Langsung ke konten utama
Ethereum’s new transaction fee-burning mechanism EIP-1559 has removed $30 million in ETH from the network’s circulation since it came into effect two days ago.

EIP-1559, one of five upgrades introduced as part of Ethereum’s London hard fork on August 5, has replaced Ethereum’s auction-style transaction fee mechanism with an algorithmically determined alternative.

Unless users specifically choose to “tip” miners, they will no longer receive transaction fees; instead, the fees are burned, reducing the total supply of Ethereum in circulation.

According to data on Ethereum tracker Ultrasound.money, 1,332 ETH ($4.1 million) burned so far originates from transactions on the NFT marketplace OpenSea, where trading volumes have spiked since a CryptoPunks trading frenzy began last week.

The second top ETH burner is decentralized exchange Uniswap V2, where transactions have burned 810 ETH ($2 million).

The third is Axie Infinity, an Ethereum-based game in which players purchase NFTs of monsters and battle them against each other. Axie Infinity has burned 626 ETH ($1.9 million).
Users Lose $490,000 Trying to Mint Knockoff CryptoPunks NFTs
NFT project COVIDPunks, a CryptoPunks knockoff with a pandemic twist, is the fourth highest gas-guzzling Ethereum project, with 528 ETH ($1.6 million) burned.

In fifth place is Tether (USDT), a stablecoin with a market cap of $62 billion. Tether is built on the Ethereum network—in addition to Tron—and is responsible for 510 ETH ($1.5 million) burned. Stablecoins are cryptocurrencies "pegged" to a fiat currency on a 1:1 basis.
The merge
Ethereum’s London hard fork may have completely changed the way miners are compensated on the blockchain but more change is yet to come. Soon, Ethereum will transition from proof-of-work to proof-of-stake.

Next on the network’s agenda is the “merge”, which connects Ethereum's mainnet to the Ethereum 2.0 beacon chain—when the current iteration of Ethereum links up with the next generation of the network.

Ethereum co-founder Vitalik Buterin told Bloomberg earlier this week that the London upgrade is "proof that the Ethereum ecosystem is able to make significant changes," and that it "definitely makes me more confident about the merge."
Ethereum Is Burning $10,000 Every Minute After EIP-1559 Upgrade
The merge is also pivotal for Ethereum staking, which powers Ethereum 2.0. Around 5% of all ETH is currently staked in ETH 2.0. That’s around 6.5 million ETH, worth around $20 billion.

Alex Svanevik, CEO of blockchain analytics firm Nansen, told Decrypt last month that this figure is likely to go up after the merge because investors will be able to withdraw their staked ETH. The Ethereum Foundation plans a post-merge "cleanup" upgrade to allow for withdrawals of staked ETH, and expects that “to happen very soon after the merge is completed."
https://cryptozine.xyz/30-million-in-ethereum-burned-just-two-days-after-eip-1559-launch/

Komentar

Postingan populer dari blog ini

Bitcoin Recovers, but will BTC Bulls Pump Prices to $50k?

Bitcoin prices have been both hot and cold. The freeze of September 20 was countered by the warmth of September 22, which offered a relief rally for permabulls. When writing, BTC prices are pretty much constant, oscillating within a tight range above January 2021 highs. Waving Bitcoin Price Action The bounce from the expected reaction zone was a sigh for traders who, after September 20 dip, expected the worst. Admittedly, even with these losses, the uptrend is still shaky from an Effort-versus-Results perspective. For example, in the weekly chart, there is a double bar bearish reversal pattern. At the same time, in the daily chart, BTC prices are still trending below the 20-day moving average. Besides, despite the recovery of September 22, the bar has lighter trading volumes. From volumes analysis, this is week and doesn’t bode well for chartists who still sense weakness in the uptrend, potentially more room for even more losses in the days ahead. Bitcoin On-Chain Indicators Interesti...

Exploring the CropBytes Metaverse: A Futuristic Crypto Game With Real Economics and Immersive Graphics

On January 20th, CropBytes, the four-year-old metaverse farming game, is launching the brand new terrain with immersive 3D graphics. The new version upgrade greatly improved the already cute graphics of the game and brought a fresh feeling that adapts to the latest game aesthetics on mobile devices. What’s more, it keeps all the fun! Introduction The farm simulation game CropBytes was launched in 2018 and has quickly become one of the most immersive crypto gaming experiences with a global game community, surpassing 400,000 organic downloads. The NFT game is available on both the Apple and the Google app stores for Android and IOS users. CropBytes gameplay is a simple but intricately designed playscape ripe for creating a stable & sustainable economy. For the team behind the game, it was essential to focus on sustainable economics, which helped build a long-term game for crypto players. CropBytes was created with an emphasis on the economics of the game beyond the bull run. Most ...

NFT project partners with Afghanistan organization to help women get access to education

“This is a generation that grew up hopeful and dreaming about their future through educational opportunities,” said Women for Afghan Women’s U.S. country director Naheed Samadi Bahram. Non-fungible token company Bookblocks.io has partnered with a New York-based organization to help women in Afghanistan have access to education amid the Taliban takeover. Bookblocks.io announced it would be releasing a non-fungible token, or NFT, on Oct. 5 with the proceeds given to Women for Afghan Women, an organization which helps provide women access to education and vocational training in both Afghanistan and the United States. The artwork, inspired by American author Louisa May Alcott, features half a woman’s face covered by a single butterfly wing with the quote “nothing is impossible to a determined woman.” When the Taliban took control of Afghanistan in the 1990s, they banned education for almost all women and girls. History has practic...