Jun 15, 2020

Etherchain pool miners will split $ 2.4 million

Bitfly, the operator of the Etherchain mining pool, today announced how it will manage an unusually high commission for the transaction processed by its miners last week.

According to the notification, the sender of the transaction did not contact the pool within a reasonable time, so it was decided to distribute the commission among the miners. Shortly after receiving the commission, Bitfly asked the sender of the transaction to contact. At the same time, the company noted that it considers a high commission for processing a transaction an error of the sender.

“Given the amount in question, we believe that 4 days was enough for the sender to contact us,” the company writes. “Although several people stated that they were the senders of this transaction, not one of them was able to provide a valid signature from the sender’s wallet.”

The distribution of remuneration among the miners will be carried out on the basis of a photograph of the hashrate used to mine block 10241999 with the mentioned transaction. At the current rate, the amount due to them is $ 2.4 million.

The company also said that in the future it will not take additional measures to search for senders of transactions with allegedly erroneous commissions.

“The payout policy announced by us suggests that we should always fully distribute block rewards. We will stick to it, regardless of the amount, ”writes Bitfly.

Earlier, Vitalik Buterin suggested that high fees on the Ethereum network may not be a sign of someone else’s mistake, but blackmail of the cryptocurrency exchange.

Start using benefits of crypto now!

Read our blog to learn more about cryptocurrency and how you can use it for everyday life.

©2019—2022 BERTES INVEST OU

EXPi trade ® is registered trademark of Bertes Invest OU. Bertes Invest OU (reg. No 12449024) is registered in Estonia with its registration address at Harju maakond, Tallinn, Kesklinna linnaosa, Veskiposti tn 2, 10138, Estonia. Bertes Invest OU operates under Financial services, Providing a virtual currency services license (license number: FVT000291), issued by Estonian Financial Intelligence Unit. Contact phone number: +372 601 9100; e-mail: info@expi.trade.

Risk Awareness

Cryptocurrency is a digital representation of value that functions as a medium of exchange, a unit of account, or a store of value, but their value is completely derived by market forces of supply and demand, and they are more volatile than traditional currencies. Trading or holding funds in cryptocurrencies comes with significant risks, including volatile market price swings or flash crashes, market manipulation. Use EUPi stable coin to secure your funds from market volatility.