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What determines the difficulty of Ethereum (and why does Ethereum Classic skyrocket)?

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What determines the difficulty of Ethereum? According to Coindesk, a recent rese

What determines the difficulty of Ethereum (and why does Ethereum Classic skyrocket)?

What determines the difficulty of Ethereum? According to Coindesk, a recent research report highlights three problems with the Ethereum network: high gas fees, high demand for block space by miners, and the need for more time to run nodes on the blockchain. So what determines the mining profitability of Ethereum? From a technical perspective, it’s all about “transactions” and “processing speed.” When you package a block into a new one, it includes specific data as inputs (such as state), which then gets sent to another block. As blocks are created and eventually generated, this information becomes hashrate.

Why does Ethereum Classic skyrocket?

According to Coindesk, the trading volume on the Ethereum Classic network has been continuously surging. According to data from CoinMarketCap, in the past 24 hours, the average daily prices of Bitcoin and Litecoin have risen by 17% and 13% respectively. Additionally, network fees for Ethereum Classic have seen a significant decrease but are still steadily growing. “If we separate the cryptocurrency market from the bull market of 2017, this would be an epic skyrocket.” Ethereum Classic (ETC) is a distributed ledger technology (DLT) based on blockchain technology.

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