Altcoin News: Mining Speed of Ethereum Blocks Increased to 12 Seconds

March 4, 2019, by Marko Vidrih on ALTCOIN MAGAZINE

After the hard forks of Constantinople, the extraction time for the blocks of Ethereum has dropped to record levels and now there are blocks every 12.5 seconds.

Before hardfork, blocks in the network were created with a frequency of 21 seconds due to the work of the “complexity bomb”. In Constantinople, the “bomb” counter was reset, and therefore the profitability of mining ETH, despite the decrease in rewards from 3 to 2 ETH, almost did not decrease. At the same time, the network’s hashrate heated by the “bomb” fell.

After the return of miners and increasing the hashrate, the complexity of mining and the interval between the blocks gradually stabilize in 13–15 seconds.

To date, there has been a slight increase in daily remuneration for the extraction of blocks. If immediately after the fork, 12,800 ETH were generated per day, now 13,600 ETH is being mined, that is, the emission is actually equal to the numbers before the fork.

Recall that the update Constantinople and St. Petersburg was activated on February 28, on block 7,280,000. Activation of Constantinople, which is part of a three-stage update called Metropolis, took place without any incidents. Users of the current version of the wallets Geth and Parity successfully synchronized, and together with the miners, operators of nodes and business representatives were in the new network.

Author: Marko Vidrih

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