It is planned that Ethereum will become a more scarce cryptocurrency after the first phase of the FFG (Casper the Friendly Finality Gadget) update. This stage should be held in the summer and autumn of this year, combine the mechanisms of Proof-of-Work and Proof-of-Stake.
On April 20, documentation was published with update specifications for EIP 1011.After more than one month of testing, developers fully approved the update settings.With the introduction of Casper FFG, the award of PoW-miners per block will be reduced from 3 to 0.6 ETH (by 80%).
This factor will reduce the inflation of Ethereum and its rate will be 2% per year. Also, after the implementation of the update, the annual Ethereum emission will be 2 million ETH. Recall that the annual inflation rate of Bitcoin (the first in the rating of CoinMarketCap) is 4% with an annual issue of 650 thousand BTC and 17 million coins in turnover.
For example, halving of the award for the block in Bitcoin will occur only in 2020, which will also lead to a decrease in inflation to 2%. Thus, a 2% mark will be achieved by Ethereum much earlier than Bitcoin.
You can read the documentation here: http://eips.ethereum.org/EIPS/eip-1011
We will keep you informed of upcoming updates about Ethereum and be sure to make a post with the crypto community response to this update.
Discuss this news in the Sibcoin group in Telegram (https://t.me/sibcoin_en). Join to be in the tune of Sibcoin’s events and not to miss important updates!