Ethereum Block Mining Time to Drop Significantly

Now block mining time take around 12.5, this is the lowest figure for the entire lifetime of the network
04 March 2019   375

The average time of the block mining in the Ethereum network after the recent hard fork of Constantinople, as a result of which the activation of the complexity bomb was postponed, fell to 12.5 seconds, although some time ago it was 21 seconds. This is the lowest figure for the entire lifetime of the network, Trustnodes reports

Ethereum Block Time in Secs
Ethereum Block Time in Secs
Ethereum Network Hashrate Growth Chart
Ethereum Network Hashrate Growth Chart

At the same time, the network hashrate has not changed much over the past few weeks.

As is known, with a decrease in total computing power, finding blocks usually takes more time, since miners working on the same level of complexity turn out to be less. As the hashrate grows, mathematical calculations become simpler, but this period only lasts until the next recalculation of the complexity of mining.

As for the bomb complexity, it is an algorithm that provides a slow but exponential increase in complexity after a certain block. At some point, this level reaches a point when mining becomes virtually impossible.

Taking into account this factor, the Ethereum network plans to switch over to the Proof of Stake (PoS) algorithm in the future, but this transition, apparently, will not happen quickly, and for a while the PoS and Proof of Work (PoW) circuits will work in parallel .

Due to the delay in switching to PoS, the bomb of complexity on the Ethereum network was postponed twice, and after the first such case, the average time spent by the blocks fell to 13.5 seconds, after which it rose again to about 14-15 seconds.

A faster time to mine the blocks also means that daily emission has also slightly increased: if immediately after the Constantinople upgrade it has dropped to 12,800 ETH, now this figure is about 13,600 ETH. It is expected that in the future the level of daily emissions will stabilize in the region of 13,000 ETH.

The next major reduction in daily emissions is expected with the activation of the PoS Beacon chain, which may occur at the end of this year.

Earlier it became known that after the successful upgrade of Constantinople, the leading developers of Ethereum began to search for new coordinators for future network upgrades.

Mining Ban in China Won't Affect Bitmain & Canaan

This is said by the companies themself; also, Bitmain and Canaan did not indicate whether they intend to move the business abroad
11 April 2019   201

The prospect of a ban on mining in China will not have an impact on the operating activities of mining giants Bitmain and Canaan in the short term. This was stated by representatives of the press services of companies, 8btc reports.

At the same time, Bitmain and Canaan did not indicate whether they intend to move the business abroad, if the mining ban is set at the legislative level.

Note that China currently holds a dominant position in mining Bitcoin and Ethereum.

According to local cryptoexperts, mining equipment manufacturers will exist as long as Bitcoin has value.

Earlier in April, the National Development and Reform Commission of China issued a bill that called mining an “undesirable industry” and proposed banning it.

So far, the initiative has no legal force. Public discussion of the bill will last until May 7.