Ethereum Classic reduction

The block reduction event happens every 5.000.000 blocks on the EthereumClassic blockchain. EthereumClassic’s initial block reward was 4 ETC. The block reward reduces by 20% roughly every 2 years. This lowers the rate at which ETC coins are generated.

The reduction is periodical and is programmed into EthereumClassic's code.

The current ETC block reward is 2.048 ETC, after the reduction, the block reward will be 1.6384 ETC.

The previous ETC reduction date was on the 1st of June 2024 and this will be Ethereum Classic's 5th reduction, also called the Fifthening.

Why was this done?

The reduction event for Ethereum Classic aims to carefully manage the supply of ETC, ensuring its sustainability and stability. By gradually decreasing rewards, ETC seeks to reduce inflationary pressure while supporting network security.

Ethereum Classic and NiceHash

NiceHash seamlessly integrates with Ethereum Classic, offering users versatile ways to engage with the crypto mining and trading ecosystem. Here's how NiceHash enhances your Ethereum Classic experience:

• Buy hashrate: Use the NiceHash marketplace to purchase mining power, making it easy to mine Ethereum Classic or your favourite cryptocurrencies without owning physical hardware. Learn how to easily buy hashrate here.
  
  
• Sell hashrate: Earn Bitcoin by selling your Ethereum Classic(ETCHash) mining power on NiceHash, simplifying how you receive your rewards. Learn more here.