One million ETH worth have been burned since the implementation of EIP-1559 in August
On a net basis, however, the supply of Ether is still inflating at about 1.2% per year. Go to Source Powered by WPeMatico
gas fees
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While Ethereum Prices Skyrocket, Ether Gas Fees Surge Fueling Costly Transfers
On October 29, 2021, the second-largest crypto asset in terms of market valuation, ethereum, reached an all-time price high at $4,467 per unit. Meanwhile, after the Ethereum network’s Altair upgrade went live, ether gas fees have skyrocketed significantly. As Ethereum Tests New Price Highs, the Average Ether Transfer Fees Onchain Skyrocket The two leading crypto … Read more
Binance Smart Chain Devs Propose Ethereum-Like Gas Fee Burning Mechanism
Developers of the Binance Smart Chain, the Binance-backed decentralized blockchain platform, have proposed applying a mechanism to burn BNB tokens based on the utilization of the network. According to the proposal, this would benefit both validators and holders due to the increase in value that the token would experience thanks to token burns. The proposal, … Read more
Bitcoin Quickly Jumps Above the $52K Zone Only to Get Pushed Back, Crypto Economy Climbs 3.5%
Bitcoin surpassed the $52K handle on Monday morning, as crypto-asset markets have been moving northbound and gathering more fiat value. The overall crypto economy is around $2.45 trillion and it has gained 3.5% during the last 24 hours. Meanwhile, bitcoin charts show a pending golden crossover which to many means the overall market outlook looks … Read more
Cats cause chaos on Ethereum again as Mila Kunis project sells out in 35 minutes
Data from Dune Analytics shows there was a total of 344.4 ETH ($793,000) in value lost to failed Stoner Cats transactions. Go to Source Powered by WPeMatico
EY publishes an Ethereum scaling solution to the public domain
Global auditing giant Ernst & Young has released the third iteration of its zero-knowledge proof Ethereum scaling solution. Go to Source Powered by WPeMatico
ShapeShift takes aim at gas fees with new FOX token functionality
FOX holders will be able to offset gas fees proportionally to their token holdings. Go to Source Powered by WPeMatico
Polygon to Democratize NFT Interactions by Improving Approachability
To pave the way for greater adoption of non-fungible tokens and bring down the barriers hampering more widespread participation, Polygon is leveraging its parallel network’s proof-of-stake approach to reduce Ethernity Chain’s gas costs. Layer 2 Solution to Make Ethereum-Based NFTs More Accessible Non-fungible tokens (NFTs) remain the talk of the town, intriguing crypto enthusiasts and … Read more
Kenya Based Technology Firm Switches to Pancakeswap, Cites High Gas Fees on Uniswap
In its bid to help users avoid high gas fees on Uniswap, a Kenya-based fintech firm, UTU, recently launched a liquidity pool on the decentralized exchange (dex), Pancakeswap. This launch enables prospective UTU coin buyers to acquire the token “with low fees and fast confirmation times.” In a statement posted on the firm’s blog, UTU, … Read more
Defi Venture XFai Reveals Liquidity Generation Event, Project Backed by Angel Investor Roger Ver
Decentralized finance (defi) has seen extreme demand and innovative use-cases during the last 12 months. Defi oracles, decentralized exchange (dex) platforms and automated money makers (AMM) have swelled in value, as statistics show over $43 billion is locked into defi protocols today. Meanwhile, a new project has recently stepped out of the gate called XFai, … Read more
