Ethereum’s DeFi drive boosts hashrate

The cryptocurrency ecosystem has truly exploded since DeFi was introduced as an inherent part of its offer. With the GH/s soaring up, demand has also been strong since at least mid-June. DeFi platforms have been proliferating, and overall, anyone running an Ethereum project has had reasons for optimisms.

Some industry experts have cautioned to expect a bubble burst at some point, but the outlook so far has been optimistic. Of course, there are two ways to look at this. First, fees have been rising, which, for smaller consumers, isn’t ideal, but it also signals growth within the network which has been expanding at a decent pace.

On the plus side, miners’ revenue has increased a little thanks to the recent surge. Here is what Glassnode researchers explained:

“Miner revenue from fees on Ethereum has skyrocketed in the past two months, reaching an all-time high of around 18%.”

Apart from developing state-of-the-art dapps, Ethereum has been used extensively in certain operations online, such as blockchain gaming. Some of the best Ethereum casinos have seen a huge surge in active users, a combination of the successful introduction of DeFi as well as a global lockdown which has prompted many people to go online and look for entertainment opportunities.

Ethereum blockchain gaming has proven such with some excellent brands, including, FortuneJack, and 1xBit. All of these are designed to support multi-currency gaming, with one of the focuses naturally Ether.

The surge in activity may have slowed down transfers a bit, but the Ethereum blockchain ecosystem still remains one of the quickest. Other platforms, such as FunFair, have taken high gas costs in to their own hands by removing it from gaming transactions, to the benefit of players at brands like CasinoFair.

Looking for your next crypto casino? Check out: Bitcasino or FortuneJack.

Written by Tudor

Works as a developer and helps keeps the digital cogs turning. Leave them alone, they're busy.

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