Ethereum co-founder Vitalik Buterin, has noted that the processing cost of transactions completed in the token Ether on the main blockchain may get too expensive for some users.
The network utilization has now spiked to the 90% level according to etherscan.io.
This is not the first time something like this has happened like two years ago Crypto Kitties and lots of scam coin offerings clogged up the network.
Now a new coin (Tether) is taking over and it has been said that Tether paid computers which process transactions on Ethereum’s digital ledger around USD 260,000 in fees, according to data researcher Ethgasstation.info.
“The Ethereum blockchain has been ‘almost full for years,”’ Buterin said in an email to Bloomberg. “I think it’s still good to develop apps, but anything substantial should be developed with scalability techniques in mind, so that it can survive higher transaction fees that would come with further growing demand for Ethereum. In the longer term, Ethereum 2.0’s sharding will of course fix these issues.”
The market cap of Tether has now surpassed the USD 4 billion mark and at least 40% of all trades are made on the Ethereum block. It has also now been said that some developers are waiting for Ethereum to tweak its blockchain to allow more capacity. Ethereum is still working on its new Ethereum 2.0 with some users sceptical that it could even do the job.
All information and content on this website, from this website or from FX daily ltd. should be viewed as educational only. Although the author, FX daily ltd. and its contributors believe the information and contents to be accurate, we neither guarantee their accuracy nor assume any liability for errors. The concepts and methods introduced should be used to stimulate intelligent trading decisions. Any mention of profits should be considered hypothetical and may not reflect slippage, liquidity and fees in live trading. Unless otherwise stated, all illustrations are made with the benefit of hindsight. There is risk of loss as well as profit in trading. It should not be presumed that the methods presented on this website or from material obtained from this website in any manner will be profitable or that they will not result in losses. Past performance is not a guarantee of future results. It is the responsibility of each trader to determine their own financial suitability. FX daily ltd. cannot be held responsible for any direct or indirect loss incurred by applying any of the information obtained here. Futures, forex, equities and options trading contains substantial risk, is not for every trader, and only risk capital should be used. Any form of trading, including forex, options, hedging and spreads, contains risk. Past performance is not indicative of future FX daily ltd. are not Registered Financial Investment Advisors, securities brokers-dealers or brokers of the U.S. Securities and Exchange Commission or with any state securities regulatory authority OR UK FCA. We recommend consulting with a registered investment advisor, broker-dealer, and/or financial advisor. If you choose to invest, with or without seeking advice, then any consequences resulting from your investments are your sole responsibility FX daily ltd. does not assume responsibility for any profits or losses in any stocks, options, futures or trading strategy mentioned on the website, newsletter, online trading room or trading classes. All information should be taken as educational purposes only.
Recommended Content
Editors’ Picks
World Liberty Financial confirms launch of USD1 stablecoin
President Donald Trump-inspired World Liberty Financial (WLFI) confirmed on Tuesday that it will launch its USD1 stablecoin, which it claims will be backed 1:1 with the US Dollar. This comes after the DeFi platform initiated several test transactions using the stablecoin on the Binance BNB Chain.
Crypto Today: BTC stalls below $90k, Binance ecosystem surges as Trump’s WLFI launches USD1
Cryptocurrency markets are down 1.75% on Tuesday, with a $60 billion outflow bringing aggregate valuation below $3 trillion. Bitcoin price failed to break out above as Trump’s hints at secondary tariffs triggered skittish sentiment across global markets.
Crypto Morning: SEC, FINRA eye crypto, Tornado Cash users demand justice, RWA hits $10 billion TVL
Crypto continues to remain under the oversight of US financial regulators, the Securities & Exchange Commission (SEC) and the Financial Industry Regulatory Authority (FINRA), according to a Law360 report on Monday.
Bitcoin stabilizes around $87,000 as it displays a classic beta response to traditional markets
Bitcoin stabilizes around $87,000 on Tuesday after extending a recovery over the past two days. A Crypto Finance report highlights that the crypto market followed the broader risk momentum, displaying a classic beta response to traditional markets.
Bitcoin: BTC stabilizes around $84,000 despite US SEC regularity clarity and Fed rate stability
Bitcoin price stabilizes around $84,000 at the time of writing on Friday after recovering nearly 2% so far this week. The recent announcement by the US SEC that Proof-of-Work mining rewards are not securities could boost BTC investors' confidence.
The Best brokers to trade EUR/USD
SPONSORED Discover the top brokers for trading EUR/USD in 2025. Our list features brokers with competitive spreads, fast execution, and powerful platforms. Whether you're a beginner or an expert, find the right partner to navigate the dynamic Forex market.