Is it possible to mine etc. with asic?

ASIC miners and older mining software will not be able to mine ETC. Both currently use the same mining algorithm. If you want a lot of hashing power easily, then buying an ASIC is perhaps a good option. If you are simply looking for a quick profit, the ASIC may not be the best option.

I'm just curious what will happen to all the Ethereum ASIC miners after it moves to POS. You can mine any coin that uses the ethash algorithm. Ethereum Classic is a proof-of-work coin, whose hashing algorithm relies on miners to secure the network. Initially, the cryptocurrency used the Ethash mining algorithm, which over time had seen the development of ASIC miners.

As such, it was easy to rent NiceHash's hashing power and use it to mine ETC, which was exploited by some bad actors to execute double-spending attacks. Ethereum Classic can be mined with GPUs and some ASICs just like Ethereum, but with one key difference. ETC is not going to switch to proof-of-stake. You will be able to mine old-school proof-of-work on Ethereum Classic forever.

David Gerula
David Gerula

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