The post Ether Turns Deflationary For The First Time After The Merge, Coinbase Reports appeared first on Coinpedia Fintech News
According to the report, the supply of tokens dropped by 4,000 in the last week as more ether was consumed validating transactions than was produced.
Ether (ETH) passed a “post-Merge milestone” this week, becoming deflationary for the very first time since the Ethereum blockchain transitioned to proof-of-stake (PoS), according to a Thursday report from crypto exchange Coinbase.
Since the Merge, the rate of new ether creation has dropped by approximately 90%, said Coinbase.
The Merge, which required switching to a more energy-efficient PoS consensus mechanism, was the first of five planned upgrades for the Ethereum blockchain.
English