Ethereum is processing the equivalent of nearly the triple of BTC-size transactions per day, by less than half the fees??

in #cryptocurrency7 years ago (edited)

A standard BTC-size transaction on Ethereum uses 21,000 gas units.

This means that Ethereum processed the equivalent of: c. 720,000 bitcoin-size transactions.

BTC confirmed 255,483 transactions on July 4 (source: https://blockchain.info/charts/n-transactions)

While the average transaction fee on bitcoin is more than the double of ethereum's (source: https://bitinfocharts.com/comparison/transactionfees-btc-eth.html)

It's worth noting that the cost of an ETH transaction confirmed in more or less the same amount of time as BTC transaction is another 1.5 orders of magnitude less expensive.

ETH - $0.005 for < 10 mins

BTC - $3.00 for ~ 10 mins

From these calculations I would say that I am more interested in piling up ETH instead of BTC even though the prices for each of them are very different.

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