[Golden Finance News] On May 31, 2024, the blockchain network Ethereum Classic (ETC) successfully implemented the "Fifthening" production reduction, and the block reward was reduced from 2.56ETC to 2.048ETC. The production reduction occurred at the block height of 20000001, which was packaged by K1Pool. The last block before the halving was packaged by F2Pool. At present, the computing power of the ETC network is about 180T. In the past year, the computing power of the ETC network has continued to rise steadily, with an increase of about 50%. This production reduction may further stabilize the ETC network and lay the foundation for future development.