Research shows that Minereum Blockchain miners are paid almost $ 2.5 billion a year



  Research-Reveals-That-Ethereum-Miners-Make-2-5-Billion-on-an-Annual-Base

Research reveals that Ethereum's bankers earn $ 2.5 billion annually [19659003] While the prices of Ethereum have faltered and its network has faced endless scalability challenges Investors who pull out the second largest digital currency have somehow managed to get an annual payment worth as much as $ 2.5 billion. According to a report published by TrustNodes, 8% of Ethereum's current market capitalization ($ 30 billion) is generated by mining revenue. , which was collected in a 24-hour period before August, revealed that the ETH miners exhort a daily incentive of $ 6.6 million, if this figure is spread over 12 months, amounts to $ 2.4 billion and it can further increase depending on the value of Ethereum .

In addition, the study also found that the rate of inflation of Ethereum doubles the rate of Bitcoin, settling at 7.3%. During the same period, the Bitcoin miners received 13 million dollars. By comparison, Bitcoin's annual mining payout of $ 4.5 billion equals a paltry 4% of its market capitalization ($ 111 billion). The report indicated that the high rate of inflation of Ethereum is due to the delay in the deployment of the "difficulty bomb", an update aimed at curbing the threatening activity of the ASIC mining platforms by implementing a Proof- algorithm. of-Stake. However, the update, called Casper, is scheduled to go live after next year. Until then, uncertainties regarding the ETH bid limit could significantly increase inflation rates.

The Issue Challenge on Ethereum Blockchain

Prior to Casper, Ethereum did not expect the supply limit to exceed 100 million ETHs, but it currently stands at 101.3 million ETHs. To control the inflation resulting from this excess offer, the developers on the Ethereum blockchain proposed reducing the issue rate. In this regard, several suggestions were addressed. The first proposes to increase the reward of the 5 ETH block, the second tries to maintain the current 3 ETH rate, the third aims to reduce the 2 ETH premium and the latest proposes the reduction to only 1 ETH.

Among the proposals mentioned above, the last option (1 ETH block premium) received the highest support among the members of the Ethereum community, with 65,000 votes in favor of ETH. At current rates, this equates to $ 21 million. If implemented, this suggestion would substantially reduce the inflation rate to 2.3%, a figure that the Bitcoin project would hit in the next two years. On the other hand, $ 7 million worth of ETH favored the reward proposal for the 2 ETH block, while a mixed ETH 2.1 voted to increase the 5-reward rate ETH per block.

Security Exchange for Lower Incentives

Miners who voted against reducing the rate of return of the block claimed that the decrease would result in lower income. However, this is not true, since limiting the supply of ETH would increase demand, resulting in a significant increase in its fiat price. The greatest concern, however, is whether the block premium on the Ethereum network is adequate to foster reliable security on the blockchain.

Bitcoin currently averages a daily trading volume of $ 4 billion, while Ethereum carries $ 365 million over the same period. In addition, Bitcoin has a reward rate of $ 80,000, while ETH pays $ 1,150 for each new block generated. Despite this, blocking times are considerably faster on the Ethereum blockchain (15 seconds), while Bitcoin takes 10 minutes to generate new blocks. That said, the premium rate of the proposed ETH block 2 hits the ideal budget on the Ethereum network, as it regulates inflation rates and provides adequate incentives.


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