Demand for change to stake proof algorithm
The recent fears, uncertainty, and skepticism about bitcoin mining using the PoW algorithm have also played a role in other blockchain networks that want to switch to PoS. The ECC cited this as one of the reasons, saying that of course they do not believe in the common notion, but they do believe that PoS offers much better security and performance at a lower cost.
The ECC claims that extraction using the PoS algorithm allows miners to do more on the network than PoW. With PoS, miners do not have to sell because they can stake up and become a long-term investor.