【Dry Goods】Talk about the little-known GAS

Easy miner, creating value for users.

“The number of my mining machines and computing power have not changed, so why is my profit less today than yesterday?”

“My number of mining machines and computing power have not changed, so why did I earn more yesterday than the day before?”

Recently, I often see users discussing the above issues.

We won’t go into detail, but will just give a brief introduction and explanation here.

Before the emergence of DEFI, the income of ETH miners was very simple, with only one item, block reward (a small amount of handling fee is not mentioned for the time being), that is, 2 ETH per block. You mine, I mine, and everyone mines. In theory, everyone shares the 2 ETH equally for each block mined.

After the emergence of DEFI, it is possible that DEFI needs to use the ETH network due to business needs, and a large number of businesses have caused the ETH network to be blocked (sounds familiar?). After the network is blocked, there are always people who want their transfers to arrive faster, so they increase the handling fee for transfers. In the end, everyone gave a handling fee several times, dozens of times, or even hundreds of times higher than usual. At this time, ETH miners reap the benefits and get a lot of handling fees.

This part of the handling fee is another major source of income for ETH miners. Users who mine ETH in F2Pool often see the reward part (as shown below). Isn’t it exciting?

F2Pool directly reflects the handling fee separately, which can also reflect the current handling fee level. However, users of other mining pools don’t need to be sad, they just don’t display it separately. (After DEFI, there should be no mining pools that don’t share handling fees with miners, right?)

So, how else can we tell the level of the handling fee?

Open the website www.gasnow.org, and the several sets of data displayed are the things that affect the transaction fee, which we call GAS.

The level of GAS directly affects the income of ETH miners. The value of GAS fluctuates. If it hovers at a low level all day, your income may be lower when the mining pool settles your earnings the next day.

For reference, during the period when DEFI was very popular, GAS was as high as around 1,000, while a year ago, GAS was probably in the single digits, hovering around 2-3.

I hope this issue’s useful information will be helpful to you.

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