Ethereum Trails Cardano, Solana In Network Speed As ETH’s Block Processing Time Sees Huge Boost

Ethereum Trails Cardano, Solana In Network Speed As ETH’s Block Processing Time Sees Huge Boost
фото показано с : zycrypto.com

2022-10-7 23:09

Ethereum Merge has brought new changes to the network, improving its block processing time. The price of ETH has tanked since the Merge and has struggled amid the broader market downturn. Almost three weeks post-merge and misconceptions persist in the cryptosphere about the effects of the transition to Proof-of-Stake (PoS). 

The much anticipated Ethereum Merge came with a ton of expectations by members of the community on changes to the ecosystem. While some of the beliefs users had were true, others were not.

The Ethereum blockchain has recorded an increase in block processing time since its Merge on Sept 15. The boost was almost instant as the number of confirmed blocks on the network increased from 6000 to approximately 7100 blocks per day. The increase was expected as the Merge was expected to make the network more efficient.

Still, on the positive, validators on the Ethereum blockchain now verify transactions faster than before, although not as fast as hoped. Validation speed on the network has increased by 13% amid rumours before the merge that the speed will go up by over 100%. As things stand, Ethereum still trails Solana, Cardano, and Avalanche in terms of speed, and users will still have to depend on rollups for faster speed.

The Merge, which transitioned the blockchain to a PoS consensus mechanism, was anticipated for years to reduce the network’s energy usage, among other benefits. While it has drastically reduced energy usage by over 98%, its high gas fees still plague the network. 

With validators replacing miners, they now have to stake 32 ETH to verify new blocks. This has also been another issue as the 32 ETH requirement is very high for validators, making exchanges dominate the staking process.

ETH performs poorly

The wait before the Merge was full of speculations about the price of ETH post-merge. While several users expected a price surge, the reverse happened as the price dropped even below the $1,500 mark. The price of ETH fell from $1,700 to $1,400 24 hours after the Merge showing early signs of what is to come.

The poor run of ETH can be linked to wider macroeconomic conditions as central banks continue to increase interest rates to tackle sky-high inflation. Adding to the network’s problem is the protest by miners boycotting the PoS network, which has seen several hard forks like EthereumPoW (ETHW) spring from the ashes in protest to the Merge.

Similar to Notcoin - TapSwap on Solana Airdrops In 2024

origin »

Blocknet (BLOCK) на Currencies.ru

$ 0.061991 (+1.38%)
Объем 24H $0
Изменеия 24h: 2.15 %, 7d: 12.58 %
Cегодня L: $0.061991 - H: $0.061991
Капитализация $0 Rank 7385
Цена в час новости $ 0.9825 (-93.69%)

block processing ethereum network time new brought

Источник: zycrypto.com

block processing → Результатов: 38


5GB Block Processor ILCOIN Criticizes Bitcoin SV’s Statement Regarding Setting New 638MB Block Size Record

The Bitcoin SV network stated in a March 16 announcement that it achieved a world record by processing a 638MB block, claiming it to be the first and largest of its kind. The developers of the Bitcoin SV network have also claimed that no other blockchain to date is capable of processing transaction blocks of […] The post 5GB Block Processor ILCOIN Criticizes Bitcoin SV’s Statement Regarding Setting New 638MB Block Size Record appeared first on NullTX.

2021-4-22 21:00


ILCOIN Dismisses Bitcoin SV’s Claim of Setting New Block Size Record

The Bitcoin SV network stated in a March 16 announcement that it achieved a world record by processing a 638MB block, claiming it to be the first and largest of its kind. The developers of the Bitcoin SV network have also claimed that no other blockchain to date is capable of processing transaction blocks of … Continued The post ILCOIN Dismisses Bitcoin SV’s Claim of Setting New Block Size Record appeared first on BeInCrypto.

