Ethereum miners income exceeded bitcoin, Due to the ongoing war between Russia and Ukraine, the corrupt currency has become the focus of attention of governments around the world. Mining has also increased due to the growing demand for digital currency worldwide. Last month, Ethereum’s miners earned 1.29 billion in revenue.
Ethereum Miners’ revenue grew 7.2 percent between February and March this year, according to data from The Block, a website that tracks blockchain technology. That’s 1.08 times more than the bitcoin miners.
Earlier in November last year, Ethereum Miners saw a huge increase in revenue. His total income in November was 2.7 billion, but since then it has started to decline.
Statistics show that out of 1.29 billion, almost all of the revenue came from bulk subsidies, while 100 million came from transaction fees. According to the report, a large part of the increase in Miners’ income was due to EIP-1559 (Etherin Improvement Proposal), Which came as a result of the London upgrade in August last year.
The EIP-1559 upgrade had a significant effect on the transaction fee system and it distributed the transaction fee.
What is Ethereum Improvement Proposal 1559?
It is a pricing mechanism that includes fixed block network fees.