Ads ad-300x250
  • Latest
  • Trending
Ethereum hashrate soars amidst NFT craze

Ethereum hashrate soars amidst NFT craze

August 30, 2021
How do Web3 and NFTs enrich the live music experience?

How do Web3 and NFTs enrich the live music experience?

January 23, 2023
Paxos offers $1.5 billion deal to MakerDAO for DAI collateralization

Paxos offers $1.5 billion deal to MakerDAO for DAI collateralization

January 23, 2023
SOL down 96.5% since its ATH: Will the Solana blockchain survive FTX?

SOL down 96.5% since its ATH: Will the Solana blockchain survive FTX?

December 30, 2022
The Human Rights Foundation funds the Bitcoin ecosystem (BTC) with $325,000

The Human Rights Foundation funds the Bitcoin ecosystem (BTC) with $325,000

December 22, 2022
What is flipping in crypto?

What is flipping in crypto?

December 18, 2022
BlackRock predicts an unprecedented recession in 2023

BlackRock predicts an unprecedented recession in 2023

December 10, 2022
Waltio outlines strategy to reduce its taxation on cryptocurrencies

Waltio outlines strategy to reduce its taxation on cryptocurrencies

December 1, 2022
BlockFi files for bankruptcy after FTX collapse

BlockFi files for bankruptcy after FTX collapse

November 29, 2022
Solana’s Phantom wallet opens to Ethereum and Polygon

Solana’s Phantom wallet opens to Ethereum and Polygon

November 29, 2022
Vladimir Putin predicts a blockchain-based international payment system

Vladimir Putin predicts a blockchain-based international payment system

November 28, 2022
The Shiba Inu (SHIB) soon at the World Economic Forum?

The Shiba Inu (SHIB) soon at the World Economic Forum?

November 26, 2022
Cloud mining fraud: founders of $575 million scam arrested

Cloud mining fraud: founders of $575 million scam arrested

November 23, 2022
CoinsMag
SignIn / SignUp
  • HOME
  • NEWS
    SOL down 96.5% since its ATH: Will the Solana blockchain survive FTX?

    SOL down 96.5% since its ATH: Will the Solana blockchain survive FTX?

    The Human Rights Foundation funds the Bitcoin ecosystem (BTC) with $325,000

    The Human Rights Foundation funds the Bitcoin ecosystem (BTC) with $325,000

    Waltio outlines strategy to reduce its taxation on cryptocurrencies

    Waltio outlines strategy to reduce its taxation on cryptocurrencies

    BlockFi files for bankruptcy after FTX collapse

    BlockFi files for bankruptcy after FTX collapse

    Solana’s Phantom wallet opens to Ethereum and Polygon

    Solana’s Phantom wallet opens to Ethereum and Polygon

    Vladimir Putin predicts a blockchain-based international payment system

    Vladimir Putin predicts a blockchain-based international payment system

  • BLOCKCHAINS
    • All
    • Algorand
    • Avalanche
    • Bitcoin
    • BNB Chain
    • Cardano
    • Cosmos
    • Dogecoin
    • Elrond
    • Ethereum
    • Monero
    • Polkadot
    • Polygon
    • Ripple
    • Shiba Inu
    • Solana
    • Stellar
    • Ternoa
    • Terra
    • Tezos
    • Tron
    How do Web3 and NFTs enrich the live music experience?

    How do Web3 and NFTs enrich the live music experience?

    SOL down 96.5% since its ATH: Will the Solana blockchain survive FTX?

    SOL down 96.5% since its ATH: Will the Solana blockchain survive FTX?

    The Human Rights Foundation funds the Bitcoin ecosystem (BTC) with $325,000

    The Human Rights Foundation funds the Bitcoin ecosystem (BTC) with $325,000

    What is flipping in crypto?

    What is flipping in crypto?

