Ethereum Breaks Blockchain Transaction Record, Price Steady

The Ethereum network has recorded a record 410,000 transactions in the last 24 hours - more than any Blockchain ever, reports say.

Co-founder Vitalik Buterin retweeted the data Tuesday which should 410,061 transactions completed in what reporting source ethgasstation says “is the highest ever recorded for any public Blockchain.”

ETH transactions in the last 24 hours at an all time high (410,061):https://t.co/FWb9m1dtVp

— Vitalik Buterin (@VitalikButerin) August 15, 2017

The figures put Ethereum firmly ahead of Bitcoin in terms of transaction numbers, the latter confirming around 255,000 according to Blockchain.info.

ETH has remained fairly stable in price over the past week, hovering around $300 without significant wavering.

Bitcoin nonetheless continues to outperform the largest altcoin many times over, contrasting with the apparent frenetic trading activity which is heavily influenced by ERC20 token purchases.

Meanwhile, Buterin rebutted criticism of the apparent high prices for using the Ethereum Blockchain to store data.

Responding to a separate tweet by Zcash Foundation direction Andrew Miller, the entrepreneur noted costs per kilobyte “may vary from $0.02 to $1.81,” contrary to Miller’s assertion of $0.50.

That depends. History or state, 20 gwei or 4 gwei or 1 gwei gasprice? Price may vary from $0.02 to $1.81 depending on context.

— Vitalik Buterin (@VitalikButerin) August 15, 2017

Former Bitcoin Core developer Jeff Garzik also lent his weight to supporting Ethereum costs.

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