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Ethereum Transactions Chart

Will The Kitten Problem Besolved?

Will The Kitten Problem Besolved?

Ethereum network is completely overloaded. 24K pending transactions right now. Lordmancer II ICO ( ) smart contract cannot receive some payments for days. Etherescan.io shows transactions as pending for 3040 minutes, then they disappear and then appear once again. And this lasts for a couple of days already. A total mess. The number of pending transactions has been dramatically increased during last days as it shown on the chart below. What is the reason? The Kittens!!! Just look at the list of pending transactions: One game running on Ethereum can completely destroy the blockchain network. Only miners win. Everybody try to increase the gas price. 5 days ago you could send a transaction with 0.1 Gwei gas price and it was processed successfully, now the price should be at least 40 Gwei. Will the minimum be 60 Gwei tomorrow? Will a transaction cost $3 as in Bitcoin blockchain? I hope Vitalik has a solid plan how to improve the network. Otherwise centralized platforms will rule the world for ages. What do you think? How can this problem be solved? Share your opinions! Continue reading >>

Correlation Between #transactions And $ Market Price. A Comparative Look On Bitcoin And Ethereum In The Last 2 Years - Ethtrader

Correlation Between #transactions And $ Market Price. A Comparative Look On Bitcoin And Ethereum In The Last 2 Years - Ethtrader

Correlation between #transactions and $ market price. A comparative look on Bitcoin and Ethereum in the last 2 years Shown is the marketprice of Bitcoin/Ethereum (marketcap divided by number of coins at that time) in red and a transformation of the number of transactions in blue to estimate the marketprice from this. Metcalfe's law states that in a network the number of nodes relate to the network value by a square law. This is not an exact law and the number of transactions is also not exactly the number of nodes. Phenomenologically a power of 1.5 and a scaling factor of 100 have shown to produce a good match between #tx and marketcap for both Ethereum and Bitcoin (thus the graph shows 100 * tx ** 1.5). The correlation have been true in the last 2 years for both coins for most of the time up to March 2017. Ethereum still holds to this correlation. so what does it mean to not hold the correclation (btc)? 1) the correlation is suddenly gone although being true for several years 2) bitcoin transactions will increase a lot I would wager if you converted transactions into dollars spent on transactions the correlation would hold. Which would mean demand is still there, the network just can't handle it. Maybe OP would make that graph for us as well(little tougher probably) :) Quite interesting! I downloaded cost per transaction ( ) and the number of transaction also from blockchain.info and multiplied those. If plotted together with the market price of Bitcoin, you can also match those two graphs! I had to divide one graph by 3600 to match them. But I think the 3600 is arbitrary ? This is good work; instead of dividing by 3600 though (which is arbitrary) scale the cost per transaction to the right axis. This will overlay the two, and allow for a more accurate comparison (alt Continue reading >>

12 Answers - Is Bitcoin Or Ethereum The Projected Winner Of The Market As Of 2017? - Quora

12 Answers - Is Bitcoin Or Ethereum The Projected Winner Of The Market As Of 2017? - Quora

Is Bitcoin or Ethereum the projected winner of the market as of 2017? Ethereum will likely surpass Bitcoin as the most valuable blockchain. The cryptocurrency market isnt quite winner-take-all, but the network effect is extremely strong. In the long-run there will likely be a few(possibly one) winner supported by many altcoins that serve a specific niche. We can compare Ethereum to Bitcoin in the following charts: There were 162k transactions on the Ethereum blockchain on 5/19/2017. Here is a chart of the confirmed transactions on the Bitcoin blockchain. There are already almost half as many transactions on the Ethereum blockchain as the Bitcoin blockchain, and Ethereum is growing exponentially, while Bitcoin has reached its maximum capacity for now. Cryptocurrencies, like social networks, have extremely strong network effects. As the adoption of Ethereum continues to grow, its utility and value will grow exponentially.. As you can see from chart above, Bitcoin was experiencing rapid growth until the beginning of 2017. The following chart of the Bitcoin mempool will explain why the growth has flatlined. Extremely bullish? Well in this case higher is not better. The mempool consists of all the data from Bitcoin transactions waiting to be confirmed. There is currently a backlog of almost 3,000,000 transactions! Bitcoin can only process a maximum of 7 transactions per second so it would take approximately 5 days to clear the backlog if no new transactions are made. Even though more and more people are introduced to Bitcoin every day, the network cant handle any more transactions. Because of this, many developers have chosen to develop their apps on the Ethereum blockchain instead. In the case of Storj , they actually moved from the Bitcoin blockchain to the Ethereum block Continue reading >>

