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Ethereum Blocks Per Day

How Will Ethereum Scale?

How Will Ethereum Scale?

Like other public blockchains, ethereumintends to support as many users as it can. The problem is that, today, we don't really know the limits of theplatform. Because of a hard-coded limit on computation per block, the ethereum blockchain currently supports roughly 15 transactions per second compared to, say, the 45,000 processed by Visa. This limitation of ethereum and other blockchain systems has long been the subject of discussion by developers and academics. While ethereum developers might like to highlight how the flexible smart contract platform differs from bitcoin, for example, it isn't unique in regards to scalability. As disappointing as that might sound, there's hope in proposed solutions that havent made it into the official software yet. Ethereum and bitcoin use a combination of technical tricks and incentives to ensure that they accurately record who owns what without a central authority. The problem is, its tricky to preserve this balance while also growing the number of users (especially to the point where average people can use the system to purchase coffee or run applications). That's because ethereum depends on a network of 'nodes', each of which stores the entire ethereum transaction history and the current 'state'of account balances, contracts and storage. This is obviously a cumbersome task, especially since the total number of transactions is increasing approximately every 1012 seconds with each new block. The worry is that, if developers raise the size of each block to fit more transactions, the data that a node will need to store will grow larger effectively kicking people off the network. If each node grows large enough, only a few large companies will have the resources to run them. Despite the inconvenience, running a full node is the best w Continue reading >>

Ethereum's Block Reward Might Be Reduced From 5 Eth To 1.5 Eth

Ethereum's Block Reward Might Be Reduced From 5 Eth To 1.5 Eth

Ethereum's Block Reward might be reduced from 5 ETH to 1.5 ETH EIP186 proposes to decrease ETH mining rewards. FREE 1,000 mBTC daily for LuckyJack winners 12+ exclusive games The Bitcoin Casino by Primedice Advertised sites are not endorsed by the Bitcoin Forum. They may be unsafe, untrustworthy, or illegal in your jurisdiction. Advertise here. Seems to me this would be an incentive to buy ETH now, and hoard them. If there is a coin vote, one could use the coins to vote for the reduction in block reward, thereby increasing the chance of supply constraint and an increase in the price. So developers and speculators will like this idea, but miners will get shafted. FREE 1,000 mBTC daily for LuckyJack winners Yeah basically the eth foundation is probably pissed off their ETH is worth less from the Summer and they are blaming it on the miners since probably 50% of all the eth mined daily is dumped daily. 1 Bitcoin$15,487,372,567$963.3816,076,162---- BTC$76,229,3001.02% 2Ethereum$720,712,570---$8.2487,474,566---- ETH$10,170,0003.68% 18 Zcash$16,729,309----$48.42345,506-------- ZEC$503,671-0.08% 87 million eth coins that = common 345 thousand Zcash coins that = rare so a block size reduction will not make eth rare Please support sidehack with his new miner project Send to : 1BURGERAXHH6Yi6LRybRJK7ybEm5m5HwTr I mine alt coins with I see BTC as the super highway and alt coins as taxis and trucks needed to move transactions. Looks like they changed EIP 186 again and made the Block reward 2 ETH instead of 5 ETH. Now it all boils down to a vote whether it gets accepted or not. Majority of ETH holders are NOT miners so there is a good chance this might pass since it will at least temporarily create a price pump. FREE 1,000 mBTC daily for LuckyJack winners Quote from: adaseb on Janu Continue reading >>

