Ethereum Sets New Throughput Record, Fees Stable

September 12, 2017

The Ethereum network continues to grow, setting a new throughput volume record at half a million transactions.

The Ethereum network set a new throughput record yesterday, processing over a half million transactions in less than a 24 hour period.

With all the news attention being focused on Bitcoin, the Chinese ICO ban, and Ripple’s lawsuit woes, Ethereum has quietly continued to grow in number of users and computational power.

Fees unchanged

While the network usage has risen exponentially, transaction fees have remained the same. Most transactions can be completed for around $0.70, substantially less than fees on many other networks. The transactions seem to be flowing from mining, exchange trading, and ICO investment payments.

The network will likely continue to see increasing volume as the Metropolis hard fork comes online in coming months. The first half of the fork, Byzantium, is scheduled to be brought online starting September 18th.

While the volume increases are encouraging for Ethereum investors, they do point to the fact that the Blockchain must implement scaling solutions in the near future. As the throughput continues to increase, these scaling solutions will become increasingly critical for maintaining service to users.

You may be interested

PR: Changelly Partners with Coinomi wallet
Crypto News
26 views
Crypto News
26 views

PR: Changelly Partners with Coinomi wallet

btcethereumadmin - September 19, 2017

This is a paid press release, which contains forward looking statements, and should be treated as advertising or promotional material. Bitcoin.com…

Pirate Bay Founder’s ‘Njalla’ Offers Anonymous Domain Registration for Bitcoin
Crypto News
44 views
Crypto News
44 views

Pirate Bay Founder’s ‘Njalla’ Offers Anonymous Domain Registration for Bitcoin

btcethereumadmin - September 19, 2017

Just recently the founder of the notorious torrent website the Pirate Bay launched a new privacy-centric domain registration service called…

How Finland is Using Blockchain Technology to Help Unbanked Asylum Seekers
Crypto News
21 views
Crypto News
21 views

How Finland is Using Blockchain Technology to Help Unbanked Asylum Seekers

btcethereumadmin - September 19, 2017

Nations around the world are witnessing an influx in refugee numbers. Yet, while countless individuals are keen to re-establish themselves…

Leave a Comment

Your email address will not be published.