Network Transaction Fees Crypto Voices

Network Transaction Fees Crypto Voices

Green area: Total transaction fees per day, in US$; Blue line: Average transaction fee, in US$. Green area: Total transaction fees per day, in coins; Blue line: Average transaction fee, per byte of data accepted into each block, in coin's smallest denomination (except in Ethereum's case). Note that Ethereum's total network "transaction fees" are calculated by a two-step process. First, you need to understand the "gas"price. This is an extremely small figure, intended to be decoupled from ether's market price. Here we are measuring it in szabos, which amounts to 0.000001 ether per 1 szabo. Ethereum's denominations actually go much smaller than this, down to something called wei. One ether would amount to 1e18 wei; or a 1 with 18 zeros behind it. In any event, after the average gas price is understood, one would need to multiply this price by the total amount of gas units purchased in each block. Users must purchase any number of "gas" units to run different computations and contracts on Ethereum's network. The market history of both these figures is graphed below. Here, we can also see the dynamic limit that Ethereum places on gas units which can be purchased in each block. This limit is set dynamically by miners. Both are reflected in the right axis. As discussed in the network cost / block reward section, the "block reward"is essentially a revenue item for miners, and a cost item for the rest of us. Remember, it usually compromises both inflation (newly "mined" coins) and some form of transaction fees. This section isolates and graphs transaction fees only. Typically, miners choose which transactions they want to include in each block, based on how high their transaction fees are. The higher the transaction fee, the more likely your transaction is to be included and e Continue reading >>

Ethereum Block Production Continues Toslide

Ethereum Block Production Continues Toslide

Blockchain Enthusiast, Founder QuickBlocks.io and Philadelphia Ethereum Meetup, MS Computer Science UPenn Ethereum Block Production Continues toSlide Two weeks ago, we wrote this Medium post in which we describe the slowdown in per-week block production due to the Ice Age or Ethereum Difficulty Bomb. We thought it would be interesting to continue to watch the process as it unfolds. We wondered Is the difficulty bomb having its desired effect? The following chart is the one we presented two weeks ago. It shows the number of blocks produced each week since the inception of the Ethereum chain (August, 2015). The slowdown in block production is readily apparent. As you can see, the difficulty bomb whose nominal purpose is to slow down block production is workingvery well. The number of blocks produced during the week ending September 8, 2017 was as low as its been since the inception of the chain. Interesting. The inverse of the lowering of the number of blocks produced per period is the time it takes to produce each block. Here, the exponential decrease in per-period block production is more apparent. In this chart we show the number of seconds it takes to create each block on average since inception. As you can see, after the Homestead fork, the number of seconds needed to produce a block hovered almost exactly on 14 seconds for more than a year. Its been rapidly increasing since April when the difficulty bomb began. The step-wise behaviour of the increase is also apparent if one looks closely. Does Less Blocks Mean Less Transactions? Given tweets such as the one to the left and this one , which seem to contradict the idea that there are less blocks being produced, we wondered if increasing transactions and less blocks could both be true at the same time. If the number o Continue reading >>

Ethereum Price Analysis - Consolidation Likely In The Near Future

Ethereum Price Analysis - Consolidation Likely In The Near Future

Ethereum Price Analysis - Consolidation likely in the near future Josh Olszewicz , 20 Dec 2017 - Ethereum , Opinion , Price Analysis Ethereum (ETH) has continued to push North, having gained 77% this month alone. The market cap now stands at US$73.2 billion with US$3.4 billion in trading volume over the past 24 hours. Recent talking points include a blog post by Preethi Kasireddy, fundamental challenges with public blockchains .The post outlines several problems faced by blockchain platforms at the moment; limited scalability, limited privacy, lack of formal contract verification, storage constraints, and unsustainable consensus mechanisms- to name a few. Scaling issues on Ethereum became apparent in a post-CryptoKitties world. The Decentralized Application (Dapp) helped pushed an already busy network to its limits upon release. In the span of four days, CryptoKitty transactions went from 3% of all Ethereum transactions to 11.77%. This resulted in transaction backlogs, network delays, and higher gas fees. The backlog of transactions currently stands at over 14,000 transactions. Ethereum is capable of running 10-30 transactions per second. Vitalik Buterin, Vlad Zamfir, and other Ethereum developers are currently working on a variety of scaling solutions, the most drastic being a switch from Proof of Work (PoW), or mining, to Proof of Stake (PoS). The decision between PoW and PoS circles back to the issue with consensus mechanisms. PoW favors those who can amass the most mining technology with the cheapest electricity whereas PoS favors those who accumulated assets early in the coins life cycle.PoS coins are currently underutilized compared to PoW coins in terms of transactions per day. There has been increasing concern lately over the amount of electricity being soaked Continue reading >>

