Ethereum hashrate exceeded 250 TH / s for the first time amid miners chasing high fees
The hashrate of the second largest cryptocurrency, Ethereum, has reached a new high today above 250 terahashes per second, according to Glassnode data. Since the beginning of the year, the growth was 80%.
“Ethereum miners pushed hashrate to new all-time high amid the hype around DeFi and rising fees,” Glassnode notes.
According to the data presented, the previous maximum in terms of computing power was recorded at around 246 TH / s on August 9, 2018. Ethereum started the current year with a hash rate of 144 TH / s. The March collapse of the market temporarily disrupted the upward trend, but the mark of 200 TH / s was taken in August, after which the growth continued. This means that the Ethereum network has never been as securely protected against 51% attacks as it is now..
“The Ethereum network is getting stronger and stronger. The recent surge in DeFi-related activity has driven network utilization to all-time highs, ”said PhutureDAO co-founder Charles Storrie..
However, the growing hashrate does nothing to solve Ethereum’s inherent scalability issues. It was they who, to a large extent, became the reason that attracted miners to the extraction of cryptocurrency. In September, Ethereum miners’ commission income exceeded block rewards for the first time. At the beginning of last month, the average transaction processing fee reached $ 15, but has since dropped to $ 2.25.
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