    Waltio outlines strategy to reduce its taxation on cryptocurrencies

    Waltio outlines strategy to reduce its taxation on cryptocurrencies

  • DEFI
    Paxos offers $1.5 billion deal to MakerDAO for DAI collateralization

    Paxos offers $1.5 billion deal to MakerDAO for DAI collateralization

    BlackRock predicts an unprecedented recession in 2023

    BlackRock predicts an unprecedented recession in 2023

    Free crypto / referral codes

    This (other) billionaire, who prefers Dogecoin to Bitcoin

    This (other) billionaire, who prefers Dogecoin to Bitcoin

    Google and the king of crypto oracles Chainlink (LINK) unveil their joint project

    Google and the king of crypto oracles Chainlink (LINK) unveil their joint project

    The Bitcoin (BTC) hashrate is on the rise again

    The Bitcoin (BTC) hashrate is on the rise again

    Burger King accepts Dogecoin (DOGE) in Brazil… for dog food

    Burger King accepts Dogecoin (DOGE) in Brazil… for dog food

    791 bitcoins bought for $5 9 years ago have finally come to life

    791 bitcoins bought for $5 9 years ago have finally come to life

    Binance: the rise of the BUSD impresses

    Binance: the rise of the BUSD impresses

  • NFT
    How do Web3 and NFTs enrich the live music experience?

    How do Web3 and NFTs enrich the live music experience?

    Is Apple planning to release a movie about Sam Bankman-Fried and the FTX case?

    Is Apple planning to release a movie about Sam Bankman-Fried and the FTX case?

    In the United States, a house in NFT has just been sold for $175,000

    In the United States, a house in NFT has just been sold for $175,000

    CNN is accused of rug pull by the community after its NFT project was stopped

    CNN is accused of rug pull by the community after its NFT project was stopped

    The OpenSea marketplace lands on Avalanche (AVAX)

    The OpenSea marketplace lands on Avalanche (AVAX)

    Japan sees the future in nft and metaverse

    Japan sees the future in nft and metaverse

  • GAMES
    Square Enix partners with Oasys to develop blockchain games

    Square Enix partners with Oasys to develop blockchain games

    Epic Games gets a head start on its Steam competitor

    Epic Games gets a head start on its Steam competitor

    Do you have to be a bot to enjoy web 3 (bad) games?

    Do you have to be a bot to enjoy web 3 (bad) games?

    StepN partners with Atletico and WhaleFin for a collection of exclusive NFTs

    StepN partners with Atletico and WhaleFin for a collection of exclusive NFTs

    Crypto Gaming, an industry revolution this year?

    Crypto Gaming, an industry revolution this year?

  • METAVERSE
    Solana’s Phantom wallet opens to Ethereum and Polygon

    Solana’s Phantom wallet opens to Ethereum and Polygon

    Is Apple planning to release a movie about Sam Bankman-Fried and the FTX case?

    Is Apple planning to release a movie about Sam Bankman-Fried and the FTX case?

    World Cup in Qatar: FIFA plunges into the mawkishness

    World Cup in Qatar: FIFA plunges into the mawkishness

    The United Arab Emirates: a first “meta-nation”?

    The United Arab Emirates: a first “meta-nation”?

    At Meta, employees are forced to log into the Horizon Worlds metaverse

    At Meta, employees are forced to log into the Horizon Worlds metaverse

    No, Decentraland does not have only 38 daily active users

    No, Decentraland does not have only 38 daily active users

    Japan sees the future in nft and metaverse

    Japan sees the future in nft and metaverse

    Yuga Labs unveils its new community board in charge of the project’s evolution

    Yuga Labs unveils its new community board in charge of the project’s evolution

  • FREE CRYPTOS
  • TUTORIALS
    Buy a Ledger wallet on Amazon – Is it really secure?

    Buy a Ledger wallet on Amazon – Is it really secure?

    Odysee | EARN Lbry Credits (LBC) watching videos

    Odysee | EARN Lbry Credits (LBC) watching videos

    Web 3.0: better infrastructure needed to stop centralization

    Web 3.0: better infrastructure needed to stop centralization

    Avoiding NFTs scams: how to spot scams

    Avoiding NFTs scams: how to spot scams

    Is buying real estate in the metaverse a wise investment?

    Is buying real estate in the metaverse a wise investment?