This Giant Infographic Compares Bitcoin, Ethereum, And Other Major Cryptocurrencies

This Giant Infographic Compares Bitcoin, Ethereum, And Other Major Cryptocurrencies

View a high resolution version of this graphic Comparing Bitcoin, Ethereum, and Other Cryptos View the high resolution version of todays graphic by clicking here . Unless youve been hiding under a rock, youre probably aware that were in the middle of a cryptocurrency explosion . In one year, the value of all currencies increased a staggering 1,466% and newer coins like Ethereum have even joined Bitcoin in gaining some mainstream acceptance. And while people like Jamie Dimon of J.P. Morgan and famed value investor Howard Marks have been extremely critical of cryptocurrencies as of late, many other investors are continuing to ride the wave. As weve noted in the past, the possible effects of the blockchain cannot be understated, and it could even change the backbone of how financial markets work . However, even with the excitement and action that comes with the space, a major problem still exists for the layman: its really challenging to decipher the differences between cryptocurrencies like Bitcoin, Ethereum, Ethereum Classic, Litecoin, Ripple, and Dash. For this reason, we worked with social trading network eToro to come up with an infographic that breaks down the major differences between these coins all in one place. Here are descriptions of the major cryptocurrencies, which make up 84% of the coin universe. Bitcoin is the original cryptocurrency, and was released as open-source software in 2009. Using a new distributed ledger known as the blockchain, the Bitcoin protocol allows for users to make peer-to-peer transactions using digital currency while avoiding the double spending problem. No central authority or server verifies transactions, and instead the legitimacy of a payment is determined by the decentralized network itself. Bottom Line: Bitcoin is the original c Continue reading >>

Ethereum Price Today - Live Ether Price Chart & History | Jm Bullion

Ethereum Price Today - Live Ether Price Chart & History | Jm Bullion

Our ethereum price charts are an easy reference for current ETH prices. In addition to displaying the current live ETH price, our interactive charts allow you to examine historical ether prices. Above are live ethereum price charts. Price charts are available on multiple timeframes and can be used to try to identify price trends in the market or to look for potential buying or selling opportunities. We also offer pricing charts for bitcoin prices , litecoin prices , ripple prices , dash prices , bitcoin cash prices , monero prices , iota prices , and nem prices . Ethereum is an open software platform that utilizes blockchain technology to allow developers to build and use decentralized applications. Although this technology is often compared to Bitcoin , it has some significant differences. Bitcoin and Ethereum are both distributed public blockchain networks, however, there are substantial differences between uses and capabilities. Ethereum miners work to earn Ether, a crypto token that fuels the network. In addition to being a tradable digital currency, however, Ether is also used to pay for transaction fees and services on the softwares network. Ethereum is much, much more than just a means for digital payments and transactions; it has the ability to run applications without any worry over third party interference, downtime, censorship or fraud. Could blockchain currencies replace fiat currency? This is one of the biggest questions surrounding digital currencies, and right now there is no answer. There has been a movement to use such networks more and more in place of traditional paper money, however, that movement has only recently gained steam. Some might argue that such networks are as of yet unproven to handle a global monetary system, and others argue that such Continue reading >>

Bitcoin Vs. Ethereum

Bitcoin Vs. Ethereum

/ 9 Comments /in Digital Literacy /by Chris Castiglione Whats the difference between Bitcoin and Ethereum? First, its important to understand that there are two categories of digital coins:Cryptocurrencies (e.g. Bitcoin, Litecoin, Monero, ZCash, etc) andTokens(e.g. Ethereum, Filecoin, Storj, Blockstack, etc.) Bitcoin is a cryptocurrency. Bitcoin and other cryptocurrencies are competing against existing money (and gold) to replace them with a truly global currency. A global currency which allows individuals to own their own money (without having to rely on national banks). Lower fees for transferring money across geographic borders. Financial stability for people who live in countries with unstable currencies. (e.g. In 2016, the Venezuelas currency hit an inflation rate of 800%). In addition, two-thirds of the current global population has no access to banking, or limited access Bitcoin is changing that. Ethereum is a token.What Bitcoin does for money, Ethereum does for contracts. Ethereums innovation is that is allows you to write Smart Contracts: basically any digital agreement where you can say if this happens, then something else happens. For example: If I vote for the President, then my vote is official and no one else can vote as me. If I sign my name on this document, then I own the car, and you no longer own the car. Up until now weve carried out these agreements with a signature at the bottom of a paper document. Ethereum dramatically improves this model because it is digital, and proof of the transaction can never be deleted. Vitalik Buterin; Other co-founders include Gavin Wood and Joseph Lubin Deflationary (a finite # of bitcoin will be made) Inflationary (much like fiat currency, where more tokens can be made over time) 12.5 at the moment. Half at every 210 Continue reading >>

