Vitalik Buterin sets upper limit for Ethereum amount. Vitalik Buterin has written a new proposal that can pave the way for the solution of one of the most important problems of the Ethereum network. This proposal includes setting a limit on the amount of Ethereum that can be created.
Vitalik Buterin says that the amount of Ethereum will be set at 2 times the original sale amount
In a new Ethereum improvement proposal dated April 1 ( EIP), creator of the cryptocurrency Vitalik Buterin, shared his latest thoughts on the subject. Vitalik Buterin said that the maximum supply of the cryptocurrency Ethereum will be set at 120,204,432, or twice the original sales amount made in the 2014 software change.
Commenters found Vitalik Buterin’s proposal lacking in clarity
In this context, comments indicate that for the first time, Vitalik Buterin has directly addressed the platform’s monetary policy.. Also, commentators have directly criticized this proposal as lacking in clarity, including comments from investors who are potentially skeptical of Ethereum’s investment opportunities.
Ethereum has a more open-ended policy than Bitcoin
Ethereum has a more open-ended policy, although more than 21 million Bitcoins cannot be created according to the rules of the Bitcoin protocol. It has long been said that conditions will change after a milestone change in the design of the protocol, although up to 18 million Ethereum is allowed to be mined each year under the original issuance terms. thinks it will ensure the “economic sustainability” of the platform after migrating to a new algorithm created by Ethereum. Ethereum aims to change its poof-of-work model and move to an alternative Bitcoin-based proof-of-stake model called Casper in a short time.
Vitalik Buterin’s offer for the amount of Ethereum is only a suggestion at the moment
Vitalik Buterin sees the upcoming change as an ideal time to provide clarity on how those who run the software necessary to validate transactions will be rewarded in the future, even if the right conditions are at the idea stage.. According to the post, Vitalik Buterin states that there will be no policy changes until the issuance of 120 million Ether. But at the point of 120 million, he suggests choosing an alternative limit of around 140 million.
It’s important to note, however, that Vitalik Buterin’s proposal is just a suggestion at the moment.. Ethereum developers and users should embrace change, incorporating the official code into the software required by the idea. So, while the idea is worth considering, it could be the start of a process that could take months or years if implemented.
Coindesk