Crypto News

Acne Buterin: Reduction of emission of air 2/3 by the end of next year is quite acceptable

The Creator of Ethereum, Vitalik Buterin announced the reduction of emission of ether by ~2/3 at the end of next year, writes Trustnodes.

According to the estimates of Justin Drake, Explorer of the Ethereum Foundation, the first version of Ethereum (on Proof of Work) will begin to “talk” with Ethereum 2.0 around November 2020. Initially the new version will include only the headers of blocks, PoW-blockchain – the network will work this way for several months and Ethereum 2.0 will not actually affect the PoW blockchain.

Then, after the next hardface, scenery will determine decentralized control points in PoW-blockchain. According to the developers, it will be a kind of genesis-the blocks that should significantly increase safety PoW-blockchain, and the emission can be reduced approximately to 0.7 ETH on the block. Ultimately PoW blockchain will be integrated into the new version of Proof of Stake that will finally eliminate the Proof of Work of the network and reduce emissions to 0.22 ETH on the block.

Previously, Mr. Drake suggested 10-fold reduction in 2021, but it’s unclear how much can be reduced emissions. According to the developers, a checkpoint is scheduled for autumn of next year or spring of 2021.

Also Drake does not exclude the possibility that “Ethereum 2.0 will cause a negative issue for the reason that ETH is burned due to the transaction fees. Integration code to the new blockchain will burn ETH. Finally, fines are also burn ETH”. Penalties apply to steneram with unscrupulous behavior who are at risk to lose some or all of the ETH in steninge.

Thus, it concludes Buterin, the combination of all the factors of the transition platform to the new version will reduce the total supply of ether.

Source:coinspot.io

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