Ethereum miners posted record earnings in June

The miners of the Ethereum network, obtained record commission income during the month of June. This time around, it was a historic high of 17% of their total income.

If you compare this June income with that of May, you will see that the difference is 7% (in May, it was 10%). This data is taken according to a moving average of each 30 days.

It should be noted that Ethereum miners generally earn their income in two ways. The first is through the blocks they mine, and the other is through transaction fees.

Factors that could lead to this increase

According to information from The Block Crypto portal, the increase in the amount of fees could be due to several factors. Among them are the ponzi schemes, which have recently become the big players in this network.

Compared to Bitcoin, the increase in transaction fees received by Ethereum miners is extremely high. In that sense, the main crypt-currency, during the month of June, had a fall of 10%, which was preceded by another one of 4% in May.

Recently, the Ethereum miners increased the gas limit to improve the capacity of the network. The measure, although effective, was criticized by some developers, who claim that it threatens the stability of the Blockchain of this crypto-currency in the long term.

Ethereum miners received an increased reward for transaction fees.

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Ethereum miners waiting for a big change
The Blockchain network of Ethereum, in the specific case of mining, has been the source of numerous news items during the last few weeks. This is the ETH 2.0 update, which is scheduled to be released at the end of this year.

In this new mode of ETH generation, the platform will no longer work with the Proof-of-Work (PoW) protocol. Instead, developers are looking to implement the Proof-of-Stake (PoS).

It must be remembered that there are substantial differences between one form of ETH generation and another. With PoW, Ethereum miners perform the process in the traditional way, just as Bitcoin Compass miners do, where different miners compete to get and process blocks. This implies an enormous expenditure of energy and requires large investments in order to access the crypto-currencies.

With the PoS protocol, the network randomly selects the users who will process the block of transactions. In this way, one of the great problems of Ethereum mining, energy consumption, would be solved.

This change to Ethereum 2.0 means the end of mining as it is known so far in that network. Despite this, the project developers assure that both protocols will work simultaneously for an undetermined period of time.