitable for the Ethereum Classic. The change to Keccak would lead to an increase in ETC’s hash rate and the inclusion of hardware dedicated exclusively to the ETC mining.
A change to SHA-3 software is also expected to attract the interest of new miners and stimulate the growth of ETC’s hash rate. With over $70 million of mining rewards, ETC would represent the largest network that is profitable to mine with FPGA devices.
Currently, 6 million GPUs are mining Ethereum. In comparison, only 800,000 GPUs are mining the Ethereum Classic.
The ETC community though has expressed concerns about the time it may take to develop these SHA-3 ASICs.
Meanwhile, ETC has recorded a 535% increase in its number of active addresses, according to data from Coin Metrics, to reach 100,862 active addresses.