Etherchain To Distribute $2.6 Million Gas Fee Windfall After Four Days

Etherchain has claimed the $2.6 million fee from last week’s absurd transactions.

The Ether mining pool made a decision on Monday, June 15 to distribute the $2.6 million transaction fee that occurred last week in a series of absurd transactions.

The announcement was made on Twitter by Bitfly, the official account of Etherchain. The tweet reads:

“As the sender of the transaction [ID] has not contacted us after 4 days we have made the final decision to distribute the [transaction] fee to the miners of our pool.”  

In a series of tweets, Etherchain revealed that several people tried to claim ownership of the transaction but failed to provide substantial evidence to back their claim. As a result, the company has decided to share the windfall among its users who participated in mining the block. It will do so “according to a miner hashrate snapshot [taken] at the time block 10241999 was mined by our Ethermine pool,” the second tweet reads.

The company’s decision has been criticized by ETH developer Vlad Zamfir as being too hasty.

It is unknown how much miners will receive exactly but given that Etherchain can only control its mining pool hashrate by 21.2%, it is estimated that the distribution would equal about five days worth of regular mining.

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