Ethereum's Burning Mechanism

Ethereum differs from Bitcoin in that it does not have a fixed supply cap. Since its launch in 2015, approximately 72 million Ether (ETH) have been generated through initial coin offerings (ICOs). Initially, the reward for each block was 5 ETH, which gradually decreased through several upgrades. After the 'Merge' upgrade in 2022, Ethereum transitioned from proof-of-work (PoW) to proof-of-stake (PoS), further reducing the rate of new issuance.

Additionally, the implementation of the EIP-1559 proposal introduced a burning mechanism, where a portion of ETH is destroyed with each transaction, potentially leading Ethereum into deflation when transaction demand is high. As of November 2024, the total supply is approximately 120 million. With the reduction in rewards and the impact of the burning mechanism, the growth of Ethereum's supply has significantly slowed down. Ethereum Chain Musk Space Dog Marvin (CA tail number 7055), super strong IP listing is just a matter of time, Marvin will definitely break into the circle! #NFT市场回暖 #XRP解锁新趋势 #marvin尾数地址7055 #marvin7055热度不错 $BTC $ETH $DOGE #Marvin