damaged Ethereum (ETH) With one week of negative release for the first time on Sunday, the effects of the deflationary design of the entire network were felt.
The network burns a portion of the fee every time a transaction is made Ethereum, since the promotion London Hard Fork London hardfork, which carried out the proposal EIP-1559 deflationary;
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Ethereum deflationary
Founding Monument Week in Ethereum News، Evan Van Ness, Sunday:
"for the first time, Ethereum Check one week of negative releases.”
where . indicated Fan Ness Van Ness, until “Deflationary Ethereum”, according to last week's average, with a net decrease of 100%, burned Ethereum over version.
The net was burning 8.92 Ethereum worth 38.730 Dollars per minute, over the course of 24 last hour, according to Etherchain.org Etherchain.org, at the time of writing this report.
In fact, the grid burning mechanism has been burned 714414 Ethereum, a value of more than 3.1 billion Dollars, at the time of writing, since the proposal entry EIP-1559 into effect.
Read also: Ethereum miners hoard $2 billion in mining rewards
Based on the leaderboard ultrasound. money, the open sea OpenSea Responsible for burning the bulk of the network fee Ethereum.
Also the market Non-fungible tokens (NFT) Burning represents approximately 92000 Ethereum , which is equivalent to about 398 million dollars, according to a supply tracking website Ethereum .
While the decentralized stock exchange Uniswap (DEX) Uniswap V2, represents the total 53329 Ethereum It has been burned so far, and is the largest in the past seven days.
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before "merging"
It has been traded Ethereum temporarily up 4400 Dollar last week, breaking its all-time high (ATH), where the network continues, whose value is currently estimated at about 511 billion dollars, reap the rewards of successful promotions.
I also succeeded Ethereum Recently, in the implementation of an upgrade Beacon Chain, which is called Altair, which brings the network one step closer to “merging”.
The first network upgrade on the Ethereum proof-of-stake chain, Altair, was successful! Really proud of the rockstar devs I get to learn from at @prylabs and everyone involved in Ethereum that made this happen. You can follow the block explorer here https://t.co/AvgfGaQ2tp
— Raul Jordan (@rauljordaneth) October 27, 2021
In the end, it will be merged Ethereum Mainnet current with PoS Proof of Stake System for series Beacon Chain Which will mark the end of an era PoW . Proof of Work for the network.
After the full transition to mechanism proof of stake PoS Network will continue Ethereum In subtracting strings Shard.
Also Read: Will Ethereum 2.0 Kill Its Future Because of Transaction Fees?
It is indicated that the multi-stage upgrade is set to improve scalability Ethereum and its capacity, as the fragmentation will eventually spread the network load across 64 new series.
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