Thanos hard fork to support Ethereum Classic hashrate is approaching
The Ethereum Classic network will host Thanos hard fork, aimed at preserving the possibility of mining cryptocurrency using video cards with a memory capacity of 4 GB.
The update is scheduled for block 11.7 million, which will be roughly mined on November 28-29. It will allow you to roll back the epoch parameters of the Ethash mining algorithm used in Ethereum Classic. The algorithm requires the use of a precomputed data set (DAG) that grows by an average of 1 GB every 18 months. Currently, the value is approaching 4 GB. Without intervention, a number of devices used to mine cryptocurrency will lose the ability to participate in the mining process.
DAG allows cryptocurrencies based on the Ethash algorithm to resist the dominance of ASIC miners, as it eventually leads to their loss of relevance and, therefore, encourages avoiding large investments in such equipment. Thanos will halve the DAG size, allowing video cards with 4GB of memory to mine cryptocurrency for another three years. The developers hope that thanks to this they will be able to attract additional hashrate from the Ethereum network, where, as expected, such video cards will be phased out by the end of the year..
Hash rate preservation is an important issue for Ethereum Classic, whose network was hit by 51% attacks several times at the end of the summer. The developers are also considering the possibility of a complete change of the mining algorithm, but there is still no consensus on this issue..
According to Hive OS, currently about 24% of miners on its platform use 4GB video cards and only 2% of all devices are involved in Ethereum Classic mining. At the same time, the Ethereum Classic hash rate is slightly more than 1% of the Ethereum indicator, so even a relatively small influx of miners can affect the security of the cryptocurrency..