Ethereum hit 10,000,000 blocks

[AkaCrafterCZ 1140]

Good news! I just noticed Ethereum just successfully reached 10 million verified blocks in total. The no. 2 cryptocurrency hit a big milestone today.

[ETheHedgehog 3104]

that's a great milestone, what is the total amount of Ethereum blocks available for mining? i know bitcoin is 21 million but how much is ETH?

[rekter 8129]

2 hours ago, ETheHedgehog said:

that's a great milestone, what is the total amount of Ethereum blocks available for mining? i know bitcoin is 21 million but how much is ETH?

I think you are confusing blocks with coins as one block holds several coins at the moment. Eth however doesn't have a cap, so it has basically infinite max supply.

[AkaCrafterCZ 1140]

1 hour ago, rekter said:

I think you are confusing blocks with coins as one block holds several coins at the moment. Eth however doesn't have a cap, so it has basically infinite max supply.

Thanks for the quick answer - you were faster than me.

 

4 hours ago, ETheHedgehog said:

that's a great milestone, what is the total amount of Ethereum blocks available for mining? i know bitcoin is 21 million but how much is ETH?

You messed up the two words. ETH has a much better feature of very fast block times - a new Ethereum block is created every 10-15 seconds. Every new block contains a block reward, which are the new coins that are given to the miner who mined the block. 

 

New blocks will be created even after the maximum supply is reached. That means, whenever bitcoin reaches the 21 million created bitcoins, no more will be given out, but new blocks will still be available and working.

Ethereum doesn't have a maximum supply, which means every block will contain new Ethereum and mining for new coins will last forever.

[AkaCrafterCZ 1140]

11 hours ago, ETheHedgehog said:

 

Ah yes my bad, i meant to say a total supply of coins but said blocks, thanks anyway, but isn't an infinite supply a bad thing?

It could result in a too big supply for the future and a small price, an example of this is dogecoin, which also has an infinite supply and a small price. Ethereum is an exception though, its infinite supply didn't really affect the price.

[AkaCrafterCZ 1140]

20 hours ago, magd said:

The most percentage of cryptocurrencies I own is Ethereum, so I am very interested in monitoring the market value and its chain of mining blocks daily to see what will happen after the half for this currency, especially since its price is rising very slowly. Can someone explain to us what is the reason for the slow rise?

The price will rise if the demand gets higher than the supply. So that's the only answer I could provide. Maybe the price doesn't rise more as there aren't any halving events. But the demand will rise highly once Ethereum transfers to the PoS algorithm.

[bitcoinb 1359]

On 5/6/2020 at 9:41 PM, AkaCrafterCZ said:

But the demand will rise highly once Ethereum transfers to the PoS algorithm.

This is true. We can also mention the fact that the emission of ETH coins will be greatly reduced. 

Vitaik said:

 

"One of the reasons we are moving to the Proof of Stake is because we want to dramatically reduce the show. […] With ETH 2.0, we have calculated that the maximum emission [of ETH coins] would be around 2 million per year, if literally everyone participates. "

[BTC Future 3946]

On 5/4/2020 at 10:25 PM, Lover840 said:

That's a very interesting news mate, as ethererum is being considered the best altcoin after bitcoin and finally it has reached a great milestone. This altcoin has a great potential too and which is why it ranked 2 crypto among thousands of crypto currency. 

Ethereum does not have a maximum cap and as long as the PoW system won't change (which it will with ETH 2.0) the miners will keep getting rewards with both new Ethereum and fees. With Eth 2.0 a new system of validating transactions will take place which will be a mix of PoW and PoS, as far as I've heard so far.

[Upright 2688]

On 5/4/2020 at 5:05 PM, ETheHedgehog said:

that's a great milestone, what is the total amount of Ethereum blocks available for mining? i know bitcoin is 21 million but how much is ETH?