Ethereum May Reduce Mining Reward And Inflation By 40%

Ethereum May Reduce Mining Reward And Inflation By 40%

Ethereum May Reduce Mining Reward and Inflation by 40% Ethereum developers are considering splitting the next big upgrade, Metropolis, into two hardforks, with the first hardfork expected sometime in September. That hardfork may reduce mining reward, and thus inflation, by around 40%, from 5 eth per block to 3 eth per block, while at the same time delaying what is called a difficulty bomb as Casper is not yet quite ready. The difficulty bomb is an automatic increase of ethereums mining difficult which has the effect of increasing block times withHudson Jameson, an ethereum developer, estimating they would rise to 45 second per block by November from what used to be around 15 seconds. That difficulty/time bomb was place in there to give miners no choice during the Proof of Stake upgrade known as Casper, but that has apparently been delayed. As such, the developers are proposing that the difficult bomb is delayed too, but to keep mining reward somewhat in line with what it would have been had the difficulty bomb proceeded, they are proposing to reduce block rewards from 5 to 3. The proposal appears popular, not least because if demand remains the same then a reduced supply may lead to a price increase, but some are concerned about the interference with fundamental parameters. Moreover, miners will need to upgrade and if they fail to do so it may lead to another chain-split. But if the proposal is indeed popular, then most eth users will probably value the reduced block reward chain higher. In any event, as a price rise to compensate for the reduced supply should be expected, it may be the case that miners are not actually affected by the change. Which raises the question of why do it at all, with the main reason appearing to be concerns over an increased miners power due Continue reading >>

Ethereum Mining Profit Calculator

Ethereum Mining Profit Calculator

Projections incorporate difficulty growth. Update themining and market parameters below to recalculate all tables andcharts. Bitcoin version . Also, don't miss the interactive charts below. ETHASH Contracts ($2.20 per 100 KH/s per year) Ethereum is a blockchain appplatform and cryptographic currency.This calculator estimates profits from Ethereum mining by forecastingcosts and future market conditions.See the sections below for more details on the methodology.If this calculator helped you earn money, or avoid losing money,then consider making a donation ! All calculations assume that mining begins immediately at the given difficulty.The default starting difficulty is the current network difficulty obtained from etherscan.io .Difficulty is then assumed to increase daily at a rate implied by the specified biweekly rate.For example, the default biweekly growth rate is 6.18%, which was approximately the average biweekly increase starting after the block reward adjustment in October 2017 and ending in January 2018, and this in turn implies a daily increase of 0.429%. The static reward for solving blocks is fixed over time at the given value (which is 3 ETH in January 2018).The USD exchange rate is held fixed, so the assumption is that all ETH revenues are held and exchanged for USD at the end of the time horizon at the given ETH/USD exchange rate.The default exchange rate is the daily volume-weighted average exchange rate obtained from Bitstamp .The default starting difficulty and exchange rate are updated periodically throughout the day.Transaction fees and uncle rewards are not included in the calculations. The default hashrate, cost, and power consumption are based on a GPU mining rig with 4x Radeon RX 470 8GB cards (100 MH/s, $1,680, 560 W).The cost of electricity is ta Continue reading >>

How The Mining Pool Works: Pplns Vs. Solo | 2miners Blog

How The Mining Pool Works: Pplns Vs. Solo | 2miners Blog

How the Mining Pool Works: PPLNS vs. SOLO Lets make it clear what mining is and how the mining pool works. We will try to explain it in a simple For Dummies way.Cryptocurrencies run on blockchains. A Blockchain is a sequence of blocks. Each new block is a piece of data. It contains information about the transactions accomplished within the last minutes or seconds (conditionally).Each new block contains a puzzle based on the data from a previous block. This irreversibility makes the blockchain special. These puzzles are being solved by your processors, graphics cards, or ASIC hardware. They are very complicated even for modern PCs, and their solving requires a huge amount of time especially if you are alone. However, we have the invention mining pools to take advantage of this issue. Many mining devices work together in a pool to solve the puzzle, finding solutions for the new blocks. Each device receives a computational task of a significant lesser level of difficulty, and the mining pool checks to see whether or not each obtained solution represents a complete solution of the puzzle or not. At the earliest days of the mining, any processor or GPU had the sufficient power required for finding many solutions per day and getting a reward for the detected block. With an increase of the interest to the cryptocurrencies, the difficulty level of the puzzles also increased, and a standalone PC could not find many solutions anymore. Difficulty level was rising because the reward for the newfound block was growing as well as its equivalent in value. That was the time when miners decided to unite their efforts and create the mining pools. Therefore, even weak devices that are working simultaneously on solving the same puzzle have a chance to find its solution which would enable Continue reading >>

