Categories: Ethereum

Mining Rewards On The Ethereum Blockchain Reach Their Lowest Lows Since Inception

Click here to view original web page at

Ethereum, like every other cryptocurrency, has suffered a great deal during the extended cryptocurrency winter. The price of the ETH token wasn’t the only thing affected as some developers on the Ethereum blockchain moved away from Ethereum to other new generation blockchains like EOS and Tron. Everything that has happened so far has been discouraging to the Ethereum community.

Ethereum Mining Rewards Reach Lowest Low

On another end of the continuum, the Ethereum developer mining community members are facing challenges as well. The report from Etherscan that was published on the 11th of February shows that Ether that is being generated during the mining process is at its lowest rate ever. The report stated that on the 10th of February, only 13,370 new tokens were mined. This shows that there is a sharp drop in the number of tokens that have been mined between December 2018 and February 2019. It is also significantly lower than its all-time high of 39 thousand which was reported in 2015.

Ethereum (ETH) Price Today – BTC / USD

While the decrease is discouraging to miners, it is not unexpected or unexplainable. Etherscan revealed that the Ethereum mining difficulty was increased and this led to a reduction in mining rewards which translates to a drop in the number of new Ether created. The decision to increase the difficulty bomb was made by the core developers of the Ethereum blockchain on the 31st of August 2018. They all agreed to include a code change in the Constantinople fork.

Dubbed the Ethereum ice age, the difficulty bomb is a mechanism that makes mining Ether using the popular proof-of-work consensus algorithm more difficult each time it is activated. The core developers dropped the difficulty bomb to discourage miners from mining using the PoW as they slowly transition into using the long-awaited proof-of-stake. The plan to move from PoW to PoS has been on for some time now. However, the core developers, on multiple occasions, delayed the implementation of the Constantinople upgrade which is meant to be part of the migration from PoW to PoS.

The Constantinople was rescheduled twice last year and once this year. By delaying the difficulty bomb, the mining difficulty reduces. This is why Constantinople has a feature known as thirdening. The thirdening feature will reduce the block rewards to 2 from 3 ETH. When this happens, the quantity of new Ether that will be created on a daily basis will increase again because creating blocks will become easier. The new date for the Constantinople upgrade is Feb 27 when the blockchain gets to block 7,080,000. As reported by, the last upgrade was delayed because a data security team discovered a vulnerability on the blockchain that would have allowed hackers to steal Ether during the upgrade.

A while ago, media outlets reported that the Ethereum Foundation was making plans to spend $15 million to develop Verifiable Delay Functions that would be used during the transition. However, last week, Ethereum’s the Foundation denied these allegations stating that it had no intentions to do that.

Do you think the Constantinople upgrade will be delayed again or it will finally happen on the 27th of February? Share your thoughts in the comment section.


Illuminati, Mason, Anonymous I'll never tell. I can tell you this, global power is shifting and those who have the new intelligence are working to acquire this new force. You matter naught except to yourself, therefore prepare for the least expected and make your place in the new world order.

Disqus Comments Loading...
Published by

Recent Posts

Bitcoin Is Up Against An Extremely Important And Powerful Resistance Zone On The Monthly Chart: The Kijun-Sen (Base Line)

We can identify the price action causes of why price is finding it difficult to move higher by analyzing longer… Read More

39 mins ago

BTC ATM goes missing and no one notices

When you think of thieves stealing an ATM, the mind jumps to the idea of an exciting crime. Maybe there’s… Read More

39 mins ago

Major Swedish Bank Orders Negative Interest Rate on Euro Deposits

Sub-zero interest rates have become the norm in some countries, especially in Europe. Nordic nations such as Sweden and Denmark… Read More

39 mins ago

Researchers Concur Current Bitcoin Market Cycle is Only Just Beginning

Bitcoin price cycles can be influenced by a number of factors, FOMO and public sentiment is one, and mining profitability… Read More

39 mins ago

Hopes for Bitcoin as China’s Renminbi Drops to 11-Year Low

A recent plunge in the bitcoin price is looking to negate some of its losses as China’s currency weakens to… Read More

39 mins ago

Why Bitcoin Rules in the ‘Insane’ World of Negative Interest Rates

Central banks around the world are on a negative rate binge to further a compelling case for bitcoin.. | Source:… Read More

40 mins ago

This website uses cookies. We use these cookies to collect data about your interaction with our website for the purpose of continuously improving your experience with our site. For more information we encourage you to read our privacy policy.

Read More