Market turbulence, Ethereum miners pay rise

Beehive Finance 2021-06-18 18:48:05 阅读数:48

market turbulence ethereum miners pay

Turbulent 5 The month is over , The currency (BTC) And etheric fang (ETH) None of them recovered the decline from the high point . While bitcoin's Chinese miners are still anxiously waiting for the regulatory clearance policy , The Ethereum miner mining with graphics card has ushered in 「 Salary increase 」.

TheBlock Data disclosure , The total income of the Ethereum miners group is 5 It's a new record this month , reach 23.5 Billion dollars , among , Chain trading has contributed to the miners 10.3 A billion dollars in commission income , Accounting for total income 43.8%.

From historical statistics , Miner's chain transaction fee income from last year 8 There's been a significant increase in the number of months , In this year 2 At one point, the month exceeded the block reward income . The increase in transaction costs is related to the Ethereum chain DeFi There is a strong correlation between the trend of ecological scale expansion .

Even though ETH The price in 5 In June, there was a cut in the market , But the miners ETH On the contrary, income is increasing . especially 5 month 19 On the day of the crash ,ETH Daily decline 26%, And the whole network of miners ETH The mining reward and handling fee amount to 74502ETH, The highest in a month . On the day , Asset markets are highly volatile , On the chain DeFi The risk aversion of users is frequent , Contributed a lot of network expenses .

Last year , Ethereum's network service fee income to miners is gradually approaching to mining reward income , For two months , Reward for handling charge over mining . Let the handling charge become ETH One of the ways to capture the value of , It's the meaning of the transformation direction of Ethereum .

5·19 Big day   Ethereum miners make a lot of money

6 month 1 Japan , Coin an shows ,ETH closed 2551 dollar , distance 5 month 12 Japanese 4372 The dollar fell from its all-time high 41%, Not in 5 At the end of the month 3000 The dollar lost ground .

Despite price fluctuations , But Ethereum miners, who maintain the safe operation of the chain, have not been damaged by the market turmoil , contrary , The income of miners is 5 A record high in June , reach 23.5 Billion dollars , It's up from last month's record 42%.

The Block data display ,23.5 Of the total income of the billion dollar group of miners , The block reward income reaches 13.2 Billion dollars , The income of transaction expenses on the chain is 10.3 Billion dollars , Both parts of the income hit record highs , The latter's income has accounted for 43.83%.


last year 6 After month , Miners' incomes are growing faster

The same indicator as the miner's income is Ethereum's online transaction volume and number of active addresses , data display ,5 month ,ETH The trading volume on the chain reaches 4500 More than ten thousand times , It's up from last month 7%, Last year 5 The month has increased 69%; The number of active network addresses is 2000 More than a , More than last month 14.6%, It's more than double that of the same period last year .

The etheric fang 5 Monthly multi index innovation record , With both ETH It's related to the price of our products reaching an all-time high that month , It's also related to the sudden crash that followed , In particular, the chain transaction fee part of miners' income , stay 5 month 12 Japan ETH The day of high price and 5 month 19 The day of the crash , Transaction fees are on the high point of miners' daily income .


5 month ETH The trend of daily handling charges

TokenView Data show that ,5 month 12 Japan , The average handling charge of a single transaction on the chain is 69.38 dollar , The total handling charge of that day exceeds 1.12 Billion dollars , The whole network contributed 26900 Multiple ETH Transaction costs on the chain ; And in the 5 month 19 Day crash day , What is the average handling charge of a single transaction 71.77 dollar , On the chain 3 Thousands of multiple ETH value 1 More than a billion dollars went into the miners' pockets .

By contrast ,ETH stay 5 At the high price of the month , Mining rewards earn more in dollars than 19 The crash price of Japan , But if so ETH Settle mining Awards , The bonus for a crash is 43685ETH, Higher than when the price of the currency peaked 39829ETH.

Whether it's ETH High price or low price , The income of miners in the chain transaction fee will be guaranteed , This is no doubt related to Ethereum network DeFi Ecological development is related to , The higher the demand of application and user for network resources , There will be congestion on the Internet , The more significant the chain transaction fee is .

5 month 19 Japan's extreme market is an extreme manifestation , On the day ,ETH Multiple loan agreements on the chain are facing liquidation , The move of centralized repayment of loans by users will increase network usage , And when liquidation happens , Applications also call network resources frequently .OKLink Statistics of the day , Of the day 24 The clearing volume per hour is 4246 Thousands of dollars , It's a surge from the day before yesterday 1345%. meanwhile ,ETH The number of transactions on the chain has increased dramatically , Network congestion , On that day, the transaction to be confirmed by the miner was nearly 2 Ten thousand , In speed mode Gas For a time, the fee exceeded 2000 GWEI.

