Cryptocurrency

Rewards historical for mining Ethereum

According to a study of the signature Glassnode, the rewards earned by the mining of Ethereum have reached a ceiling. The study also shows that the network Blockchain of this criptomoneda possesses greater stability than in 2018, being the year that he reached his best time.

In this way, the miners of the second criptomoneda in importance are getting great results with the rates. On the other hand, the hash rate of the network has decreased, which leads to less time for searching of blocks valid.

It should be noted that, according to data from the network Blockchain, the growth of this criptoactivo could continue to increase. The limit of the profit has gone up, and this could lead to a significant increase in the hash rate in the next few weeks.

What means the increase of the rewards from the mining of Ethereum?

An important point that cannot be overlooked is that, the recent rise of Bitcoin is dragging the other cryptocurrencies behind him. However, the ability of Ethereum is not limited to make shadow to the digital currency pioneer.

The data also show that the growth and maturity of the network Blockchain of Ethereum are better than those of 2018, when it recorded maximum at $1,400. Taking into account these two aspects, it would not be surprising if the current growth points to there.

Another important fact is that, although the rates of network are high, the difficulty has been greatly reduced due to the decline in the rate of hash. The decrease in hash rate sits at 25% in comparison with the summer of 2018.

It can also be concluded that, the lower is the rate of the hash, the greater the amount of Gas rewards that you receive the miners. The negative side of this is that a hash rate under could bring with it certain levels of insecurity in the network.

Increased use of Gas could be related to the historical peak reached by the rewards for mining Ethereum. Source: Glassnode

Advantages with respect to 2018

During the year 2018, when this crypto reached its best moment, the rewards for mining Ethereum not passed 15%. Now, the same ranging between 16% and 19%, which leaves open the expectations for a rally of enormous proportions.

In terms of the limit of Gas used, has seen an increase to the double compared to the year 2018. This increase of Gas could have its origin in the speculation of the decentralized applications. The DeFi loan gains and move like never before. This could impact directly the price and further increase the rewards for mining of Ethereum.

Everything will change, but when?

All of this logic in the performance of Ethereum, is part of the protocol Proof-of-Work (PoW), which would be replaced with the update ETH 2.0. However, this hoped-for renewal, has been delayed multiple times.

The update ETH 2.0, will aim to replace the PoW for the Proof-of-Stake (PoS), bringing an evolution unprecedented for a criptomoneda of this magnitude and changing from the root of the process of mining of Ethereum.

Despite the fact that the same was proposed to be introduced at the end of this year 2020, its developers reported that a series of failures forced them to postpone it again. Now, the tentative date for the release is early next year to 2021.

In this way, the mining of Ethereum, would undergo a radical change. Instead of many devices competing for validating blocks, now would be selected randomly by the network.

Impact on the rate of hash

The rumors about the release of the update ETH 2.0 by the end of 2020 impacted on the mining Ethereum. A large part of those engaged in infrastructure, mining, hastened to change the crypto.

This despite the fact that the developers of the network gave assurance that the PoW does not eliminate of a blow, but both modes would remain together for an undetermined period of time before the PoS will be lost completely.

Data to be taken into consideration

In a 180% is the rise of Ethereum from the month of march, when there was the official announcement of the WHO on the pandemic Covid-19.Hash rate of the network Blockchain of Ethereum has fallen by 25% since the summer of 2018.Limit of Gas reached twice that experienced in 2018, when the network had its best time.Update Ethereum 2.0, after a new postponement, is expected to be launched definitively at the beginning of next year to 2021.Ethereum is serving 5 years of existence since the 30 of July 2015 minara your block genesis.

Reliable sources

The information of this content has been taken from reliable sources which are detailed below:

1 – professional Management of content by the authors of CriptoTendencia.
2 – external Sources: Glassnode.com and Decrypt.com.

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About the author

Belinda Carey

Belinda Carey

A finance girl by education, Belinda has been drawn to cryptocurrencies ever since Bitcoin first emerged in the 2009. Nearly a decade later, Belinda is actively working to spread awareness about cryptocurrencies as well as their impact on the traditional currencies.

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