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✅ We discovered 5620 distinct Ethereum miners and 15.5 million Ethereum blocks.
✅ We also determined that each block had 110 average transaction counts and 96 median transaction counts.
✅ The maximum and minimum number of transactions per block are 1431 and 0, respectively.
✅ We discovered that the majority of Ethereum miners prefer to mine blocks with a low transaction count, with transactions ranging from 0 to 10. We discovered that just a few miners were mining blocks with a high transaction count.
✅ We also discovered that the majority of Ethereum blocks are mined with a low transaction count, with transactions ranging from 0 to 10 being the most common. We discovered that just a tiny percentage of blocks had a significant transaction count.
According to the aforementioned results, there have been 5620 unique Ethereum miners and 15.5M Ethereum blocks. Furthermore, there are 110 average transaction counts per block and 96 median transaction counts per block. The maximum and minimum transaction count per block are 1431 and 0, respectively.
What Is Ethereum block?
Ethereum currently employs Proof-of-Work as its consensus method and is progressively transitioning to Proof-of-Stake. Because Proof-of-Work consumes a lot of power, it is not environmentally beneficial. Proof-of-Stake mining may mine blocks dependent on the amount of money the miner has, and it is quicker than PoW mining. The preceding block hash, Merkle trie based root hash, date, difficulty, and other information are all stored in an Ethereum block.
What Is Ethereum mining?
Mining for cryptocurrency is the process of solving complicated mathematical problems. Miners are basically the foundation of many cryptocurrency networks since they devote their time and processing power to solving certain math problems, so providing a "proof-of-work" for the network, which confirms Ether (ETH) transactions. Ethereum, like Bitcoin (BTC), currently employs a proof-of-work (PoW) consensus method but will soon convert to a proof-of-stake (PoS) system. Aside from that, miners are in charge of producing new Ether tokens via this method, since they obtain Ether incentives for successfully completing a PoW operation.
Question?
- Do certain miners prefer mining blocks with lower transaction count?
- Do certain miners only mine blocks with high transaction count?
- You can define what can be considered low or high transaction count based on the transaction count distribution
Methodology
- We aim to compute the number of Ethereum miners and the number of Ethereum blocks.
- We also aim to calculate the average, median, min, and max number of transactions in a block.
- We then explore the distribution of miners by total transaction count in a mined block.
- We investigate the distribution of mined blocks by the percentage of transaction count.
Low, medium, and high transaction count definition
To classify low, medium, or high transaction count based on the transaction count distribution, we examine the bin start of the histogram, where low transaction count defined as a bin start that is less than 25 percent of the maximum bin start value. In the meanwhile, the high transaction count is defined as a bin start that exceeds 75% of the maximum bin start value. For the medium transaction count, we defined it as the bin start being between 25 and 75 percent of the maximum bin start value.
The charts to the right and above depict the distribution of miners by the total number of transactions in a mined block. A large number of Ethereum miners can be seen when just a few transactions are mined every block. As seen in the pie chart, the majority of Ethereum miners mine blocks with a low transaction count, with transactions between 0 and 10 being the most preferred among miners. We noticed that only a small number of miners had mining blocks with a high transaction count.
The charts to the right and above illustrate the distribution of mined blocks by the number of transactions processed by each miner. A substantial proportion of blocks mined by Ethereum miners include a small number of transactions. As seen by the pie chart, the majority of Ethereum blocks are mined with a low transaction count, with transactions between 0 and 10 being the most often mined. We observed that just a small proportion of blocks contained a high transaction count.