THELOGICALINDIAN - Ethereum is experiencing aerial transaction volumes due to boundless mining basin activity
Ethereum miners are spamming the network’s accommodation with baby transactions, according to letters from Trustnodes.
Over One Million Transactions
The declared spam attack has brought Ethereum’s circadian transaction aggregate aloft 1 actor transactions—a aerial point not apparent back aboriginal 2024.
Several pools are partially responsible for those transactions. Ethermine fabricated added than 13,000 affairs over 24 hours. Nanopool and Sparkpool behaved similarly. The boilerplate transaction fees are $0.75 as of June 24.
Why Are Mining Pools Spamming ETH?
Trustnodes speculates that miners or pools are sending these affairs to access the rewards that appear from mining them. This behavior is accurate by the actuality that some affairs are as baby as 0.001 ETH ($0.25), suggesting that the absolute amount is absolutely independent in the transaction fee.
Trustnodes additionally considers the achievability that the aerial transaction volumes are artlessly the aftereffect of low payout thresholds. That is, mining pools could be advantageous baby miners rewards for accepted reasons. However, Trustnodes ultimately maintains that today’s transaction aggregate is boundless by any measure—equal to “two months of the arrangement active at abounding capacity,” it says.
Ethereum Congestion Continues
Ethereum bottleneck was ahead an affair for a altered reason: high-volume acute contracts. Since March, Ethereum’s accommodation has been abounding by big projects like Tether and scams such as PlusToken and MMM Token.
Incidentally, some of today’s mining-related spam has acquired those affairs to cut aback on their activity. CoinTelegraph letters that PlusToken has been clumsy to move its funds due to today’s volumes.
Congestion has additionally been an affair in accomplished years. CryptoKitties chock-full the Ethereum blockchain in 2017, while the iFish badge overburdened the arrangement in 2018. Various proposals that could break Ethereum’s bottleneck botheration are underway, including gas fee tweaks, EIP-1559, meta transactions, staking, and sharding.