Reading Byzantiums Tealeaves

Reading Byzantiums Tealeaves

Blockchain Enthusiast, Founder QuickBlocks.io and Philadelphia Ethereum Meetup, MS Computer Science UPenn I used to watch a television show called Wall Street Week with Louis Rukeyser. The host would frequently laugh at the way Alan Greenspan, the Chairman of the Federal Reserve, would testify in front of Congress. Rukeyser found it comical that we all had to read the tea leaves after Greenspan spoke. I should warn you, if I turn out to be clear, youve probably misunderstood me. ~Alan Greenspan Why did Mr. Greenspan speak in such obscure and difficult to understand language? Why did he force people to read the tea leaves? Because he knew that a single wrong word had the power to send shockwaves through the markets. Were going to do exactly this Crash goes the market. I was thinking about this recently as I followed the increasingly interesting discussions about Ethereums impending Byzantium hard fork ( EIP86 and Reddit discussion ). If there is one distinguishing characteristic about this discussion, it is that there are no tea leaves. There is simply an unambiguous statement from the core developers that the per-block reward is going to be lowered from the current five ether per block to three ether per block. Okay, maybe there is some tea, but actually we care about source code... The Go Source Code that Implements the Per-Block Reward The above two lines (and a few related lines elsewhere) implement the per-block change in the mining reward. Thats pretty unambiguous. The following conversation between the core developers and miners was completely manufactured in my own mind: Developers: Were going to make a change as part of the Byzantium hard fork to lower the per-block reward from five to three Miners: Wait. Why are you doing that? That will cost us a lot of money Continue reading >>

Accounting For The Revolution

Accounting For The Revolution

Blockchain Enthusiast, Founder QuickBlocks.io and Philadelphia Ethereum Meetup, MS Computer Science UPenn In recent weeks, the price of ether has risen from around $10.00 US dollars per ether to hovering around $20.00 US in recent days. Needless to say, this has caused a lot of discussion . We wondered if this increase in price meant that the Ethereum community was all of a sudden spending thousands of dollars more per day on gas. Or was it hundreds of dollars more per day? Or was it one dollar per day? Or even one penny? We had no basis to answer that question, so we set out to find the answer for ourselves. Before we began our search, we imposed a self-imposed rule. This rule was that we could only get the data in a fully-decentralized way. This means we could use no external web APIs or rely on any third parties. We could only use data directly from the a locally running Ethereum node. If youve ever tried to do this, you know that this means you should sit back and relax. Can you say: slooooow? Over the past year, weve been working on speeding up this data access in a fully-decentralized manner. We call our solution QuickBlocks.io. The word quick being operative. Written in C++, QuickBlocks is able to achieve speeds more than 200 times faster than the RPC. This allows us to efficiently produce answers to these questions (and many other things). The easiest way to explain QuickBlocks is to show you some code, and I will do that shortly, but first, I wanted to talk about QuickBlocks scrapes, parses, pre-digests, and caches the entire Ethereum blockchain in a fully-decentralized manner. We make the claim that our work is so decentralized that we can store the entire chain fully parsed and heavily optimized on an external drive. We call this Blockchain on a Stick, and w Continue reading >>

How To Mine 1 Ether Per Day - Updated - Quora

How To Mine 1 Ether Per Day - Updated - Quora

I believe that Jason Lim s answer is accurate. However, I did the math recently so Ill throw in my numbers. If you can somehow locate your servers in Quebec, Canada; you get hydroelectric power for 8.92/kWh (or 6.62/kWh in USD). Otherwise, try to review your options for power sources. IMHO this factor will significantly impact your risk as it is a recurring cost. For comparison sake, locating the mining servers in Florida would cost at least twice as much, not even factoring additional air conditioning requirements. Within a couple years, this difference adds up to the entire hardware cost. At the time of writing, many of the most popular mining GPUs are out-of-stock worldwide. I found SAPPHIRE NITRO+ RADEON RX 570 4G GPUs in stock from a Canadian vendor for $300 each (or $222 in USD). According to this article: Are the RX570 and RX580 Profitable? - Mining Performance Review - 1st Mining Rig , you can get a hash rate of roughly 30 MH/s from each GPU with 125W of power usage. According to CoinWars, based on todays difficulty, mining 1 ETH per day would require a hash rate of roughly 1600 MH/s. Thats roughly 53 GPUs, for a total cost of roughly $12K in GPUs. Assuming that a mining server supports 7 GPUs, you must partition your GPUs into 8 servers. Conservatively, each server might cost an additional $500 for a motherboard, CPU, cables, RAM, HD and frame. This brings the total hardware cost to roughly $16K. Power will cost roughly $3,500 per year. Consider this ROI calculator: Ethereum Mining Calculator and Profit Calculator . Here is the catch with all of this: ETH mining difficulty is increasing rapidly Ethereum Difficulty Chart and Difficulty History Chart . While this configuration will lend you 1 ETH today, it wont tomorrow. So be careful with any ROI projection. At Continue reading >>