Cryptokitties Is Causing Ethereum Network Congestion Quartz

Cryptokitties Is Causing Ethereum Network Congestion Quartz

The network congestion forced the games developers, a Vancouver company called Axiom Zen, to raise prices. This made processing the games transactions more attractive to ethereum miners, improving the odds of the transactions being accepted. Some $2.7 million has changed hands on the CryptoKitties marketplace in the six days it has been active, according to data from Crypto Kitty Sales. The developers of the game told Quartz it had 1,165 players on Dec. 1 (Update: the game has 6,600 active players as of Dec. 4, according to Benny Giang of Axiom Zen). Due to network congestion, we are increasing the birthing fee from 0.001 ETH to 0.002 ETH. This will ensure your kittens are born on time! The extra is needed to incentivize miners to add birthing txs to the chain. Long-term solution will be explored very soon! CryptoKitties (@CryptoKitties) December 3, 2017 To recap, a unique property of a blockchain-based game like CryptoKitties is the fact that the games collectibles are digital objects that dont depend on their issuer for their existence. This means that CryptoKitties developers could vanish tomorrow, but the kittens would still exist as smart contracts on the ethereum blockchain, with their current owners. This is in contrast to valuable collectibles in popular online games like Counterstrike or World of Warcraft, whose existence and ownership rely on the games publishers maintaining centralized servers storing those digital items. The popularity of CryptoKitties, and the resulting congestion on the ethereum network, lays bare the central challenge for blockchain architects: Decentralizing an application can potentially make it very valuable, as in the case of the immutable kittens in the game. Yet no one has yet designed a way to make these decentralized platforms de Continue reading >>

Ethereum Slides As Network Backlog Points To Growing Pains

Ethereum Slides As Network Backlog Points To Growing Pains

Bloomberg the Company & Its Products Bloomberg Anywhere Remote LoginBloomberg Anywhere Login Bloomberg Terminal Demo Request Connecting decision makers to a dynamic network of information, people and ideas, Bloomberg quickly and accurately delivers business and financial information, news and insight around the world. Connecting decision makers to a dynamic network of information, people and ideas, Bloomberg quickly and accurately delivers business and financial information, news and insight around the world. Ethereum Slides as Network Backlog Points to Growing Pains Initial coin offerings seen causing bottleneck in the network Bitfinex, ShapeShift exchanges halt ethereum transactions Ether, the virtual currency based on the ethereum blockchain,might be getting too popular for its own good. The cryptocurrency slumped after congestion on its network slowed transactions, adding to concerns the novel combination of decentralized computing and cryptography hasnt reached the level of maturity needed to go mainstream even as a growing cohort of investors clamor for access to the digital tokens. It fell 9.5 percent to $328, according to prices compiled by Coindesk.com. Ether reached a record $402 earlier this month. A series of initial coin offerings based on the ethereum network caused orders of ether to spike and triggered a bottleneck in the network, said crypto-trading platformCoinDash Chief Executive Officer Alon Muroch in an interview from Israel. A huge amount of people wanted to send money into the smart contract of the ICO at the same time and its taking longer to process all those transactions, Muroch said in a telephone interview. More and more people are using this new technology to the point that were stretching its limit. Mobile messaging platform Status, distri Continue reading >>

How Ethereum Works - Coindesk

How Ethereum Works - Coindesk

CoinDesk Launches 2017 Year in Review Opinion and Analysis Series Now that we've covered what ethereum is, let's dive deeper into how the platform functions under the hood. Consider the online notebook application described in " What is Ethereum? " Using ethereum, the appdoesn't require one entityto store and control its data. To accomplish this, ethereum borrows heavily from bitcoin's protocol and its blockchain design, but tweaks it to support applications beyond money. Ethereum aims to abstract away bitcoin's design, however, so that developers can create applications or agreements that have additional steps, new rules of ownership, alternative transaction formats or different ways to transfer state. The goal of ethereum's 'Turing-complete' programming language is to allow developers to write more programs in which blockchain transactions could govern and automate specific outcomes. This flexibility is perhaps ethereum's primary innovation, as explained in the guide " How Ethereum Smart Contracts Work ". The structure of the ethereum blockchain is very similar to bitcoin's, in that it is a shared record of the entire transaction history. Every node on the network stores a copy of this history. The big difference withethereum is that its nodes store the most recent state of each smart contract, in addition to all of the ether transactions. (This is much more complicated than described, but the text below should help you get your feet wet.) For each ethereum application, the network needs to keep track of the 'state', or the current information of all of these applications, including each user's balance, all the smart contract code and where it's all stored. Bitcoin uses unspent transaction outputs to track who has how muchbitcoin. While it sounds more complex, the id Continue reading >>

Analysis: Are 70 Percent Of Ethereums Transaction Value The Result Of A Huge Mixer?

