Ethereum mining difficulty increased significantly

What is the reason of Ethereum's abnormal difficulty increase?
Sergey Siminskiy's picture
Sergey Siminskiy
10 July
Ethereum

Open-source blockchain-based distributed computing platform featuring smart contract functionality, which facilitates online contractual agreements

For the last 24 hours, Ethereum mining difficulty increased by 20%. ETC mining difficulty is now almost 1208234552666986.0, this is all-time record. 

ethereum difficulty chartEthereum difficulty chart

This situation can be caused by so called "Difficulty bomb impact". 

Difficulty bomb impact
Difficulty bomb impact

Blockchain

Distributed database that is used to maintain a continuously growing list of records, called blocks.

How this will affect the price of ETC in the medium and long term we cannot know. Today, 10 of July, Ethereum lost about 6% in last 24 hours. Now it's $229.

Ethereum price chart
Ethereum price chart

What is Ethereum Ice Age? 

The Ethereum Ice Age is a difficulty adjustment scheme that was put in place to ensure that everyone has an incentive to move to the new blockchain once the hard-fork is implemented. It was introduced on the 7th of September (2015-09-07), about 11 months ago and it's programmed to raise difficulty exponentially.

It's impossible for miners to keep up with the increase of difficulty which would raise block time and it would make the blockchain freeze, hence the name Ice Age.

Top recent ICO July 16th - 22th

The list of top ICO which were held between 16th and 22th of July, 2017
Diana Ugay's picture
Diana Ugay
21 July
Blockchain

Distributed database that is used to maintain a continuously growing list of records, called blocks

The idea to presale coins of a cryptocurrency or token of a blockchain project has evolved in a crazy successful instrument to raise funds for the development of a new application. Projects held a successful ICO raise millions of dollars, make partnerships and gain popularity. That's why it is vital to follow the latest ICO news and trends.

Recent ICO

ICO

Initial coin offering (ICO) is a means of crowdfunding the release of a new cryptocurrency

Here is a close up of the most interesting ICO ended this week (July 16th - July 22th, 2017). As it always happens in this industry, some of them were more vivid and successful, while the others have failed. This week, one ICO even fell prey to a devastating hacker attack. To find out more, continue reading. 

Mothership

Mothership is democratising funding for new blockchain projects, acting as a gateway to cryptocurrency markets for Estonian blockchain companies and a go-to place for launching new ones. Mothership team will help prospective startups build a legal framework for digital assets and execute successful funding campaigns. Mothership will provide a PaaS solution for hosting applications in the same datacenter with our exchange. Users will be able to build high frequency trading bots, payment gateways or any other apps using any programming language. Direct connection to the exchange will guarantee minimal latency, while automatic scaling and managed runtime will allow developers to focus on what really matters - building apps.

Mothership ICOMothership

Sale period

July 7th - July 16th, 2017

Accepted currencies: ETH, BTC

Raised: 3,751,517.24 USD (24,137.93 ETH)

Website and whitepaper

Gilgam

Gilgam.es is planning and preparing to launch a platform allowing both individual players and teams to compete in popular eSport games – DOTA2, League of Legends, Counter Strike: Global Offense, Call of Duty, etc... – supervised by their own artificial intelligence. The client application, which can be downloaded from their landing page, will run within an electron framework on JavaScript, HTML, CSS basis platform will not depend on the operating system of the user. The first anti-cheat defense line is embedded in the client application. It monitors the programs used by the user and their interference with the running game program. The interface will allow the user to create an account by funding a new Ethereum address with Ether via an established payment processor.

Gilgam.es
Gilgam.es  

Sale period

June 20th - July 18th, 2017

Accepted currencies: ETH

Raised: 1,104.7872 ETH

Website and whitepaper

openANX

Open, Transparent, Decentralized - openANX is a real world application of DEX (decentralized exchange). By utilizing technological improvements on the Ethereum block chain alongside payment channel technology, openANX merges the security of decentralized exchanges with the payment gateway functionality of existing centralized exchanges.

Sale period

June 22th - July 22th, 2017

Accepted currencies: ETH

Tokens sold: 5,009,249.58 OAX 

Raised: pending information, estimated at $22.5m

Website and whitepaper

Bitquence

Bitquence’s Mission is to make the daunting cryptocurrency market accessible to everybody, accelerating adoption of blockchain technology and democratizing ownership of cryptocurrencies.They make cryptocurrencies easier to purchase and transfer allowing the average individual to participate in the New Economy. They believe in the philosophical mission established by Satoshi Nakamoto. By creating a secure layer that is accessible to the average person, they put the power in the hands of the people – where it belongs.

Sale period

June 28th - July 16th, 2017

Accepted currencies: ETH

Raised: 14,405.667 ETH

Website and whitepaper

Encrypgen

A company that provides next generation software for genomic data empowering patients and donors, facilitating health, business, and science in a safe envirment. 

Sale period

June 29th - July 17th, 2017

Accepted currencies: BTC, ETH, Dash, LTC, ETC

Raised: 166.8 BTC, 3314 ETH, 24 DASH, 101.4 LTC, 191 ETC

Tokens sold: 49,057,843 (max: 80,000,000)

Website and whitepaper 

ScinCoin

Ethereum

Is an open-source blockchain-based distributed computing platform featuring smart contract functionality, which facilitates online contractual agreements 

Universal Cryptocurrency based on Ethereum for instant trading of CS:GO, Dota 2 skins, and making bets on eSports events.

SKINCOIN tokens will be accepted as means of exchange for gaming and betting servicesSKINCOIN tokens will be accepted as means of exchange for gaming and betting services

Sale period

June 21th - July 21th, 2017

Accepted currencies: ETH

Tokens sold: 82,631,747

Raised: pending information

Website and whitepaper

And last but not the least...

CoinDash

CoinDash is developing a platform that will allow users to manage their investment portfolio and benchmark it against other traders and the market in general. The CoinDash platform is composed of three primary components:

  • A Software-as-a-Service layer that will provide an array of tools for managing crypto assets.
  • A social network that will allow users to follow and copy-trade top investors, help experienced investors monetize their knowledge by selling access to their investment decisions to others.
  • A marketplace that will feature​ real-time social trading signals, a token sale dashboard, trending assets, real-time market price tables and 3rd party integrations. Further, it will allow for users to trade directly on the platform

However, as we all know, hardly had the Ethereum Token Sale CoinDash started (July 17th), the website has been hacked. As a result, the total lost in the theft has been brought up to around $10m. Unfortunately, the ICO had to close its doors. An internet forensic investigation to determine who was behind the hack is still in progress. 

Sale period [estimated] 

July 17th - August 1st, 2017

Accepted currencies: ETH

Raised: -

Website and whitepaper