‘ethburned.info’ Report Shows More Than 200,000 Ethereum Burned by EIP-1559
The Ethereum blockchain is burning up According to the latest available data, the amount of Ethereum destroyed by EIP-1559, a recently deployed update that burns transaction fees that were previously paid to miners, has topped 200,000 ETH (equivalent to around $675 million at the prices at which it was burned). According to ethburned.info, a total […]
‘Mr. ‘Wonderful’ Shills Ethereum as ‘Ultra-Sound Money’ Following EIP-1559
Ethereum is being swarmed by sharks. Earlier this year, Kevin O’Leary, the Canadian investor best known for his position as “Mr. Wonderful ” on the reality competition show “Shark Tank,” announced that he was changing his mind about cryptocurrencies. After the network’s London upgrade, which began putting deflationary pressure on ETH’s price last week, he’s […]
Just two days after the launch of EIP-1559, $30 million of Ethereum was lost
As a result of the London hard fork (EIP-1559), which took effect on August 5, the Ethereum network has withdrawn $30 million from circulation. The London hard fork modified the way miners get compensated. Since it went into effect two days ago, Ethereum’s new transaction fee-burning mechanism EIP-1559 has taken $30 million in ETH from […]
Ethereum’s London hard fork is now live
Ethereum’s hard fork the highly-anticipated upgrade to crypto’s second-largest network is now live, the upgrade hopes to bring in new changes. The London hard fork of Ethereum has just been completed at block number 12965000. The fork delivers five major changes to the network, the most prominent of which is EIP-1559 . Though it has […]
Here’s what could go wrong with the Ethereum Hard Fork taking place in few hours
EIP-1559 has the potential to drive up the price of Ethereum while making transactions more convenient. Some, however, caution that it is not as straightforward as it appears. As part of an upgrade to the Ethereum network scheduled for Thursday, five Ethereum Improvement Proposals will be implemented into the blockchain’s code. EIP-1559 is the change […]