Vitalik Buterin: Ethereum Classic is a great network

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The creator of the Ethereum blockchain stated that there is nothing wrong with using the POW version of Ethereum.

Ethereum will be transitioning from the Proof-of-Work consensus algorithm to the Proof-of-Stake algorithm very soon, and cryptocurrency miners are looking for new sources of income, since one of the largest networks will no longer support mining.

In his last speech, the creator of the Ethereum blockchain, Vitalik Buterin, said that those users who "like POW" may consider switching to Ethereum Classic, which is an "excellent network".

The Ethereum Classic network was formed as a result of a hard fork of the Ethereum network in 2015. It has the main functions of Ethereum as a smart contract network supporting decentralized applications and solutions using the ETC token.

Since its launch, ETC has positioned itself as a separate version of Ethereum, which distances itself from its predecessor after each update. The network is designed to preserve the integrity of the previously existing Ethereum blockchain before the infamous hacking and theft of 3.6 million coins.

On July 27, AntPool mining pool announced that it will invest $10 million in the Ethereum Classic ecosystem.

"Let's support the ETC ecosystem and incubate high-quality PoW projects together," AntPool suggested.

Over the past day, the price of the Ethereum Classic token has increased by 15.8% to $ 27.3, according to CoinGecko.

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