    FOMO, the crypto investor’s worst enemy – 10 Rules to fight it

    FOMO, the crypto investor’s worst enemy – 10 Rules to fight it

No Result
View All Result
CoinsMag
No Result
View All Result

Ethereum hashrate soars amidst NFT craze

August 30, 2021
in Ethereum, News
Ethereum hashrate soars amidst NFT craze

The network’s hash rate hits a new record high after experiencing a significant drop after May 2021. The network continues to receive enough hashing power, as the progression to Ethereum 2.0 slowly pushes miners out the door. out the door

End of migration for Ethereum miners

According to data from The Block, Ethereum’s 7-day average hashrate set a new record on August 26, 2021, surpassing the 600 Terahashes per second (TH/s) mark, a level it had been approaching in May 2021. This hashrate subsequently dropped to 465 TH/s on July 6, 2021.

This sharp drop was largely due to the hunt for miners in China who then had to stop mining and move to other countries. Bitcoin’s hash rate (BTC) had also been a victim of this crackdown, but the hashrate has been on the rise again recently, a rebound signaling the end of the miner migration.

Ethereum’s record-breaking hashrate in an offbeat environment

Ethereum’s hashrate hits a new high as activity on the blockchain increases with the continued development of decentralized finance, but also with NFT fever in the summer of 2021. To name just a few cases illustrating this “craze” around NFTs, the Art Blocks platform’s Fidenza #313 recently sold for 1,000 ETH, or about $3.3 million at the time of sale. And these NFTs sold or valued at 7 figures or more are not rare. Feisty Doge, the NFT containing Dogecoin’s (DOGE) Shiba Inu photo, is estimated to be worth $110 million thanks to a split strategy.

This new record reached by the Ethereum hashrate is all the more interesting, as it comes only a few weeks after the London update that implemented the burn (destruction) of a part of the fees on the network, and which was theoretically supposed to impact negatively on the miners’ income. Miners were not happy with the arrival of this new mechanism. In view of the current hashrate, miners have not left the network, although the next upgrades will see a switch from proof of work to proof of participation, an advance that will signal the end of mining on Ethereum.

Will miners increase their hashing power more and more as the date of this switch to proof of participation approaches? They would be doing their utmost to earn more Ether than in recent years, a motivation that would be explained by the potential of Ether, which would even present a better trading configuration than Bitcoin according to a former Goldman Sachs executive.

ShareTweetPinSendShareSend
Previous Post

Taxman’s eye on their winnings, Axie Infinity (AXS) fans under stress

Next Post

CELO puts 100 million on the table and joins the giants of Decentralized Finance

Related Posts

SOL down 96.5% since its ATH: Will the Solana blockchain survive FTX?
News

SOL down 96.5% since its ATH: Will the Solana blockchain survive FTX?

December 30, 2022
2.5k
The Human Rights Foundation funds the Bitcoin ecosystem (BTC) with $325,000
Bitcoin

The Human Rights Foundation funds the Bitcoin ecosystem (BTC) with $325,000

December 22, 2022
2.3k
What is flipping in crypto?
Bitcoin

What is flipping in crypto?

December 18, 2022
2.4k

Popular news

  • How do Web3 and NFTs enrich the live music experience?

    How do Web3 and NFTs enrich the live music experience?

    0 shares
    Share 0 Tweet 0
  • Free crypto / referral codes

    0 shares
    Share 0 Tweet 0
  • Paxos offers $1.5 billion deal to MakerDAO for DAI collateralization

    0 shares
    Share 0 Tweet 0
  • SOL down 96.5% since its ATH: Will the Solana blockchain survive FTX?

    0 shares
    Share 0 Tweet 0
  • The Human Rights Foundation funds the Bitcoin ecosystem (BTC) with $325,000

    0 shares
    Share 0 Tweet 0

Categories

  • Privacy Policy

© 2022 - CoinsMag

No Result
View All Result
  • HOME
  • NEWS
  • BLOCKCHAINS
  • DEFI
  • NFT
  • GAMES
  • METAVERSE
  • FREE CRYPTOS
  • TUTORIALS

© 2022 - CoinsMag

This website uses cookies. By continuing to use this website you are giving consent to cookies being used. Visit our Privacy and Cookie Policy.
Ads Blocker Image Powered by Code Help Pro

Ads Blocker Detected!!!

We have detected that you are using extensions to block ads. Please support us by disabling these ads blocker.