ETH Weekly | ​Ethereum transaction fees exceed Bitcoin; Ethereum development activities in the past year are 4.5 times that of EOS (9.16-9.22)

Author | Qin Xiaofeng

Author | Qin Xiaofeng

Produced | Odaily

1. Overall overview

1. Overall overview

Afri Schoedon, a former core developer of Ethereum and now the chief developer of the Ethereum testnet, once again announced the specific upgrade time of the Ethereum Istanbul upgrade testnet on Twitter: the Ethereum testnet Gorli will be upgraded at block 1561651, and the estimated upgrade time is 10 October 30th; Ethereum test network Ropsten will be upgraded at block 6485846, and the estimated upgrade time is October 2nd.

Second, the secondary market

Second, the secondary market

1. Spot market

OKEx market data shows that this week, the price of ETH once rose to 224 US dollars, and closed at 210.51 USDT during the week, an increase of 11.5% month-on-month.

image description

(ETH moving average chart, picture from OKEx)

image description                                                                

(data from AIcoin)

(data from AIcoin)

In terms of funds, the funds fluctuated greatly this week. The net outflow of funds was the largest on Friday, exceeding 29 million US dollars; the net inflow of funds on Tuesday was relatively high, nearly 30 million US dollars.

(data from Tokenview)                                                                   

(data from Tokenview)

Tokenview dataimage description

(more than 50,000 ETH transfers)

This week, there were a total of 5 "over 50,000 ETH" transfers, with the largest transfer amount exceeding 400,000 ETH, and all transfers were between Binance wallets.

3. Ecology and technology

3. Ecology and technology

1. Development and technology

(1) Core members of Ethereum: After the ProgPoW algorithm is launched, DAPP developers will not go to other chains to develop

At this week's Ethereum core developer conference call, the ProgPoW anti-ASIC mining machine algorithm once again sparked discussions in the Ethereum community. Hudson Jameson, a core member of Ethereum, responded on Twitter that developers and users will choose affordable chains and experienced development teams. He believes that DAPP developers will not go to other chains for development. At the same time, he also believes that the risk of community fragmentation is very small. According to the plan, after the ProgPoW algorithm goes online, it will have a major impact on the miner ecology, and may have an impact on future Ethereum decisions. (block rhythm)

(2) There are 8,933 active main network nodes in the world of Ethereum, and the total number of single addresses reaches 75 million

ConsenSys officially published some statistics on Ethereum (as of September 2019): 8,933 active mainnet nodes around the world; 75 million single addresses; 95% average gas usage; 106 TH/s average computing power; The number of DApps on the market is 2,597; the number of DApp daily active users is 16,900; the total number of DAI holders is 145,707; the ETH locked in the MakerDAO smart contract accounts for 1.41%; the active stablecoins built on Ethereum account for 50%.

(3) The Ethereum testnet Ropsten and Gorli will be upgraded on October 2 and October 30 respectively

Afri Schoedon, a former core developer of Ethereum and now the chief developer of the Ethereum testnet, once again announced the specific upgrade time of the Ethereum Istanbul upgrade testnet on Twitter: the Ethereum testnet Gorli will be upgraded at block 1561651, and the estimated upgrade time is 10 October 30th; Ethereum test network Ropsten will be upgraded at block 6485846, and the estimated upgrade time is October 2nd.

(4) V God: The Ethereum 2.0 specification has been written, and it will take a few months to launch

At the 5th Blockchain Global Summit, the founder of Ethereum V God said: "Ethereum 2.0 can be launched in just a few months. In order to support the development of Ethereum 2.0, 7 teams gathered in Toronto to promote , the current specification of Ethereum 2.0 has been written, and everyone has started to do third-party analysis and received some feedback. At present, we not only regard PoS as a conceptual or theoretical research, but we will now think about possible encounters What are the real-world challenges, including economic challenges and scalability."Joseph LubinThe first phase of Ethereum 2.0 (or "Phase 0") is expected to be launched in the first quarter of 2020. (AMBCrypto)

