[ad_1]
The digital money industry has had to face a crisis or the other lately. The cryptography market has recently been hit hard. The value of the criptos on the market has depreciated at a very fast pace. Ethereum (ETH) is one of the most affected digital currencies in the market. The digital currency lost a large percentage of its value in November. Apart from this, the blockchain project is currently facing other important problems.
Ethereum (ETH) suffers from problems of scalability and congestion
Ethereum (ETH), after its launch, has been considered as a turning point for digital currencies and blockchain. However, blockchain is currently subject to scalability and congestion problems. Ethereum has encountered this problem of congestion for quite some time. But the problem does not seem to go anywhere, as congestion continues to increase from day to day.
The total pending transactions on the Ethereum blockchain are continuously increasing. According to Etherscan, pending transactions have exceeded the 90,000 mark. Ethereum (ETH) is the third largest digital currency in the world. The Ethereum blockchain is currently suffocated and things do not seem to work well for the blockchain project.
The issue of pending Ethereum transactions is accumulating and Ethereum needs a solution that can put all of its scalability and technical issues to rest. At the time of writing this book, the total of pending transactions on the Ethereum blockchain is 90,932, and the number is growing rapidly, according to Etherscan.
Ethereum's Blockchain sees less transaction activity
The issue of Ethereum does not end with its scalability and congestion problem. Regardless of the growing addresses on the blockchain, overall activity on the network has been downward. According to Searchain.io on November 30, the new Ethereum address had increased by 8.24%. There was also an increase of 5.56% in the active Ethereum address.
However, the inflow of transactions decreased by 16.85%. The outflow of transactions on the blockchain also decreased by 14.04%. As a result of the network scalability problem, many decentralized apps and initial token offerings are migrating from the Ethereum platform to other platforms. Other decentralized blockchain projects such as EOS, Tron and Stellar Lumens are now one of the main threats to Ethereum.
For example, PinkExc – an encryption platform based in Malaysia – has recently migrated to the Stellar Lumens blockchain from that of Ethereum. The trading platform has migrated to the Stellar Lumens blockchain because it meets their basic requirements for a transaction token of the most reliable, cheaper and faster asset value.
Another example is Blockchain Cutie – a collectable digital game – that recently downloaded the Ethereum blockchain for Tron's Mainnet (TRX). According to the company, Tron is better in terms of speed and scalability – common problems that the game was facing on the Ethereum blockchain.
Price Ethereum (ETH) today – ETH / USD
Ethereum (ETH) is currently changing hands to $ 117 after losing about one per cent of its value in the past twenty-four hours. The current digital currency market is $ 12.13 billion with a trading volume of $ 1.81 billion in the last twenty-four hours.
reported
Source link