The transaction cost on the chain is 5 month 19 It's not surprising that the day reaches its monthly maximum . No wonder there is an investor evaluation , Apart from regulatory factors , Ethereum mining is a high certainty and high return investment ,「 When prices go up , Miners earn more ; The price is falling , Especially when it plummets ,DeFi Liquidation can continue to contribute revenue .」

The increase of transaction fee income exceeds the mining reward

from TheBlock It's not hard to find out , From last year 6 Month begins , Ethereum's miners' income has increased significantly , Among them, the income of transaction fee on the chain is relatively low 2 There was a significant increase a year ago .

An increase in transaction fee income , In the past, only 2017 year 12 The month and 2018 year 1 month , The coin circle is well known , It was ICO The act of issuing money is ETH The period when the scale of the chain appeared .

Until last year 6 month , Ethereum has a new use case , By loan agreement Compound The mobile mining that has been popularized , Detonated DeFi market , Decentralized exchange DEX、 Lending applications are growing explosively , insurance 、 Algorithms, stable currencies and other protocols have become the hot scenarios in the future , Pursuit Farm High income users are flocking in with capital , The utilization rate of network is getting higher and higher , ace DEX Uniswap Airdrop governance token UNI when , Blocking the Internet all the time , The average transaction fee has been pushed extremely high to 10ETH.

ETH The total transaction cost on the chain is also rising with the prosperity of these applications ,  last year 6 Month so far , It just makes DeFi The market went through 12 An annual cycle of six months . Beehive found that , The income structure of Ethereum miners has changed significantly in this year , Transaction fee income is approaching the block reward income of mining , Even last year 9 Month and this year 2 Month exceeds block reward income .


ETH The miners 12 Three months of income structure change

2020 year 6 month , The miner's 1.1 Of the total revenue of 100 million dollars , The reward for mining is 0.9 Billion dollars , The income of transaction fee on the chain is 0.2 Billion dollars , Of the total income 18.19%. In this year 5 month , The miners 23.5 Of $100 million in revenue , Mining incentives account for 56.17%, Transaction fee income has reached 43.83%.

Within one year , As a whole, the proportion of mining reward income of miners shows a gradual downward trend , And the proportion of transaction fee income increased , And the increase is even higher . lately 6 Months time , The total revenue of mining reward increased compared with the first half of the year 403%; The top of transaction fee income is 6 The monthly total is 4.5 Billion dollars , Next 6 After a month , This part of the total revenue has increased to 35.6 Billion dollars , Half year growth in 691%.

Such an increase , This shows the importance of ecological activity on the chain to the income of miners . But the high handling charges on the chain have fattened the Ethereum miners , It's not a healthy situation for Internet users , The cost of congestion and high cost comes from 「 On the sheep 」, This sheep includes DeFi Users of , It also includes chain applications .

The cost structure is exactly what Ethereum is doing 7 In September, the London upgrade was carried out EIP-1559 One of the reasons for the proposal .

The proposal directly designs a pricing mechanism for network transaction fees , Divide the fee structure into base fee and tip . among , Miners don't get a basic fee , This part of the cost will be destroyed ; The tip from the user's pricing belongs to the miner .

Such a design will undoubtedly reduce the income of miners' network fees . But at the same time ,EIP-1559 Regulations , When the capacity of each block exceeds the target Gas When you use the amount of , The basic cost will increase in the next block ; conversely , Then decrease . In this way Gas The fee is adjusted according to the demand of the network . For users , According to the network situation, choose the reward service charge , No doubt it's higher and higher than it is now 、 Unpredictable transaction costs are more flexible .

EIP-1559 Adjusted the cost structure of the network , Destructive deflation is good for ETH Value capture of , But you can see that , The total capacity and block out time of the network will not change , It means network congestion 、 The problem of inefficiency cannot be cured .

from PoW to turn to PoS The Ethereum of 2.0, Or the ultimate solution , But it's going to take a long time to get there . Fortunately , A series of Layer2 Transition programs are on the rise . For the Ethereum miners , The commission income will last longer than the video card mining reward , After all ,PoW The Ethereum chain of mechanism even if it doesn't stop at the end of this year , It will inevitably disappear in the future .

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