Solidity - How Many Ethereum Blocks Are Mined In A Day?end And Startblock Specification - Ethereum Stack Exchange

Solidity - How Many Ethereum Blocks Are Mined In A Day?end And Startblock Specification - Ethereum Stack Exchange

How many ethereum blocks are mined in a day?End and Startblock specification there is a function in many ico contracts that allow people to adjust there allow purchase and disable purchase functions according to the current block height, basically a function that opens an ICO and closes it due to block height, but how do the contract deployers know how many blocks are mined everyday? doesnt this change every week? How do they know to the exact minute when there ICO will end and when it will start? Continue reading >>

How Much Can You Make Mining Ether And How Much Does It Cost To Run? <ethminer 75 Days In>

How Much Can You Make Mining Ether And How Much Does It Cost To Run?

I'll break it down for you, show youhow much it costs to get up and running, how much you'll make and how much you can expect to pay for electricity, but first I want you to know that You're probably asking the wrong question. You shouldn't be asking "How much do I make in one day of mining Ether?"... Here's why: Asking that, demonstrates that you might be getting into mining for the wrong reasons. If you're setting up a rig thinking you're going to strike it rich with a couple of GPUs in your parents basement and you've run up your credit card on 'case fans' like a hardware junkie, you might need to reconsider your goal. There is NO Ether mining 'get rich quick' scheme, nor is Ether day-trading a smooth route to a quick buck. It takes some work to get the basics working for you, but what it really takes to make it work, is Time. If you are setting up a rig for any other reason, then you might be a long haul believer, like me. As I explained in one of my first articles' How I Learned to Mine Ether... , Bitcoin never felt that exciting to me, but Ethereum held promise of a new "form" of internet, the fuel of the new web, its' technological background is fundamentally different, and better. That alone is worth it for me, but then you add to that, the fact that some of the most valuable AltCoins are based on Ethreum as well. - that's why I voted for Ethereum with my dollars. But not just buying in, I got GPUs and dedicated my PC to be a mining rig because I wanted to be a part of the support for Ethereum and learn first hand how it all fits together, I really only 'invest' in things if I can understand and see how it works - I don't buy black box anything. So, as much as I would have to pay for new GPUs, I also put some money directly into buying ETH coins with smaller pu Continue reading >>

A Gentle Introduction To Ethereum

A Gentle Introduction To Ethereum

Ethereum builds on blockchain and cryptocurrency concepts, so if you are not familiar with these, its worth reading a gentle introduction to bitcoin and a gentle introduction to blockchain technology first. This article assumes the reader has a basic familiarity with how Bitcoin works. Ethereum is software running on a network of computers that ensures that data and small computer programs called smart contracts are replicated and processed on all the computers on the network, without a central coordinator. The vision is to create an unstoppable censorship-resistant self-sustaining decentralised world computer. The officialwebsite is Itextends the blockchain concepts from Bitcoin which validates, stores, and replicates transaction data on many computers around the world (hence the term distributed ledger). Ethereum takes this one step further, and also runs computer code equivalently on many computers around the world. What Bitcoin does for distributed data storage, Ethereum does for distributed data storage plus computations. The small computer programsbeing run are called smart contracts, and the contractsare run by participants on their machines using asort ofoperating system called a Ethereum Virtual Machine. To run Ethereum, you can download (or write yourself if you have the patience) some software called an Ethereum client. Just like BitTorrent or Bitcoin, the Ethereum client will connect over the internet to other peoples computers running similar client softwareand start downloading the Ethereum blockchain from them to catch up. It will also independently validate that each block conforms to the Ethereum rules. What does the Ethereum client software do? You can use itto: Create new transactions and smart contracts Your computer becomes a node on the network, r Continue reading >>

The Ethereum-blockchain Size Will Not Exceed 1tb Anytime Soon.

