Creator of Ethereum Vitalik Buterin thought about how to limit the emission of this cryptocurrency. Among the proposals is to withdraw some of the coins from circulation by collecting a commission for applications on the Ethereum blockchain. This is reported by Bloomberg.
According to the publication, this thought was prompted by Buterin's observation of the appearance of new cryptocurrencies, which since the beginning of 2017 attracted about $ 3 billion during the initial coin offering(ICO).
At the same time, Vitalik Buterin does not consider the option of limiting the emission of Ethereum by analogy with bitcoin. Instead, he suggests charging commissions for applications built on Ethereum. According to his calculations, eventually these commissions will withdraw from circulation a part of the tokens.
If the token is being burned, then you have an economic model that says the value of the token is the net present value of basically all future burnings. It’s just a currency that goes up and down. It feels kind of like voodoo economics and the price of the token isn’t really backed by anything. That’s a very spooky thing.
He also added that his team will continue to look for ways of irreversible destruction of Ethereum tokens.