Bitcoin

Ethereum transaction costs, for the first time since march, higher than that of bitcoin

For two days in a row, the Ethereum network and higher transaction costs than bitcoin’s network. It’s unique, typically the gezamenelijke transaction cost of a bitcoin is higher than that of ethereum. Research Glassnode had a shout for a comparison.

On Saturday, the 6th of June, and the transaction costs of ethereum, for the first time since march and was higher than that of bitcoin. Ethereum was on the 6th and 7th of June respectively 502.000 dollar 546.000-dollar transfer fee. Bitcoin was the day to do with only 310.000 dollar, and 252.000 dollars.

Computer news website Bitcoinist will give different reasons as to why the transaction costs are also increased. By the way, the price will be a lot of ether to the trade fairs will be sent. Secondly, there is also a stablecoins, which will be issued by the Ethereum network, like a Tether (USDT). If the number of transactions in these stablecoins to rise, this will have consequences for the transaction on the Ethereum network.

What they don’t mention is that, in the Final sector, which is the flower of. Earlier on we informed you that there’s more to that, Decentralized Finance of more than $ 1 billion in value. More than one-half of the value comes from the MakerDAO, but also in Aave, and a Set Protocal contribute significantly to the value. All of these financial products are built for the Ethereum network.

Good for the price

According to analysts, the growth in the use of the Ethereum network is found to be positive for the prize of the ETH zurich. The founder of the company We, Capital, Ryan, Sean and Adam, I noticed, just recently in his newsletter that the ETH is closely related to the transaction costs incurred by the users of the Ethereum for the past four years.

If this correlation continues, the market price of ethereum will soon greatly increase.

Ethereum 2.0 will have it

There’s something to be positive about it. Soon to be rolling ethereum is a new version of the network, the ETH 2.0. With Ethereum 2.0 will be to say goodbye to Proof-of-Work as a method of transaction by any other means.

Instead, Ethereum is about to Proof-of-Stake. In the Proof-of-Stake investors can use coins to hold for transactions to be approved. In return, investors receive a reward in the form of the transaction. You must be at least 32 and ethers have in order to participate to do so.

Previously, it was expected that the Ethereum 2.0, in July, launched it ought to be. However, according to Vitalik Buterin, founder of Ethereum, that’s a bit ambitious. Buterin calls is out of date, but in the third quarter of this year, this would be a realistic target might be. We will keep track of the developments, of course, before you get to the top!

About the author

Jeremiah Faber

Jeremiah Faber

Jeremiah is an explorer by heart – both in the physical and the digital realm. A traveler, Jeremiah continues to visit new places throughout the year in the physical world, while in the digital realm has been instrumental in a number of Kickstarter projects. Technology attracts Jeremiah and through his business acumen has gained financial profits as well as fame in his business niche.

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