Ethereum Experiences The Lowest Levels Of New Coin Minting

According to Etherscan, Ethereum's daily mining award has dropped to the lowest recorded level since the start of data tracking.

Even though ETH has managed to overtake XRP once again in terms of capitalization and thus regain the second place in the rating, the project is currently experiencing difficulties in terms of new coins minting. On February 10, only 13 370 ETH was created, and this is a significant decrease compared to the same indicator in December 2018, when more than 20 000 ETH was mined per day.

The maximum level of ETH mined in one day happened on July 30, 2015, when more than 39,000 new Ethereum coins were created. The data from Etherscan confirms that the decrease in the new ETH production is the result of an increase in the complexity of new blocks calculation.

In August 2018, the Ethereum developers decided to increase the complexity of coin mining, as well as reduce the remuneration for miners. The changes should have come into force with the Constantinople hard fork; however, it became known that it was postponed once again due to another critical vulnerability. ETH miners benefit from this and expect further delays in the PoS consensus integration into the Ethereum network.

Image courtesy of Economic Times India