Ethereum (ETH) Transaction Records An Overpriced Fee Of $84.72K

By March 15, 2020 Ethereum
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  • Ethereum Transaction occurred on the 13th of this month at 8:30 am recorded an overpriced transaction fee of 660 ETH accounting at $85K approximately.
  • The block registration number is 9660661, which was verified by 8663 confirmations.
  • Many held the questions to the co-founders of Ethereum as to why the block network has caused such a miscalculation by overpricing the block value.

Ethereum Transaction, which occurred on 13th of this month at 8:30 am recorded an overpriced transaction fee of 660 ETH accounting at $85K approximately which was categorized in to block reward which gained 2 ETH and the free block reward gained is 658.22 ETH approximately according to the data submitted by Ethereum Blockchain.

This was carried out by the mining rig Nanopool, which mined or created a block of transaction in two seconds. The block registration number is 9660661, which was verified by 8663 confirmations. The entire data of Ethereum transaction, mining, and crypting is available in this link.

A twitter handle named Hudson Jameson brought this under notice, which quickly gained attention like wildfire, many speculated comments were formed around this tweet.

Some saying that this could be an internal mistake and suggested internal limiting of Gwei with up to 100x leverage, and some suggested the Ethereum network and the median fee structure was manipulated and altered from the inside while quoting a question if the fees on the line are genuine and reliable.

Looking at the median of the transaction structure might be a possibility to help in asserting the cause of the overpriced fee for the transaction. Still, in the given situation, there is no record of the average amount wasted in the overpayment.

Many held the questions to the co-founders of Ethereum as to why the block network has caused such a miscalculation by overpricing the block value. Many have predicted that this could be the fate of a bug residing in the network.

The official analysis is yet to be carried out on this, and a report from the developing team of Ethereum is under further notice. However, activity has taken aback all the viewers and ETH community members. This falls under one of the overpriced transactions in crypto history.

The block registration number is […]

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