Ethereum Classic Market Analysis: ETC/USD goes up as Ethereum Classic miners gain permission to mine Zilliqa as well
- Ethereum Classic (ETC) miners can now configure their rigs to mine Zilliqa (ZIL) too.
- Ezil.me is providing a detailed mining instructions page for dual mining.
- ETC/USD has gone up, even though the rest of the coins in the market faced bearish correction.
Ethereum Classic (ETC) miners can now configure their rigs to mine Zilliqa (ZIL) as well. This new feature was launched recently after a period of Beta testing where miners gave their feedback and improvement proposals to the team at Ezil.me.
Ezil.me team has asked anyone interested in carrying out dual mining to visit their mining instructions page for information on how to set up their ETC rigs to connect to their mining pool. The mining of ETC and Zilliqa will be automatically switched between the two blockchains using a set time period.
Once you connect to our pool we will redirect you to the one of the biggest an allegedly most profitable pools, https://etc.ethermine.org/, before the start of ZIL round (every 1,5 hours) will automatically switch your rig to ZIL mining, and once ZIL round is over you will be seamlessly switched back to mining ETC. No action required from you, the process runs just like your regular ETC mining.
A few days back, Ethereum Classic highlighted the possibility of miner migration from Ethereum to ETC once Proof-of-Stake is activated with ETH 2.0. This is because miners’ equipment is becoming unusable in the mining of the old Proof-of-Work algorithm of Ethereum. The ETC blockchain is similar to the Ethereum blockchain and miners can easily switch to Ethereum Classic. Now they have the added incentive to migrate because of the ability to dual mine ETC and Zilliqa (ZIL).
ETC/USD went up from $6.25 to $6.38 over the course of this Friday. During the process, it managed to jump above the downward trending line. The SMA 200 has crossed above SMA 50 to form the highly bearish death cross pattern. The Elliott Oscillator has had a green session, following two consecutive red sessions.
On the upside, the bulls face stiff resistance at 6.457, SMA 50, SMA 200 and $6.70. On the downside, healthy support levels lie at $6.357 and $6.275.
Key levels
Author
Rajarshi Mitra
Independent Analyst
Rajarshi entered the blockchain space in 2016. He is a blockchain researcher who has worked for Blockgeeks and has done research work for several ICOs. He gets regularly invited to give talks on the blockchain technology and cryptocurrencies.
