Airdrop Takes 60% of Ethereum’s Network

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Summary

More Gold Coin, which doesn’t even have a website that we can find, is currently consuming close to 59% of all ethereum’s gas (capacity unit). A token no one has heard of is eating 60% of ethereum’s capacity through an airdrop to countless of accounts. So considering this airdrop is taking up 60% of the network, what the fees really are is not very clear. You would think this would send transactions skyrocketing, but gas or capacity and transactions are not quite the same. In some ways, however, or in some cases, data and the amount of gas used have almost nothing to do with each other.

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A token no one has heard of is eating 60% of ethereum’s capacity through an airdrop to countless of accounts.

More Gold Coin, which doesn’t even have a website that we can find, is currently consuming close to 59% of all ethereum’s gas (capacity unit).

You would think this would send transactions skyrocketing, but gas or capacity and transactions are not quite the same.

Gas is somewhat similar to bytes in bitcoin, that is how “big” a transaction is. So you can have one transaction that consumes as much capacity as 100 transactions.

Ethereum transactions therefore have actually fallen in number because this token is performing more computationally intensive calculations which are taking more gas than plain transactions where you send an eth from A to B.

Current ethereum transaction levels, June 2019

As can be seen, transactions have dropped close to 750,000...

Read the full article @ TrustNodes