Monday, June 11, the second by market capitalization cryptocurrency Ethereum has overcome a significant historical milestone – the total number of issued coins ETH exceeded 100 million. it is reported by TheNextWeb.
Unlike bitcoin, the number of units is limited to 21 million coins, Ethereum developers did not become not to establish such restrictions for their own cryptocurrency, and for many years it was feared the community from the point of view of possible inflation.
It is noteworthy that in 2016, the founder of Ethereum Vitalik Buterin, making certain calculations, predicted that the number of ETH in the foreseeable future will not exceed 100 million – at least not in this century. Subsequently, however, the plans of the developers has changed.
Probably disbelieving in his predyduschem forecast in April 2018 Buterin has published a new proposal for the improvement of Ethereum (EIP): to limit the total number of esters 120 million units.
“To ensure the sustainability of the platform at the maximum range of possible situations, and also in light of the fact that the issue of new coins is no longer effective to promote egalitarian distribution of the coins or some other significant strategic objectives, I propose that we agreed to limit the total number ETH”, – wrote then Buterin
His proposal was to ensure, to set the maximum number of ETH $ 120 million, i.e. how exactly 2 times more than were sold during the ICO project, but it was not, and today the emission of cryptocurrencies is still not limited.
As notes the edition, the number of issued coins, Ethereum is growing at about 10% per year. The first block of the Ethereum was generated in 2015; the network already had 72 million coins. This means that the remaining 28 million ETH was dobiey for about 3 years after the public launch of the network.
In an attempt to solve the problem of inflation was proposed, a number of other solutions, but none of them was not implemented. However, even if the offer Baterina and will not be accepted, remains a possibility to limit the number of coins Ethereum – this is supposed can help the adoption of the Protocol Casper.
Anticipating the move to the algorithm of the Proof-of-Stake, Casper is expected to reduce the current level of inflation from 10% to 0.5% per year, but its date of introduction not yet defined. If at that time the number of ETH in circulation will exceed the milestone of 120 million, Buterin offers the option to limit the emission of 144 million.
Recall that in early June it was published the results of a comprehensive study of the state of Ethereum, a blockchain held startup ConsenSys.