Ethereum Fees Reach 40 Cent on Tether and MLM

some ruski mlm ponzi smart contract on ethereum july 2020

Ethereum fees for a simple transaction have risen to 40 cent for the first time in months. That means the ethereum network is operating at full capacity, with the auction model now kicking in where transactions with the highest fee in 15 seconds blocks are the only ones included. That’s because the gas limit has very quickly been reached after it was raised by 20%, with ethereum now setting a new transactions level above one million a day. How much a transaction costs depends on how many gas units it requires with simple transactions of moving eth from one address to another being the cheapest. Smart contract related transactions however, like collateralizing DAI or playing on Curve, can reach $5 or more per transaction. All these fees go to miners, effectively concentrating eth, with the hashrate not moving at all really for now some two years. That presumably means miners…

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