Cryptocurrency

Ethereum Classic lose half of your hash rate after bifurcation Atlantis | Breaking News

Key facts:

The hash rate of Ethereum Classic went to mark 11,56 TH/s to close in 6,22 TH/s in just a day.Atlantis allow you to alter the formula of adjustment of mined, avoiding the creation of ETC artificial.Ethereum Classic has lost half its hashrate in less than a day, then carry out your fork Atlantis. We could be witnessing the second sinking of the legendary continent, in view of the blockchain has grown from register 11,56 Th/s of hash rate in the morning 6.22 TH/s at the time of this note.According to information from the network, Ethereum Classic reached the day of today, September 12, the block 8772000, the height in which it was scheduled for the fork. Atlantis is updated without major setbacks, but with the passing of the hours began to decline and accelerated its rate of hash.The website Coinwarz shows that the rate of hash or hash rate—value that represents the computing capacity of the active miners in the network— has decreased in the last few hours, coming to register a hash rate 6.22 TH/s. that Is to say, after the fork there seems to be a lesser amount of miners confirming transactions in the blockchain. The hash rate of the network decreased from 11,56 TH/s to 6,38 TH/s in a short time. The decline will increase from the bifurcation Atlantis and continues at the time of writing this note, until it falls 6.22 TH/s. Source: Coinwarz.The increasing difficulty of mining and the decline in profitability are the most common factors that motivate the mining equipment to be turned off. However, Ethereum Classic does not seem to be in a similar situation. The difficulty of mining of the network is in its lower values, according to data from Coinwarz. Also, your price per unit has not been affected. Because of this, it seems that the bifurcation Atlantis would have something to do with this significant drop in the hash rate.

What could be happening?

It is strange the loss of hash rate in the blockchain, in view of the assertions made by Steven Lohja, coordinator of technology of Ethereum Classic, done two days ago. The representative pointed out that 75% of the miners in the network have confirmed their support of Atlantis, highlighting among them pools as Ethermine, 2miners, Nanopool and F2pool.In this sense, it would confirm that a 25% of the active miners in Ethereum Classic could have decided to refrain from confirming transactions or have migrated to other platforms. However, this percentage still does not explain a decline in the hash rate of 50% in just a few hours, as Lohja also confirmed that the majority of the nodes of the network were updated before the fork, and that the pools more large supported the initiative.The pronounced fall in the rate of the hash could also be related to the fact that the client Mantis will not provide support to Atlantis. In any case, the bifurcation affects the clients of the nodes, for which those users (miners) that are not updated, the nodes could have stayed outside of the blockchain main.The page Atlantis.soc1 recommended to the users: “make Sure to update your node before branching Atlantis”, a recommendation that suggests that, without the modification of software teams might be affected and that could explain the decline of mining activity in the network.

The new Atlantis

Beyond the inconveniences, the long-awaited bifurcation Atlantis is active in Ethereum Classic. After a wait of more than five months and an extension in July, the community will be able to test the performance of the new branch. Atlantis plans to “increase the stability and security of the network,” said the developers. To do this, the team introduced a total of 10 changes to the blockchain.Among the updates most outstanding highlights that Atlantis allows you to modify the adjustment formula of mined, avoiding the network to be manipulated to produce SO artificial. Also added new funcionabilidades to the virtual machine of the blockchain, an update based on the hardfork Byzantium of Ethereum. One of the goals of this update is to increase compatibility of Ethereum with Ethereum Classic, thus allowing the migration of decentralized applications (Dapps).