Ethereum Classic is an open, decentralized, and permissionless public blockchain, that aims to fulfill the original promise of Ethereum, as a platform where smart contracts are free from third-party interference. ETC prioritizes trust-minimization, network security, and integrity. All network upgrades are non-contentious with the aim to fix critical issues or to add value with newly proposed features; never to create new tokens, or to bail out flawed smart contracts and their interest groups.
On October 6, the hash rate of the Ethereum network reached an all-time high of more than 250 terahashes per second, which is 80% higher than the levels in January. Glassnode noted that this was facilitated by a surge in hype around DeFi projects, which caused an increase in gas prices. Last time such a high hash rate was in the summer of 2018, then ETH was also trading slightly above the $400 mark. In addition, mining ethereum is now three times more profitable than bitcoin. According to the F2Pool mining pool, owners of Antminer S19 Pro devices can earn $4.33 per day, while ETH miners using NVIDIA GTX Titan V cards can expect to earn $15.56.
The Decentralised Finance narrative appears to have buttressed Ethereum network activity as miners pile in to push the network's hashrate to all time highs above 260 TH/s! (x-post from /r/Cryptocurrency)
The Ethereum Network Hash Rate Chart shows the historical measure of the processing power of the Ethereum network. Highest Avg Hash Rate of 295,911.9974 GH/s was recorded on Thursday, August 9, 2018. Lowest Avg Hash Rate of 11.5297 GH/s was recorded on Thursday, July 30, 2015. Ethereum’s developers originally intended for ETH to be mined on computer CPUs but miners later discovered that GPUs gave them more hashing power. So, in the most simplest of terms: a GPU is a standard PC component that has been used for the alternative purpsoes of Ethereum mining. Ethereum network hashrate reflects the overall performance of all miners in the eth network. Currently, Ethereum network hashrate is 241.30 TH/s = 241 298 916 632 653 h/s. Network hashrate is calculated using the current network difficulty, the average block find time set by the cryptocurrency network and/or the effective block find time of the ... Ethereum hashrate is a calculated numerical value that specifies an estimate of how many hashes are being generated by Ethereum miners trying to solve the current Ethereum block or any given block. Ethereum hashrate is represented in Hashes per Second or H/s. Hashrate (Hash per second, h/s) is an SI-derived unit representing the number of double SHA-256 computations performed in one second in the bitcoin network for cryptocurrency mining. Hashrate is also called as hashing power. It is usually symbolized as h/s (with an appropriate SI prefix).
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