EIP1559 is an inflation killer, not a fee reduction mechanism

A key difference between Bitcoin and Ethereum lies in the total supply of coins. Bitcoin has a capped supply of 21 millions coins (of which almost 19 are already in circulation), issued at a current rate of 6.25 bitcoins per block since the 2020 “halving” (halving: every four years, the issuance rate is divided by two). This translates into a slightly less than 2% monetary inflation rate (new supply per year / total in circulation).

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Raphael Meyer

Raphael Meyer

Author, KEYS to BITCOIN: learn how Bitcoin really works https://www.amazon.com/dp/1734773324 and Twitter @RaphaTheGrey