There is an Ether Leeum ecosystem I witnessed an amazing development With the introduction of a new token called BETH (Burned Eth Token). This token Recently released The Ether Leeum Community Foundation is an attempt to reconstruct how to understand and apply Ether Lee's burn mechanics.
Instead of the invisible process in which ETH is destroyed according to EIP-1559, Beth was created to provide a real and traceable form for burning Etherrium.
Beth makes the burning ETH visible
Below Existing Ether Lee Mechanics, In particular, some of the ETH, such as EIP -1559, transaction fees, are destroyed without leaving traces and are used only to emphasize scarcity. But the new Beth of the ECF changes this. According to ECF websiteBETH is designed to capture and formulate the concept of evidence of burns.
When the user sends ETH to a designated contract, it will deliver the funds to an irreversible video address and finish the BETH of the same amount by 1: 1. As a result, each best token functions as a transparent and audit receipt for ETH, which is truly removed from the circulation. This means that the more BETH tokens are, the more the more ETHs are removed from the circulation.
Social Media Platform X, ECF founder Zak Cole Beth is compared to Weth. “Beth must burn ETH for Weth packing ETH.” Just as Weth is an ether for smart contracts, BETH can be used as a building block of a new epidemiology that expires the name space that must be activated by auctions and continuous burns defined as burn -based votes and irreversible token destruction.
Despite potential use cases, Beth is just a token that means the user's burn activity. Therefore, Zak Cole pointed out that Beth should not be treated as a receipt and a token with its own value. Nevertheless, it is easy to claim that changing the burned ETH into a token can easily burn.
Ether Leeum's Burns mechanics
The ethical combustion in the Ether Leeum block chain began with the revitalization of London Hard fork on August 5, 2021. This upgrade has introduced EIP-1559 (Ethereum Improvement Proposal 1559), which has fundamentally changed Ether Leeum's commission mechanism. Instead of all transaction fees directly moving directly to the miners, the basic fees of each transaction were burned and permanently removed from the circulation.
According to Data of ultrasound moneyTo date, the total ETH burned in the London hard fork is about 4612 million ETH. At the same time, about 84.31 million ETHs have been issued since then, which has increased ethical circulation by 388 million ETH.
In September 2022, Ether Lee's work proof to the certificate of understanding was rapidly slowed down, and deflation is a more realistic long -term scenario. If the demand is strong.
0.339 BETH was created at the time of writing. Etherscan data.
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