After days of expecting a breakout, Ethereum has continued to hover around the same price point for over a week now. As things stand, the second largest cryptocurrency by total market capitalization is trading at $225.03— thus showcasing a very small change in its intrinsic value since yesterday afternoon.
Also worth mentioning is the fact that ETH’s total market cap currently stands at $22.99 Bln— a figure that is nearly $3 Bln more than that of its closest rival, XRP.
The number of mined empty blocks has been increasing on the Ethereum blockchain
In another weird turn of events for the Ether community as a whole, it has recently come to light that since September this year, the number of empty blocks being mined on the currency’s blockchain network has spiked by 637%.
In addition to this, it is also being reported that Antpool, one of the more respected bitcoin mining firms in the world, too has been producing “empty blocks” — a phenomenon that seems to be occurring on a fairly regular basis for the company. In this regard, a fair few other mining pools too are being accused of the same thing.
With that being said, these are just speculative theories at the moment, however, if there is any truth behind the aforementioned stories, we could have another budding controversy on our hands.
Experts Believe Improving ETH Network is More Feasible Than Creating New Blockchain Ecosystems
After last years ICO boom, the world witnessed the release of an unprecedented number of novel blockchain projects that looked to solve some of the pressing issues that were affecting the Ethereum (ETH) network.
However, these days, it has become almost fashionable for developers to say things like “the ETH project is simply not a viable future prospect”, or something like “the Ethereum blockchain cannot be scaled up for commercial purposes”. While there is some truth to these arguments, simply breaking away from the already established ETH ecosystem does not really solve anything.
In this regard, James Duffy, co-Founder of the Loom Network, has been advocating the use of a “second layer protocol” that is built atop of Ethereum rather than creating a new blockchain from scratch. This not only is a more economically viable route, but it also tackles the issue of scalability in a better, more systematic fashion.
In other news, a crypto MLM venture by the name of BitClub Network has just announced its decision to suspend its daily ROI payouts due to lowered returns on its GPU mining operations.
It is news like this that could further spur a loss of investor confidence in Ether (something which has already been decreasing over the last 6-9 months).
Financial chart courtesy of Tradingview.com