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Alternate cryptocurrencies => Altcoin Discussion => Topic started by: DevelopmentBank on December 04, 2017, 08:39:02 AM



Title: Does ethereum need more miners?
Post by: DevelopmentBank on December 04, 2017, 08:39:02 AM
Lately it seems that the number of pending transactions on the Ethereum network has been steadily increasing.
Just take a look at this graph: https://etherscan.io/chart/pendingtx

The reason for this is that more and more ethereum dapps applications are being built (like cryptokitties). Im just wondering will ethereum be able to handle this massive growth its about to get?


Title: Re: Does ethereum need more miners?
Post by: zenhu on December 04, 2017, 08:45:06 AM
likely, but sooner or later ethereum will go PoS anyway. And i dont think think the pending take that much time though


Title: Re: Does ethereum need more miners?
Post by: Teraboy on December 04, 2017, 08:49:19 AM
Lately it seems that the number of pending transactions on the Ethereum network has been steadily increasing.
Just take a look at this graph: https://etherscan.io/chart/pendingtx

The reason for this is that more and more ethereum dapps applications are being built (like cryptokitties). Im just wondering will ethereum be able to handle this massive growth its about to get?
The vitalik said about to give the best experience about the scalability in the ethereum network and it may build in the shardfing blockchain. The more people will try to use Dapps and it may encourage the new users to join in the ethereum and use the ethereum itself as the main chain. the sharding blockchain can be processed millions transaction in second.


Title: Re: Does ethereum need more miners?
Post by: DevelopmentBank on December 04, 2017, 02:09:11 PM
likely, but sooner or later ethereum will go PoS anyway. And i dont think think the pending take that much time though

How will POS-ing be good for ethereum? With all the mining and GPU power we have right now we are already having problems with having a clogged network. What more when we switch to POS and have no more GPUs and just plain old CPUs processing the transactions..?


The vitalik said about to give the best experience about the scalability in the ethereum network and it may build in the shardfing blockchain. The more people will try to use Dapps and it may encourage the new users to join in the ethereum and use the ethereum itself as the main chain. the sharding blockchain can be processed millions transaction in second.

Can you explain like i'm 5 how sharding works? I've tried google searching but it seems too technical for me.


Title: Re: Does ethereum need more miners?
Post by: mmo_online_1981 on December 04, 2017, 02:13:27 PM
When increasing the number of miners, the difficulty increases, but at the same time will make the time to confirm successful transactions at the right time.


Title: Re: Does ethereum need more miners?
Post by: indrakusumaindra on December 04, 2017, 02:17:12 PM
yes ETH need more miners. more miners mean more faster the transaction could be done. More miners indeed needed cause the difficulity to solve the algorithm is increasing time after time. The more miner will make ETH become better in the process and might attract more people to trade by using ethereum.


Title: Re: Does ethereum need more miners?
Post by: DevelopmentBank on December 04, 2017, 10:44:08 PM
I know see the problem brought about by signature spam..

I'm still trying to understand what will happen if there are more miners and the difficulty increases. I'm asking because if the difficulty increases, less transactions will be processed, so the hash power of new miners will be balanced out by the difficulty. The transaction processing rate will still be the same?


Title: Re: Does ethereum need more miners?
Post by: popolite11 on December 05, 2017, 01:56:20 PM
Lately it seems that the number of pending transactions on the Ethereum network has been steadily increasing.
Just take a look at this graph: https://etherscan.io/chart/pendingtx

The reason for this is that more and more ethereum dapps applications are being built (like cryptokitties). Im just wondering will ethereum be able to handle this massive growth its about to get?

A couple of weeks ago or even a bit earlier I was listening to the speech of Vitalik Buterin. He said that it becomes almost senseless to mine for Ethereum.


Title: Re: Does ethereum need more miners?
Post by: smusanne on December 05, 2017, 02:00:38 PM
The transactions are definitely getting slower over time but as of yet I don't think it's a major concern, there are some proposals in place to change things up and maybe they'll make a difference, POS change or sharding but as of right now it is safe to say more miners would be better to speed things up a little.


Title: Re: Does ethereum need more miners?
Post by: cryptonoob312 on December 05, 2017, 02:05:49 PM
It's because of cryptocats. It's a cool thing :)