The Ethereum community underwent a primary improve in September 2022, shifting from a proof-of-work (PoW) to a proof-of-stake (PoS) community in an occasion known as the Merge. The new consensus mechanism is predicted to growth the safety of the community, which has visible a consistent decline in change deliver during the last six months post-Merge.
The Ethereum network noticed this as an possibility to apply this new consensus mechanism to release a brand new cryptocurrency primarily based totally on Ethereum`s technology: Ethereum Classic.
Ethereum Classic become released on September 24th, 2022 with a difficult fork of the Ethereum blockchain that created separate blockchains — one for Ethereum Classic and every other for Ethereum.