The Ethereum-blockchain Size Will Not Exceed 1tb Anytime Soon.

The Ethereum-blockchain size will not exceed 1TB anytime soon. Before diving into this article, please read the two disclosures about my involvement (1,2) and the one on data accuracy (3) at the bottom of the article. At least once a month someone posts a chart on r/ethereum predicting the blockchain size of Ethereum will soon exceed 1 TB. I want to take that chance to clean up with some stories around the Ethereum-blockchain size in this article and try to explain why this chart is technically correct, but not the full picture. Let's have a look at this chart first. It shows the complete data directory size of an Ethereum node (red), Geth in this case, and a Bitcoin node (blue), probably Bitcoin-Core , plotted over time. While the Bitcoin graph is moving slightly upwards in a seemingly linear inclination, the Ethereum graph reminds the reader of an exponential growing slope. On Blocks, Block-History, States, and State-History Users accusing Ethereum of blockchain-bloat are not far off with their assumptions. But actually, not the chain is bloated but the Ethereum state. I want to examine some terminology from the Whitepaper before proceeding. Block. A bundle of transactions which, after proper execution, update the state. Each transaction-bundling block gets a number, has some difficulty, and contains the most recent state. State. The state is made up of all initialized Ethereum accounts. At the time of writing, there are around 12 million known accounts and contracts growing at a rate of roughly 100k new accounts per day . Block-History. A chain of all historical blocks, starting at the genesis block up to the latest best block, also known as the blockchain. State-History. The state of each historical block makes up the state history. I will get into the details on t Continue reading >>

Number Of Blocks Mined Per Day Currently? : Ethereum

Number Of Blocks Mined Per Day Currently? : Ethereum

Welcome to r/Ethereum , the front page of the Web 3. No inappropriate behavior. This includes, but is not limited to: personal attacks, threats of violence, gossip, slurs of any kind, posting people's private information. Keep price discussion and market talk, memes & exchanges to subreddits such as /r/ethtrader Keep plain ICO advertisements to subreddits such as r/ethinvestor . Keep mining discussion to subreddits such as /r/EtherMining . No creating multiple accounts to get around Reddit rules. English language only. Please provide accurate translations where appropriate. Posts and comments must be made from an account at least 10 days old with a minimum of 20 comment karma. Exceptions may be made on a discretionary basis. Continue reading >>

Calculating How Many Blocks Will Be Mined For A Given Hashrate

Calculating How Many Blocks Will Be Mined For A Given Hashrate

5 Ether per block during frontier apparantly. The calculation below is ignoring uncles, it's just for the static block reward. The probability of mining a block should be uniformly Since a block apparantly is mined every minute (the difficulty is adjusted thereto) So after a day you can expect on average yourHashrate / totalHashrate * etherPerDay. The stats currently state 3.1 GH/s as the total hashrate. Assuming yourHashrate = 25 MH/s that yields Then again, I'd estimate the total hashrate to be maybe a hundred times higher when more miners run their rigs. 24*60*5*(25e6/3.1e11) = 0.58 Ether / day. Anything between (and outside of) these values is possible Still open is the question of how likely it actually is to mine at least one of the 1440 blocks each day. If I'm not mistaken, then the geometric distribution applies when asking for how long to wait for a block. Continue reading >>

How Many Ethereum Blocks Are Mined In A Day?end And Startblock Specification

How Many Ethereum Blocks Are Mined In A Day?end And Startblock Specification

solidity blockchain contract-deployment tokens ico there is a function in many ico contracts that allow people to adjust their allow purchase and disable purchase functions according to the current block height, basically a function that opens an ICO and closes it due to block height, but how do the contract deployers know how many blocks are mined everyday? Doesn't this change every week? How do they know to the exact minute when their ICO will end and when it will start? Continue reading >>

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