Ethereum Sets New Throughput Record, Fees Stable
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.
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
Blockchain Unlocks Consulting Model for Experts of All Kinds, Worldwidebtcethereumadmin - November 23, 2017
Consultants are vital to many businesses, and Blockchain can connect clients to untapped experts worldwide. Quality consultants are key to…
Keiser Envisions $100,000 Bitcoin Highbtcethereumadmin - November 23, 2017
Max Keiser is hopeful that Bitcoin could rise to $100,000 in the future, asserting its dominance as the father of…
Price Analysis, November 22: Bitcoin, Ethereum, Bitcoin Cash, Ripple, Litecoinbtcethereumadmin - November 23, 2017
Here’s a trading review on top cryptocurrencies. The views and opinions expressed here are solely those of authors/contributors and do…