Ethereum Miners Made Eight Times More Fees Than Bitcoin Miners in September
Ethereum has seen immense congestion as of late due to an influx of transaction demand. The transaction demand stems from the rise of decentralized finance applications, which take up a large amount of block space. ETH miners have collected so many fees that data shows that they made eight times more than Bitcoin miners in transaction fees over September. Proponents of Ethereum say that this is a positive sign for the cryptocurrency, as it may […]
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On-chain data shows Ethereum miners saw a 39% surge in revenue as fees soared during the DeFi craze. Ether (ETH) miner revenue skyrocketed during the month of September according to data from glassnode, an onchain analytics resource. While the price of Ether did not rise significantly during this time, miners on the Ethereum network saw their revenue increase due to high fees. Miners took home 450,089 ETH in fees ($168.7 million) and this represents a 39% increase over last month in which miners made roughly $113 million in fees. During the same period, Bitcoin miner revenue from fees not....
Ethereum Miners Continue To Surpass Bitcoin Miners In Revenue Ethereum miners continue to outpace bitcoin miners in terms of revenue. The second-largest cryptocurrency by market cap has now proven that it is a better bet when it comes to crypto mining, making it a more profitable venture for miners. At various times in the past, […]
The upcoming Ethereum merge will switch the network consensus system into “proof of stake.” Here’s why miners are worried about it. Ethereum Miners Made $18 Billion In 2021, More Than Bitcoin Miners As per the latest weekly report from Arcane Research, ETH mining revenues totaled $18 billion in 2021, slightly more than Bitcoin miners’ $17 […]
A recent Princeton University study finds that a cap on max block size is necessary in a situation where mining rewards are entirely made of transaction fees. Miles Carlsten with Arvind Narayanan acting as advisor have assumed that ‘miners have the capability of claiming all possible transactions available in their next block.’ Based on the game theory analysis and simulations the study concludes that orphaned blocks would increase substantially as miners aggressively fork each other. Miner strategies. Describing a ‘petty compliant miner strategy,’ the simulation suggests that if a miner....
Ethereum’s recent upgrade has pushed miners out of its network. Now Ethereum 2.0 support validators who staked 32ETH and above in the network. The community expected the merge to push the price of ETH and other cryptos up. But the reverse became the case afterward. Related Reading: Ethereum: Can The Top Altcoin End Bitcoin’s Dominance Post Merge? A few minutes after the event on September 15, Bitcoin lost $1K. Ethereum also lost more than $200, plummeting from $1,635 to $1471 same merge day. The next few days, on September 18, ETH price shaded off more and landed on $1335.33.....