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How did Ethereum mining change after Constantinople: “bomb complexity” and hash rate



On March 1, after a significant delay , the long-awaited update of the ethereum called Constantinople was launched , which, in addition to improving the mining efficiency of Ethereum , also reduced the reward for blocks from 3 to 2 ethers (ETH).

Activation of "Bombs complexity"

Ethereum currently relies on a network in which many miners are involved in verifying transactions on the ETH blockchain. However, in future, ethereum is preparing for a transition from the current mining model called Proof-of-Work to Proof-of-Stake, which implies the abandonment of miner devices.

To keep miners from refusing to support the network, a “bomb of complexity” is included in the code of the etirium, which gradually complicates the Proof-of-Work (PoW) process and stimulates the transition to Proof-of-Stake (PoS) .

It is obvious that the ethereum miners are not interested in the Proof-of-Stake. Nevertheless, investors patiently expect a long transition to this algorithm, since it should lead to a decrease in the rate of inflation of ethereum and to an increase in its price.

On the graph below, you can see how hardfork Constantinople influenced the complexity of mining , the time of extraction of blocks and hash rate:

Reducing the average complexity of mining in the Ethereum network

The graph of the average complexity of mining etririum shows that because of hard forks, which occurred on March 1, the complexity of mining has decreased significantly.

It also indicates that a decrease in rewards for a mined block is associated with the complexity of mining in ethereum.

Reducing the average mining time of the block in the Ethereum network

After the hard fork of Constantinople, the mining time for the block of ethirium was reduced by 30% – from 19 seconds to 13 seconds.

Thus, the decrease in mining remuneration and block mining time suggests that the hard forks of Constantinople did not have a significant impact on the miners, because now the miners, although receiving less payment, can mine more blocks over a period of time.

The average hash rate on the Ethereum network has not changed. Why?

The graph above shows that after the hardfork Constantinople hash network network hash rate has not changed, which was a surprise. Since after hardforka, the complexity and mining time decreased, it was expected that the hash rate would increase dramatically, as a decrease in complexity implies an increase in productivity.

One of the reasons for the constant hash rate could be the increase in the price of ethereum after the hard forks of Constantinople, and the miners could hope for bullish forecasts for the price of the broadcast, despite the decline in remuneration for the extracted block.

Publication date 11.03.2019
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OKEx is going to launch futures on Tron on May 20,



OKEx Crypto Exchange announced the launch of futures contracts for Tron (TRX). A new financial product will appear on the trading platform already on May 20 at 10:00 Moscow time.

Justin Sun, CEO of the Tron Foundation, said that with the launch of the OKEx futures platform on the TRX, the number of transactions with a digital coin will reach 15 million per day. Note that on the eve of the network appeared information that the daily number of users of the platform of decentralized applications from Tron reached 100 thousand, exceeding the achievements of Ethereum and EOS.

The Tron project token currently occupies the 11th position in the cryptocurrency rating in terms of market capitalization. Recently, TRX was listed on the P2PB2B crypto exchange, and the number of smart contracts in the Tron-blockchain reached almost a thousand.

OKEx futures will be settled on a weekly, fortnightly, and quarterly basis. The maximum allowable shoulder size for this derivative is 20x. The new tool will combine data for the TRX / BTC pair, taking into account the performance of three crypto-exchanges – Binance, Huobi, OKEx.

TRX futures

By the way, this week the team Tron left Lucien Chen, technical director of the project. He explained his departure to the fact that TRX is no longer decentralized, now Chen is going to develop his own project, the Volume Network (VOL), which will strive to achieve the goals that were moved to the Tron Foundation.

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The Central Bank of Great Britain for the first time recognized the huge potential of Bitcoin



For the first time, a representative of the Central Bank of Great Britain commented positively on cryptocurrency and Bitcoin , in particular.

For a long time, the British financial regulator spoke extremely negatively about Bitcoin and doubted its reliability as a form of capital preservation.

For example, at the end of April, the Deputy Head of the Office for Markets and Financial Affairs of the Central Bank of the Kingdom, Dave Ramsden, reaffirmed the negative attitude of the regulator to the cryptosphere.

However, this week, the chief economist of the British Central Bank Andrew Haldane, during his speech to the students for the first time, acknowledged not only reliability, but also the gigantic prospects of Bitcoin. In his opinion, the largest cryptocurrency will be able to completely replace cash in the next 20-30 years.

Haldane said that he was following the development of the cryptocurrency industry and was aware of the existence of thousands of coins. Nevertheless, despite the fact that for the first time one of the influential employees of the British Central Bank noted the growing value of Bitcoin, the position of the regulator’s management is unlikely to change anytime soon, analysts say.

But it is quite possible that, following the chief economist, many other senior officials of the Central Bank will reconsider their position, and this will create conditions for the British Bitcoin regulator to be fully recognized as a reliable payment instrument.

Publication date 19/05/2019
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OKEx Exchange will launch TRON

OKEx cryptocurrency exchange announced the launch of TRON (TRX) cryptocurrency futures. TRON (TRX) futures trading will be available from 08:00 May 20, 2019 (CET, UTC + 1). Details as follows: https: // – OKEx (@OKEx) 17 May 2019 p. The new financial instrument will be available for trading on Monday, May 20. The following are the specifications of the TRON futures: […]



cryptocurrency futures

OKEx cryptocurrency exchange announced the launch of TRON (TRX) cryptocurrency futures.

The new financial instrument will be available for trading on Monday, May 20. The following are the TRON futures specifications:

Derivatives calculations will be made on a weekly, fortnightly and quarterly basis. The maximum possible shoulder size of this futures is 20x. The instrument will be based on data on the TRX / BTC currency pair from OKEx, Huobi and Binance exchanges.

OKEx also reported that more than 557 million OKB tokens were purchased and burned this week. Since the start of the program (May 4, 2019), more than 1 million native tokens of the exchange have been destroyed.

Recall the other day TRON support announced Opera browser.

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