More Than $1B in ETH Has Been Burned Since Ethereum’s London Hard Fork — CoinDesk


The fee market upgrade in EIP 1559 implemented a 12.5% base fee increase or decrease per block, depending on the level of demand in the previous block. Post-upgrade, the miners still receive the priority fee; however, all the ether used for the base fee is now “burned” or permanently removed from the network.



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