As I know, the Ethereum doesn't have a fixed supply of the coins as, the coin tend to on an infinite or no upper limit as to how the Ethereum supply actually spans up. As the Ethereum now has 100 million ether which are now in circulation in the market

[ETheHedgehog 3104]

16 hours ago, Upright said:

As I know, the Ethereum doesn't have a fixed supply of the coins as, the coin tend to on an infinite or no upper limit as to how the Ethereum supply actually spans up. As the Ethereum now has 100 million ether which are now in circulation in the market

yes i realized that ethereum supply is infinite, which now raises the question of whether it would become over-saturated and lose it's value

[bitcoinb 1359]

@ETheHedgehog   With Ethereum 2.0 they want to reduce the annual emission of ETH + they want to move on PoS consensus algorithm.

[Whited35 15285]

These successfully verified blocks are actual milestone for Ethereum. I believe core development team of Ethereum network is working very hard to enable the feature for reducing the emissions of ETH according to certain time frame. I think controlled emission is needed prevent ETH from further price inflation in the cryptocurrency markets. 

[AkaCrafterCZ 1140]

On 5/26/2020 at 7:42 AM, Whited35 said:

These successfully verified blocks are actual milestone for Ethereum. I believe core development team of Ethereum network is working very hard to enable the feature for reducing the emissions of ETH according to certain time frame. I think controlled emission is needed prevent ETH from further price inflation in the cryptocurrency markets. 

Yes, I'm really looking forward to ETH V2. I believe the price will also rise as the new supply will be lowered. So far Ethereum is the best coin for developers and decentralized applications.

[nykas 2812]

I think that there is good news for all Ethereum community. That`s great that ethereum blockchain continue to developing and improving. We are waiting for chain updates to reach new heights 

[bitcoin-shark 1928]

Maybe there was a small mistake in the graph ,In the photo we talk about the transactions however that are very fast compared to other altcoins there is no maximum limit of ethereum production as in the case of Bitcoin, ethereum is my favorite altcoin because it has many collectible token on his blockchain

[AkaCrafterCZ 1140]

1 hour ago, bitcoin-shark said:

Maybe there was a small mistake in the graph ,In the photo we talk about the transactions however that are very fast

The data I provided are correct. It was possible to reach 10 million blocks as the block time is only 15 seconds. It was a number of blocks, not transactions.

 

If you want, I can provide you with updated info at this time:

There's currently 10,160,429 blocks and 718,982,576 transactions.

[gourav789 2834]

this is really great news I heard about Bitcoin blocks that's Etherium touch 10 million blocks successfully .   think there is 21 million blocks of Etherium for mining purpose . there is stills better chance that it's price touch a good value in future .

[AkaCrafterCZ 1140]

4 hours ago, gourav789 said:

this is really great news I heard about Bitcoin blocks that's Etherium touch 10 million blocks successfully .   think there is 21 million blocks of Etherium for mining purpose . there is stills better chance that it's price touch a good value in future .

You messed it up, I'll correct you so that you remember it correctly.

Ethereum has an infinite supply, which means there's an unlimited number of blocks to be created containing a block reward - new Ethereum coins will be created forever.

For Bitcoin, there's a cap of 21,000,000 coins that can be ever created from block rewards.

I hope this is what you needed to know.

[Soaib khan 1035]

this is very good news for ethereum lover ethereum is always my favorite cryptocurrency after bitcoin I really like it because ethereum developer bringing new technologies which can push cryptocurrency market in future 

[iloveyobit 6599]

An increase in the number of blocks means a decrease in the number of available quantities for mining and offset by an increase in the demand for currency in the market. This means that the price will increase significantly in the future. Am I wrong?

[AkaCrafterCZ 1140]

17 hours ago, iloveyobit said:

An increase in the number of blocks means a decrease in the number of available quantities for mining and offset by an increase in the demand for currency in the market. This means that the price will increase significantly in the future. Am I wrong?

More blocks means more rewards, resulting in a higher supply and a slowly decreasing price, but since Ethereum is popular there's a high demand and the price still grows. However halving events make the coin rarer and result in a price increase.

Edited June 3, 2020 by AkaCrafterCZ

[Beppe1793 9]

Eth crash to 200$

[EvilMario 4]

Сколько будет стоить биткоин к концу года?

[rub4ix 26]

It is a great new! I guess one day Etherium will be more demanded than Bitcoin. And i think it will be the end of 2020-s.

[viktor58123 43]

good figure hope for growth