Xmei Lin, Head of Marketing at BITMAIN, the world's leading manufacturer of cryptocurrency mining hardware, and Bob Summerwill, Executive Director at the ETC Cooperative gave speeches about Ethereum Classic at the World Digital Mining Summit (WDMS) Global 2022 which happened this week.
The WDMS is a leading conference of the cryptocurrency mining industry where the focus is on mining sector impetus, exploration of new trends in industry development, and the growth and evolution proof of work blockchains.
BITMAIN's subsidiary, AntPool, which is a world leading mining pool company, has invested $10 million to support the Ethereum Classic ecosystem, now the largest proof of work blockchain in the ETHHash segment.
The speech by Xmei Lin was titled "POW Now To The Future" and the topics she focused on where:
- The history and benefits of proof of work (PoW)
- Her disagreement with PoW mining energy consumption worries
- BITMAIN's products and features
- That PoW is more secure than Proof of stake (PoS)
- AntPool's donation to ETC of $10 million, which are allocated 50% in $ETC and 50% in $USDT
- In the future, grants from the donation will go to ETC developers, infrastructure, and main net
- Also, ETC hackathons, events, and summits
- Statement: "We want to build ETC into a top level smart contracts blockchain on the PoW consensus with high security, decentralization, and censorship resistance."
- Surprise promotion: Buy ANTMINER miners now at the Bitmain website paying with $ETC and get a 5% discount!
- Closing statement: "We will build ETC into an earth computer web 3 industry."
You may watch Xmei Lin's speech starting on minute 33:29 here:
The topics of Bob Summerwill's ETC overview were:
- ETC is the top smart contract blockchain in the world
- How the ethereum merge to proof of stake (PoS) made ETC the leading programmable blockchain
- How ETC's hashrate increased 10x after the merge and now stabilized at 7x from 25 TH/s to 142 TH/s
- A comparison of proof of work blockchains by market cap and daily rewards which puts ETC as the 4th largest proof of work blockchain in the world
- That ETC is Bitcoin philosophy with Ethereum technology
- The values of true decentralization, immutability, and unstoppability in ETC
- How Ethereum is now 72% censored by the United States Department of the Treasury through its Office of Foreign Assets Control due to the Tornado Cash mixing app debacle
- Announcement of the launch of the ETC Safe Multisignature Wallet (post here)
- The AntPool and ETC Cooperative collaboration in the new ETC grants program they are supporting with a $10 million donation
You may watch Bob Summerwill's speech starting on minute 44:56 here:
With their investment in ETC, Antpool has decided to allocate 50% of the $10 million in the $ETC cryptocurrency which has been deposited in an ETC Safe multisignature wallet that may be seen here. The other $5 million remain allocated in $USDT.
AntPool and the ETC Cooperative are working on a grants programme on the ETC network that will start gradually distributing these funds in the near future.
Thank you for reading this post.
To learn more about ETC please visit: ethereumclassic.org
To learn more about the ETC Cooperative please visit: etccooperative.org