2.DEX

according toDAppTotal.com DEXimage description

(picture fromDAppTotal.com DEX）

according to

3.Dapp

according toDappreview dataDappreview data

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(data from etherchain.org)

etherchain.org(Mining difficulty changes)

(Mining difficulty changes)

4. News

4. News

1. The data shows that the total daily transaction fee of the Ethereum network exceeds that of Bitcoin

On September 19, Ethereum’s daily transaction fees surpassed that of Bitcoin. According to Messari data, the transaction fee on the Ethereum network was about $207,000 that day, while Bitcoin was only $183,000. The median transaction fee on the Ethereum network is about $0.16 per transaction, compared to $0.20 for Bitcoin. Full load for Ethereum and Bitcoin equates to about 1 MB every 10 minutes. (TrustNodes)

2. The development activity on the Ethereum blockchain in the past 12 months is nearly 4.5 times that of EOS

According to research from crypto information site Santiment, the total development activity building on the Ethereum blockchain over the past 12 months was nearly 4.5 times higher than on EOS. And it's been a consistent trend over the past 12 months. (The Daily Hodl)

3. Former advisor to the Ethereum Foundation: There are far more developers joining Ethereum than leaving

William Mougayar, a former advisor to the Ethereum Foundation, wrote about the "Ethereum Developer Loss Phenomenon". In terms of numbers, ethereum’s developer churn rate is clearly negligible, as the ecosystem is still growing at a very healthy rate, with a growth rate much higher than the churn rate, Mougayar said. Two years ago, there were about 100,000 developers on the Ethereum ecosystem. Compared with the current 250,000 to 350,000 developers, the growth rate is obvious. (Block Beats)

4. V God: Bitcoin and Ethereum are irreplaceable

V God, the founder of Ethereum, said in an interview: Bitcoin and Ethereum are irreplaceable decentralized cryptocurrencies that will not be affected by tokens issued by financial institutions. Tokens issued by institutions will have trust issues, but May outperform traditional cryptocurrencies in terms of scalability. The Ethereum community does not plan to compete with zero-knowledge proof projects, but instead to cooperate. In the future, I hope that someone will be attracted to the Ethereum community because of the zero-knowledge proof technology. We need to ensure that finance is not the only application, and the Ethereum community can support other applications besides finance; the current blockchain application capabilities are still poor, as time goes by, this problem will be resolved, and there will be more mainstream in the future application. DEX (decentralized exchange) is very important. Trading on a centralized platform is easily manipulated by the operator and there will be hacker attacks, so it is not the best choice. But at present, DEX cannot achieve high-speed transactions. At present, this problem has been solved in terms of technology, but the biggest problem lies in multi-chain applications. (Babbitt)

5. U.S. authorities indict two hackers for allegedly attacking decentralized exchange EtherDelta

The U.S. Attorney's Office for the Northern District of California recently accused Elliot Gunton and Anthony Tyler Nashatka of allegedly hacking EtherDelta, a decentralized exchange built on the Ethereum blockchain, in December 2017. According to the indictment, the two hackers modified EtherDelta’s Domain Name System settings in order to trick the exchange’s users into obtaining their cryptocurrency addresses, private keys, and withdrawing funds from those cryptocurrency addresses. (The Block)

6. Simplified Chinese has become the third language supported by Ethereum official website

According to official news, the Ethereum Foundation announced a large-scale official website translation plan last month. In addition to English and Korean, Simplified Chinese has become the third officially supported language. Translations into Russian, German and Italian. (ethereum.org)

7. BitPay announces support for Ethereum, and its cooperative merchants will accept ETH payments

Bitcoin payment processor BitPay announced that its partner merchants will soon be able to safely and compliantly accept ETH payments. Additionally, BitPay wallet users can store and spend ETH in the wallet. (BitPay)

8. Startup Harbor Tokenizes $100M in Real Estate Funding on the Ethereum Chain