http://jaberwalk.victoryc.hop.clickbank.net/
Australian university researchers have questioned Bitcoin (
$93,731.00 ) ’s reputation as the best store of value network in cryptocurrency, with Ethereum (
$3,366.98 ) on track “to becoming the world’s first deflationary currency.”
A Nov. 18 paper by four Australian researchers discusses how the EIP-1559 upgrade makes ETH a potentially better store of value. The research comes was coauthored by Ester Félez-Viñas from the University of Technology Sydney, Sean Foley from Macquarie University, Jonathan Karlsen from the University of Western Australia, and Jiri Svec from the University of Sydney.
Ethereum ( $3,366.98 ) ’s EIP-1559 upgrade in August saw the network burn a portion of transaction fees and more than one million ETH has been burned from the 118,583,580 circulating supply.
At times, the report says, transaction fees amounting to more than 50% of the 12,000 newly minted ETH per day are burned thanks to EIP-1559. They believe that as demand for Ethereum ( $3,366.98 ) increases due to its robust ecosystem of decentralized finance dApps, more ETH will be burned.
The researchers write that Ethereum ( $3,366.98 ) is already less inflationary than Bitcoin ( $93,731.00 ) .
“Annualizing the rate of Ethereum ( $3,366.98 ) creation since EIP-1559, the expected increase in the total Ethereum ( $3,366.98 ) supply is only 0.98%, being less than half the 1.99% increase in Bitcoin ( $93,731.00 ) supply which is almost certain in the same period.”
The researchers conclude Ether provides “better inflationary hedging properties than Bitcoin ( $93,731.00 ) , and Ether may therefore offer a superior long-term value storage than Bitcoin ( $93,731.00 ) .”
There has been growing interest in Bitcoin ( $93,731.00 ) ’s hard cap of 21 million coins and its suitability as an inflation hedge due to rampant money printing during the pandemic and inflation increasing throughout to hit 6.2% in the U.S in October. However the research suggests investors may also wish to consider Ethereum ( $3,366.98 ) for this purpose.
Ethereum ( $3,366.98 ) proponents have begun calling ETH “ultra sound money” in response to Bitcoin ( $93,731.00 ) ers touting BTC as “hard money” or “sound money.”
Related: Increased utility in DeFi, NFTs back Ethereum ( $3,366.98 ) ’s 3-year high in its ETH/BTC pair
However Bitcoin ( $93,731.00 ) supporters like MicroStrategy head Michael Saylor favor Bitcoin ( $93,731.00 ) because they see it as infinitely more secure in terms of hash rate and more dependable given its unchanged supply and infrequently changed protocol. Ethereum ( $3,366.98 ) has been undergoing a constant evolution and has seen change. Saylor explained why he believes Bitcoin ( $93,731.00 ) is the best option on Tucker Carlson’s show on Dec. 1, when he said:
“ Bitcoin ( $93,731.00 ) is the highest form of property that the human race has ever invented.” MicroStrategy purchased another $414 million worth of Bitcoin ( $93,731.00 ) on Nov. 29.
