Ethereum (ETH) miners seem to have an edge now over their arch-rivals as they surpassed Bitcoin (BTC) miners on transaction fees charged for two consecutive months.
Crypto market data aggregator Messari revealed this key metric on Thursday, showing it is the longest period that Ethereum’s transaction fee revenue had surpassed BTC in the crypto asset’s history.
Ethereum fees have been higher than Bitcoin fees for 2 months straight. It's longest streak ever pic.twitter.com/2KgnNBcrrT
— Messari (@MessariCrypto) October 8, 2020
This prevailing macro is positive for Ether miners whose turnovers have been increased by higher fees and more transactions. In fact, Ethereum’s network hash rate has been growing consistently, having reached a near two-year high.
Meanwhile, the median Ethereum gas price has massively spiked as well, reaching levels as high as 700 Gwei.
READ: 88.0% of all Bitcoins mined, as 2.5 million BTCs left to be mine
Is mining Ethereum worth it? When it comes to most crypto assets, mining difficulty and costs related to it are only going upwards.
However, as ETH mining becomes more difficult based on more miners joining the process, it is expected that cost will move upward, as more computing power, software, and electricity are needed.
Nairametrics, however, believes that ETH’s value in recent months has gained exponentially and will most likely continue to do so, thus making mining potentially profitable in the long term.
Explore Data on the Nairametrics Research Website
Quick fact; On Ethereum, all transactions and smart contract executions require a small fee to be paid, called Gas. In technical terms, Gas refers to the unit of measurement on the amount of computational effort required to execute an operation or a smart contract. The more complex the execution operation is, the more gas is required to fulfill that operation. Gas fees are paid entirely in ETH.
Please how to mine ether. Thanks
How do I start with this ?
How it’s work’s also your referral code no?
Hello sir please how do i mine eth
Mining cryptocurrency is not same as digging the ground to extract mineral. Mining in crypto lexicon simply means solving a mathematical puzzle. It is the answers to these puzzles that are sold out as cryptocurrency. Cryptocurrency is therefore not a tangible currency as in dollar, pound sterling or Naira.
How do I mine etherium??
How do I mine eth … teach us sir
How can i convert my eth to cash
Mining cryptocurrency is not same as digging the ground to extract mineral. Mining in crypto lexicon simply means solving a mathematical puzzle. It is the answers to these puzzles that are sold out as cryptocurrency. Cryptocurrency is therefore not a tangible currency as in dollar, pound sterling or Naira.