Ethereum: Why is the hash factor so drastically?
As a cryptocurrency enthusiast and a blockchain lover, I followed the global estimated Ethereum hash factor, which is crucial for its scalability and decentralization. The estimated hash factor has hesitated wildly over the past year, and yesterday’s values were particularly amazing. In this article, we will examine why the shortcut factor changes so drastically.
What is the Hash coefficient?
Rate Hash refers to the number of transactions that can be processed per second in a blockchain network such as Ethereum. Basically, it is a measure of the network’s ability to validate new transactions and create new blocks. Rate Hash determines how the network can make its consensus algorithm, which ensures that all nodes on the network will agree on the state of blocks.
Why the hash factor is changing?
There are several factors that contribute to changes in the Hash factor:
- Network overload : When there are more users or transactions on the web, it becomes crowded and the hash degree slows down.
- block production : The time needed to produce a new block is directly related to the shortcut. Because the network processes more transactions per second, it’s like filling the bucket with water; After reaching the capacity, the bucket cannot withstand more water. This leads to an increase in block production times, and then reduce the shortcut coefficient.
- Network performance : General network performance, including delay, synchronization and node performance, also affects the shortcut.
- New block prizes : when new blocks are created with higher prizes (e.g. 14 ether), it can lead to increased block production times, and then reduce the hash rate.
Last changes
Yesterday’s estimated hash ratio of about 4,325,000 TH/s is much higher than the value of the previous day around 3,750,000 TH/s. This dramatic growth can be attributed to several factors:
- Increased block production : The Ethereum network feels an increase in blocks of flats due to the influx of new users and transactions.
- Improved node performance : When the network adapts to increased use, the knot performance improves, enabling faster block production time.
- New block prizes : The introduction of higher prizes for creating new blocks encouraged more nodes to participate in the network.
Implications
Although these changes may seem like a blessing for users who currently experience slower times of transaction processing or high fees, they also affect the Ethereum ecosystem as a whole:
1.
2.
Application
The Ethereum hash rate can significantly fluctuate due to various factors, including network overload, blocks of flats and improving nodes. Although these changes may seem to be a blessing for some, they are also challenging for the entire ecosystem. As the innovation and development of new solutions are introduced, it is necessary to carefully monitor the shortcut coefficient and adapt our Ethereum optimization strategies.
Sources:
- [1] “estimated shortcut” on blockchain.info
- [2] “Ethereum 2.0: The future of scalability” Vitalik Buterin
Note: This article applies only to information purposes and should not be considered as investment advice. Always conduct your own research before making any decisions regarding Ethereum or other cryptocurrencies.
