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What is Mined by Ethereum Mining (Will Ethereum Mining Become More Difficult?)

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What is mined by Ethereum mining? What is mined by Ethereum mining? It is Ether

What is Mined by Ethereum Mining (Will Ethereum Mining Become More Difficult?)

What is mined by Ethereum mining? What is mined by Ethereum mining? It is Ethereum that is mined, just like Bitcoin. Bitcoin discovered its first block on January 2, 2009. At that time, there were a large number of miners involved. Since there were no changes in the contents (such as hash values) in this block, a digital currency called “Eth” – ETH coin was created.

However, according to statistics released by the Ethereum official, a total of about 100,000 Ethereum has been mined. Currently, based on the current price, these 1 million ETH are worth about 10 million RMB. According to previous data, there were also about 4 million RMB transaction records on the blockchain by June this year, which is a very large number. Therefore, it can be inferred that the results mined by Ethereum are: these funds are transferred or used through the Bitcoin network. The mining principle of Ethereum is that Ether is a form of encrypted asset used for paying bills. Its purpose is to enable people to invest more conveniently and quickly.

Will Ethereum Mining Become More Difficult?

According to bitcoinist reports, the current difficulty of Ethereum mining is more than twice that of Bitcoin. In the bull market in 2017, the price of Ethereum rose from $50 per ten minutes to a peak of $1 million. However, due to recent plummeting prices of Ethereum and high electricity costs, Ethereum mining has become very difficult. Is Ethereum mining becoming more difficult since 2018? The answer is definitely not. The development speed of the Ethereum mining industry is much faster than it is now. Although the ETH mining boom started earlier this year, with the decline in ETH market, mining efficiency has decreased, leading to heavy losses for users and investors. Many project teams have even closed their own services, which means that Ethereum mining will become increasingly difficult.

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