2021-4-13 16:26


Биржа Bitstamp хочет привлечь Citibank и Bank of America в судебный спор с платежным оператором

Криптовалютная биржа Bitstamp просит суд в США привлечь Citibank и Bank of America в судебный процесс с платежным оператором CNG Processing, который проходит в Дании. Об этом сообщает The Block. В документе, поданном 12 ноября в суд Южного округа Нью-Йорка, утверждается, что CNG не выполнила свои обязательства в рамках соглашения с биржей. Bitstamp наняла CNG […]

2020-11-18 10:56


In-person meatspace protocol to prove unconditional possession of a private key

Recommended pre-reading: https://ethresear. ch/t/minimal-anti-collusion-infrastructure/5413 Alice slowly walks down the old, dusty stairs of the building into the basement. She thinks wistfully of the old days, when quadratic-voting in the World Collective Market was a much simpler process of linking her public key to a twitter account and opening up metamask to start firing off votes.

2019-10-2 04:03


Electricity Consumption of Bitcoin is a Non-Issue: Solar Energy is Free in Some Regions

Bitcoin and its trustless, decentralized design requires a unique process called mining that validates each transaction being added to its underlying blockchain. The process involves solving complex mathematical equations, and typically requires some serious computer processing power, and even specially-designed hardware, to validate each block.

2018-12-18 20:01


Constantinople to drop inflation and lift Ethereum (ETH) price? January can’t come sooner

Constantinople is a backwards-incompatible upgrade, which is why the Ethereum blockchain must undergo a hard fork. The upgrade will include 5 different Ethereum improvement proposals (EIPs). It has been confirmed that Constantinople will activate on the processing of block 7,080,000, which is slated to arrive around January 14th, per CoinTelegraph and statistics from Etherscan.

2018-12-9 04:26


Фото:

Federal Election Committee Asked to Consider Crypto Mining for Political Contributions

OsiaNetwork LLC has reached out to the Federal Election Committee (FEC) in the hopes that it will allow computer sharing for crypto mining for campaign donations. Osia says it would like to be the platform in which volunteers share their computer power to mine cryptocurrencies, which are then donated to political campaigns of their choice.

2018-10-5 23:57


Фото:

Barclays, Citigroup and other major banks register for a testing block

Financial News reported on July 27 that LedgerConnect, the lovechild project of foreign exchange processing giant CLS and tech mogul IBM, is in trials. Bridge Between New and Existing Technologies LedgerConnect attempts to provide a comprehensive platform in order to further incentivize banks to take advantage of blockchain projects. The project is designated to deliver easy

2018-8-1 09:07


Партнеры Currencies.ru

Реклама на Currencies.ru

Самое свежее на Currencies.ru

Solana & Other Top Coins Lose Trading Volume, Market Interest Down?

On-chain data shows Solana and other top cryptocurrencies have seen a decline in trading volume recently. Here’s what this says about the market. Solana, Bitcoin, And Ethereum Trading Volumes Have Declined Over Past Month According to data from the on-chain analytics firm Santiment, the cryptocurrency market’s trading volume has been declining since its peak in […]

Solana Whale Makes Massive 1,000,000 SOL Deposit To Binance, Bearish Sign?

On-chain data shows a Solana whale has just moved a massive SOL stack to Binance, which could prove to be bearish for the asset’s price. Solana Whale Has Deposited 1 Million SOL To Binance Today According to data from the cryptocurrency transaction tracker service Whale Alert, several large SOL transactions have occurred on the blockchain during the past day.

Solana (SOL) Price Primed For 50% Leap: Experts Turn Bullish

Crypto analysts are turning increasingly bullish on Solana (SOL), with forecasts suggesting a potential 50% surge in the near future. Following SOL’s 11% surge in the past 24 hours, several renowned analysts came forward to express their bullish stance.

Solana, Chainlink Among Coins With Overheating Open Interest: Data

Data shows Solana and Chainlink are among the top cryptocurrencies that have observed growth in Open Interest to relatively high levels. Solana & Chainlink Have Their Open Interest At Notable Values Currently According to data from the on-chain analytics firm Santiment, there has been a dramatic increase in interest in the derivative market for cryptocurrencies recently.