ETC new Network Security Plan involved possibly adopting 0xBitcoin inspired proof of work algorithm

The main motivation for changing the algorithm is to step out of the shade of the Ethereum network which is powered by the Dagger Hashimoto proof-of-work, also known as Ethash. This could be implemented within 6 months, depending upon the results of testing. As a minority chain with regards to the total hash rate using the same mining algorithm as the Ethereum network, Ethereum Classic is not only vulnerable to 51% attacks, but these attacks are possible to execute due to the available hash rate that can be rented on various platforms.

Switching to a unique mining algorithm could position Ethereum Classic as a leader in its own class of proof-of-work.

The Ethereum Classic community has discussed several algorithms thus far, two of which are promising:

• SHA3, or specifically Ethereum’s Keccak256 (ECIP-1049)
• RandomX, a proof-of-work for general-purpose CPUs (ECIP-1093)

ECIP-1049 is based on the EIP918 standard first developed for 0xBitcoin (0xBTC).With the direction that Ethereum Classic is taking: a focus on Layer-2 solutions and cross-chain compatibility; being able to evaluate proof of work on chain, will be tremendously valuable to developers of both smart-contracts and node software writers.

This could greatly simplify interoperability. this could be implemented on ETC through a hard fork with public community calls scheduled for August 20 and August 28, 2020!

Source:

• ETC Network Security Plan
• ECIP 1049: Change the ETC Proof of Work Algorithm to Keccak256