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Witnessing the digital breakthrough

New Airdrop Captured Nearly 60% of Ethereum's Network

10 June 2019 17:20, UTC
New Airdrop Captured Nearly 60% of Ethereum's Network

It seems that recent airdrop of the mysterious ERC-20 token in the Ethereum network occupied up to 60% of its transactions and took up the majority of gas, the network capacity unit that’s used to calculate the cost of transactions. The current airdrop seems to be happening just to attract some attention.

According to Etherscan, ERC-20, also known as More Gold Coin (MGC), which doesn’t even have a website, is being dropped to thousands of Ethereum addresses without any reason.

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TrustNodes claims that the volume of transactions and the gas are not the same thing, and therefore, we’re not witnessing the rapid growth of transactions on the Ethereum network. The amount of used gas usually depends on the amount of “work” that needs to be performed. It means that a single transaction can consume the amount of gas required for 100 regular operations.

Ethereum transactions almost stopped over the weekend, as the ERC-20 airdrop initiated intensive calculations that captured most of the network's resources. And while the number of transactions has decreased, gas consumption has grown to a new, unprecedentedly high level.

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By now, the mysterious airdrop still continues, however, the network load has decreased significantly.

Image courtesy of: Cryptomonedas ICO



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