In the past 24 hours, XEN Crypto contract gas consumption ranked first, exceeding 900 ETH

2022-10-09 11:17:25

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According to Chain Catcher news, data from the OKLink multi-chain explorer shows that in the past 24 hours, the XEN Crypto contract launched by former Google co-founder Jack Levin ranked first in Gas consumption, having consumed over 920 ETH; it also ranked first in ETH destruction, with over 882 ETH destroyed.

It is reported that XEN uses a Proof of Participation mining mechanism, where participants in XEN mining own the mined XEN tokens. As the number of participants increases, the mining difficulty rises and the supply decreases. The mining quantity = 3000 * log2(global ranking - user ranking) * chosen token claiming time limit. Since mining is done using Gas fees, if the price of XEN rises, the ETH network Gas fees will also increase. (Source link)

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