105 days since Ethereum moved from proof It’s been a while since we’ve migrated our Work of Work (PoW) blockchain to a Proof of Stake (PoS) network, and the number of Ethereum validators is set to exceed 500,000 by 2023. According to Metrics, Ethereum’s new coin issuance rate has dropped significantly, with only 4,790.45 Ether held.
Ethereum issuance rate is 0.014% per annum, in contrast to a simulated PoW inflation rate of 3.58% per annum
Ethereum (ETH) The network has been operating under the Proof of Stake (PoS) consensus algorithm for over three months, and since then has added 4,790.45 Ethereum or $5.7 million worth to its supply. According to statistics from ultrason.money, Ethereum’s current annual new coin issuance rate is 0.014%.
This is very different from if Ethereum was still a PoW chain. , according to the ultrasonic simulation index. If ETH remained in the PoW chain for the last 105 days, the annual issuance or inflation rate would be 3.58%. This will add approximately 1,247,674.60 Ether to the supply by 10:15 AM ET on December 29, 2022. Instead of adding $5.7 million in value, the PoW ETH chain added over $1.5 billion. by value.
In addition to its low issuance rate, Ethereum also has a burning mechanism, with records showing that approximately 658,000 Ether are burned each year. To date, $8.78 billion in value of 2,795,773 Ether or USD has been burned by destroyingETH since the London Hard Fork on August 5, 2021. Data from Dune Analytics shows the largest leader in terms of number of ETH burned, traditional Ethereum accounting for 247,008 ETH burned (ETH) transfers Since the London Hard Fork.
Non-fungible token (NFT) marketplace Opensea and its users have burned 229,928.53 Ether while decentralized exchange (dex) Uniswap V2 has burned 143,394.07 Ether since August 5, 2021 . Stablecoin transfers USDT equate to 123,014.14 Ether burned to date, with Swaprouter 02 accounting for the fifth largest burner with 110,868.70 Ether burned.
Furthermore, according to current beaconcha.in statistics, the number of validators validating consensus within the Ethereum network is approaching 500,000. On December 28, 2022, 492,863 validators were recorded. This is a significant increase from last year’s validator count of about 275,054, 12 months ago. Data from mevwatch.info also shows that 69% of blocks mined on theETH network are enforced by US Office of Foreign Assets Control (OFAC) compliance. I’m here.
What do you think of Ethereum’s network issuance rate since moving from Proof of Work (PoW) to Proof of Stake (PoS)? Comment section below. So please let us know your thoughts on this matter.
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