After 7 hours of the update, the Ethereum network has already burned BRL 344 million

Charlie Taylor

2371 ETH have already been burned, as per the Etherchain data. which amounts to BRL 34,451,080.49 after 7 hours of update, according to Coingolive quotation. Another important point to be mentioned is that the network will be able to adapt to moments of high demand. That is, when there are more transactions, there will be a higher base rate and more ethers will be burned. However, when the network is less congested, less ethers will be burned. Unlike what some might think, the update has not made ETH a deflationary asset, as token issuance still outweighs burning. However, after the complete transition of the consensus algorithm to Proof-of-Stake and the drop in ethers emission, Ethereum will have great chances of decreasing its total offer over time. , since then the price of ether reacted well to the novelty, trading at US$ 2,773, according to CoinGoLive (+3.92% in 24h). Read More: Buy Bitcoin at Coinext
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