BitRss.com latest World Crypto News

Search and discover the latest Cryptocurrency updated Stories in Categories.

24-7 World Cryptocurrency News about Blockchain, Technology and much more, only from Top Leading Sources.

Ethereum hashrate hit a new all-time high amid DeFi growth

Ethereum hashrate hit a new all-time high amid DeFi growth
Ethereum's hashrate, or the network's processing power, hit a new all-time high yesterday amid continuous growth in the decentralized finance (DeFi) space.
The hashrate increased to more than 254,000 GH/s (Giga hash per second) on October 6 as compared to the previous all-time high of 248,000 GH/s in August 2018, according to The Block Research. Meanwhile, the price of ether (ETH) hovers around $350 for about the last month.
Source: CoinMetrics, TradingView, The Block Research
The new all-time high figure of hashrate shows that more Ethereum miners are queuing up to mint ETH, which plays a central role in interacting with DeFi protocols built on Ethereum. ETH is used to pay for gas fees or transaction costs.
The high gas fees also attract more Ethereum miners to the network as it helps them make higher revenue. Last month, for the first time in Ethereum's history, Ethereum miners made more money from gas fees than from block rewards.
The higher hashrate also helps to make blockchain networks more secure as it becomes more costly to 51% attack them. © 2020 The Block Crypto, Inc. All Rights Reserved. This article is provided for informational purposes only. It is not offered or intended to be used as legal, tax, investment, financial, or other advice.

BitRss.com shares this Contents always with License.

Thank you for Share!

   
Tumblr
LinkedIn
Reddit
VK

WhatsApp
Telegram

Cool to know huh? Read the full Article

Cool huh? Please read the full Article: Ethereum hashrate hit a new all-time high amid DeFi growth


Search about Crypto News


BITRSS | CRYPTOCURRENCY WORLD NEWS

The latest Top News, only from Leading exponents of BlockChain, Bitcoin and different Accredited Crypto Currency Sources.

Since 2015, our Mission was to Share, up-to-date, those News and Information we believe to represent in an Ethical and sincere manner the current Crypto Currencies World: everything you are looking for, in one place!

We have always tried to give priority to the News; for this reason we have designed BitRss.com simple and intuitive, usable by all Devices, fast and effective.


| LEARN MORE ABOUT |

Today Most Popular News