Ethereum Blockchain Confirms Second Transaction With $2.6M Gas Fee
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Ethereum Blockchain Confirms Second Transaction With $2.6M Gas Fee

June 12, 2020      Vandana Malik

Ethereum blockchain, one of the biggest blockchain platforms has recently confirmed its second transaction with $2.6million in Gas fee within 24 hours. The first transaction was for 0.55 ETH and another one was for 350 ETH, both these transactions were processed with a $2.6 million gas fee. The whole crypto community is getting quite confused over these transactions and absurd gas fee to process these transactions. A lot of them are thinking that these transactions are mysterious and might be related to money laundering or any other stuff like that.

Both transactions on Ethereum blockchain are from the same address

While going through these transactions, it has also been revealed that both of these transactions which took place on Ethereum blockchain belonged to the same address only. However, the blocks have been mined by separate miners which indicates that these transactions might not be related to money laundering.

The Bitfly team has also gone through these transactions and they believe these to be a mistake. The team has also said that they will get in touch with the senders and will ensure that this issue will be resolved. According to Vitalik Buterin, co-founder of Ethereum, with the protocol update, these types of problems will not occur in future. He also accepts these transactions as a mistake and assured the users that with the new upgrade the need for manual fee setting has been reduced.

These transactions were different from normal Ethereum transactions 

According to one Twitter user, the two transactions which took place in the last 24 hours are quite different from the normal Ethereum transactions. Even though it has been confirmed by the firm that this was a mistake but still there is a lot of confusion going around in the whole crypto community. The address from which these transactions took place, still holds 350 ETH.

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Vandana Malik
Vandana Malik

Vandana has received Master of Arts degree in English from GEU Dehradun. She is currently working as a content writer with Agio Support Solutions and earlier worked as a sub-news editor at Business News and Information Services Private Limited. She is an enthusiastic content writer and aims to bring a compelling yet informative content to the audience. Meanwhile, enhancing her own knowledge in the cryptocurrency and blockchain industry.