Analysis: Are 70 Percent Of Ethereums Transaction Value The Result Of A Huge Mixer?

Analysis: Are 70 percent of Ethereums Transaction Value the Result of a Huge Mixer? For some months the Ethereum network has processed more transactions than Bitcoin . However, a recent study discovers that 68 percent of the transactions value belongs to a huge mixer which obfuscates the origin of the ether. But the source could be more boring than supposed on first thought. Actually Ethereum enjoys the nimbus of being the white blockchain. While bitcoin has the bad reputation as the Dark Nets currency of choice, ether usually is classified as the innocent currency of banks and geeks. However, this standing has started to totter. Not only has the ICO hype demonstrated that Ethereums first killer app is being a global platform for unregulated crowdfunding a new analysis of Ethereums transaction graph has what it takes to disrupt the nice guy image further. At least the authors of the analyses claim that in the center of Ethereums economic activity is a mixer. And usually, mixers are not said to be a tool for those who have nothing to hide. But before we take premature conclusions, lets take a look at the analysis. Throwaway Addresses at the Core of the Scheme The Cyber Blog team analyzed all Ethereum transactions from Genesis Block to September 15, 2017. To do so, they clustered the addresses, which means that they searched for patterns which indicate that the addresses belong together. The concept is well known from Bitcoin, where sophisticated clustering algorithms have started to play a growing role in law enforcements investigations of Dark Net activities. The clustering analysis of Ethereum s blockchain resulted in a remarkable new finding; there is a class of throwaway addresses. These addresses received money, sent money shortly after and have never been used sin Continue reading >>

Charts - Coin Metrics

Charts - Coin Metrics

Only price and exchange volume data is available for Ripple (XRP) currently. Daily on-chain transaction volume is calculated as the sum of all transaction outputs belonging to the blocks mined on the given day. Known change outputs are not included. Estimation difficulties remain and the measure is imprecise. We discuss this here . Transaction count doesnt include coinbase transactions. Value of Created Coins (VoCC) is the USD value of new coins minted on a given day multiplied by the closing price on the same day. Inflation is computed by dividing created VoCC by network value (market cap) which is equivalent to dividing amount of coins minted on the given day by total coin supply on the same day. Zcash figures for on-chain volume and transaction count reflect data collected for transparent transactions only. In the last month, 10.5% (11/18/17) of ZEC transactions were shielded, and these are excluded from the analysis due to their private nature. Thus transaction volume figures in reality are higher than the estimate presented here, and NVT and exchange to transaction value lower. Data on shielded and transparent transactions can be found here and here . Decred data doesnt include tickets and voting transactions. Monero transaction volume, NVT and exchange to transaction volume are impossible to calculate due to RingCT technology which hides the amounts sent for every transaction. Continue reading >>

Ethereum Chart - Total Transactions - Ethereum Price

Ethereum Chart - Total Transactions - Ethereum Price

The total number of Ethereum transactions is going through the roof. That is no coincidence. As explained by InvestingHavens research team in their Ethereum Price Forecast it appears that a growing number of Ethereum based applications are being launched and developed. We clearly see a trend in the number of Ethereum based blockchain applications. We may lack specific data, because most of those applications are private in nature, and associated usage stats are not released. Ethereum isplaying a major role in applications like predictive analysis, decentralized market places, cross border payment services, digital signature in transactions, digital rights management, crowdfunding, and many more. It is true that theexact usage of Ethereum based applications remains largely unknown. However, there is one Ethereum chart which gives an indication of what is really happening in Ethereum land: the total number of Ethereum transactions. As seen on below chart, courtesy of Etherscan.io , Ethereum has a relatively low usage (in terms of transactions) between January 2016 and 2017. However, as of March of 2017 the number of Ethereum transactions truly exploded. That is really no overstatement. In 3 months time the number of Ethereum transactions went up 4-fold. This is also reflecting Ethereums price. The price rose sharply starting in March. Ether is well on its way to become the standard in decentralized applications among cryptocurrencies. Moreover, it is well on its way to attract major investment demand. These are the underlying fundamental reasons for Ethereums explosion in its transaction chart. Receive Ethereum price and news updates by email Continue reading >>

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