Network participants burn over 300,000 ether worth more than $ 1 billion technology

August 2021 have successfully completed the Ethereum network and its participants the highly expected London upgrade, in which the Ethereum Improvement Proposal (EIP) -1559 was implemented. Since then, 303,681 Ethers worth more than one billion US dollars have been burned.

more than 300k ether burned according to EIP-1559

Ethereum worth more than one billion dollars ( eth ) has been burned to this day after the london upgrade was implemented 42 days ago. The biggest changes to the Ethereum Blockchain contain eip-1559 and eip-3554. While EIP-3554 changed the difficulty bomb, EIP-1559 changed the fee rate from Ethereum to a new scheme that makes the crypto-asset ether deflationary.

Essentially, the fees are standardized and calculated based on network demand, since a transaction prize mechanism introduces a basic fee for every block found in the network. The rest of the fees are burned and Ethereum supporters assume that this will significantly reduce the overall offer to Ethereum. Until today, September 16, 2021, the Ethereum network has burned 303,681 with the value of over $ 1 billion to the ether changes in the Ether.

OpenSea still the biggest burner, StableCoin transfers are added to the burner stack

The largest burners in the network are people who transmit ether from one address to another, as well as decentralized applications (DAPPS) and decentralized financial platforms (Defi). The biggest ether burner is today the non-fungible token (NFT) marketplace OpenSea as dune analytics statistics burned. Traditional ether transfers follow on Openea, which have added 25,514 ether to the burner stack.

Uniswap V2 and the StableCoin project Tether ( usdt ) occupy the third and fourth position in relation to the upper Ether burner. To date, the second version of the Uniswap The decentralized stock exchange (Dex) has burned 16,665 ether worth 55.8k. Tethers Stablecoin usdt 15.015 ether, since this is responsible for the burning of 51 million US dollar. Other top burners are Axie Infinity, Uniswap V3, Metamask, the StableCoin project USDC and the registry from OpenSea.