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I don't follow cryptocurrency news, but the example query of cost transferred sums is interesting. What the heck happened around July 2nd?
by CobrastanJorji 8y ago
I don't follow cryptocurrency news, but the example query of cost transferred sums is interesting. What the heck happened around July 2nd?
- aldoushuxley001 8y agoA bunch of hungover Canadians?
- TTPrograms 8y agoThere was a Chinese decentralized exchange that (foolishly) decided they would include ERC20 coins for trading according to which had the most transfers from unique accounts to the exchange (I believe?). This incentivised individuals who wanted their coins included to distribute them among as many sock puppet accounts as possible and transfer them separately to the exchange. The resulting transaction traffic had a non-negligible impact on network capacity. In cases of load like that (or many individuals with strong incentives for their transactions to get in) people pay higher fees to increase the probability that their transaction is included in the next block.