Category: burning

More than $1 billion worth of ether has been burned since Ethereum’s London upgrade

More than $1 billion worth of ether has been burned since Ethereum’s London upgrade

Since the introduction of Ethereum’s London upgrade on August 5, more than 297,000 ETH has been burned — worth just over $1 billion — according to The Block’s Data Dashboard. The upgrade added a new burning mechanism to transaction fees with the goal of making them easier to price. To make a transaction, you now […]

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Here’s how much ETH has already been burned due to EIP-1559

Here’s how much ETH has already been burned due to EIP-1559

Ethereum’s London hard fork has gone live and its effects are already underway. The network upgrade included a specific improvement called EIP-1559, which was designed to simplify how transaction fees are paid. But part of the new mechanism involves burning a portion of the transaction fees, removing them from the circulating supply of coins. And […]

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