Ethereum Mining Rewards Hit Record Low Ahead Of Constantinople Hard Fork
Ethereum mining reward update:
The amount of Ether being generated by miners focusing on the Ethereum blockchain has recently hit a record low, weeks ahead of the upcoming Constantinople hard fork.
The amount is significant compared to the nearly 20,000 ETH mined in December of last year, and the all-time high record of over 39,000 in July of 2015.
The recent drop in ETH mining rewards appears to have been caused by a sudden hashrate increase, which according to Etherscan data saw about 400 TH of new hashrate enter the network before the reward drop.
The Constantinople hard fork consists of various Ethereum codebase modifications, specified in several Ethereum Improvement Proposals, and is set to be activated later this month.
The EIPs that composed it includes a better approach to accommodating network scaling solutions, an improvement on how contracts are processed, a more cost-efficient approach to processing information, and a 12-month delay to Ethereum’s so-called difficulty bomb, along with a mining reward reduction from 3 ETH to 2 ETH per block.
Francisco Memoria’s original article for crytoglobe.com reduced by 41%
Related cryptocurrency news – Take Two: Ethereum Is Getting Ready For The Constantinople Hard Fork Redo
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