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Ethereum Triple Halving Date

Understand what Ethereum Triple Halving is & when’s the estimated halving date

$1,814.84 0.18% Buy ETH

Market Cap

$218,270,211,475

Circulating Supply

120,269,409 ETH

Max Supply

--

Current Block

17,314,317

Ether (ETH)<\/strong><\/a> is the native cryptocurrency coin of the Ethereum ecosystem. Ethereum is an open-source blockchain that offers its users a broad range of functionalities. The development of Ethereum has seen rise in new blockchain technologies, such as <strong>smart contracts, <a href=https://www.bitdegree.org/"https:////www.bitdegree.org//crypto//learn//crypto-terms//what-are-decentralized-applications-dapps/">decentralized applications (dApps)<\/a>, and the Ethereum Virtual Machine (EVM)<\/strong>. Thus, all these technologies make Ethereum unique.<\/p>\n<p>Due to its functionality, Ethereum is sometimes referred to as the world computer. It&rsquo;s highly programmable and aims for complete decentralization, allowing users full control over their blockchain-based projects without the need for intermediaries. At the time of writing, Ethereum is the <a href=https://www.bitdegree.org/"//cryptocurrency-prices//ethereum-eth-price/">second-biggest cryptocurrency<\/strong><\/a> in the world based on market capitalization.<\/p>\n<h2>Who Developed Ethereum?<\/h2>\n<p>Ethereum was co-founded by a team of eight programmers and entrepreneurs. <strong>Vitalik Buterin<\/strong> is known as the author of the Ethereum whitepaper and is perhaps the most recognizable member of the founders&rsquo; team. Buterin is a programmer who has been involved with crypto since 2011. He was 19 when he penned the ETH whitepaper in 2014.<\/p>\n<p><strong>Gavin Wood<\/strong> is a computer scientist and one of the developers of <a href=https://www.bitdegree.org/"https:////www.bitdegree.org//crypto//learn//crypto-terms//what-is-solidity/">Solidity, the programming language used by Ethereum. Alongside co-founding Ethereum, Wood also created <a href=https://www.bitdegree.org/"https:////www.bitdegree.org//crypto//learn//what-is-polkadot-in-crypto/">Polkadot, a decentralized network that enables cross-chain peer-to-peer transactions and blockchain interoperability.<\/p>\n<p>Other co-founders include Anthony Di Iorio, an entrepreneur who has invested in a number of blockchain projects, Charles Hoskinson, former CEO and the co-founder of the Ethereum Foundation, Mihai Alisie, founder of the AKASHA Foundation, Joseph Lubin, entrepreneur and founder of ConsenSys, entrepreneur Amir Chetrit, and programmer Jeffrey Wilcke.<\/p>\n<p>Of the initial co-founder team, <strong>Buterin is the only one still actively involved in the Ethereum project<\/strong>. While some members have left to work on competitive blockchains or have left the industry altogether, Alisie and Lubin have been involved in projects that provide layer 2 support for Ethereum.<\/p>\n<p>Prior to the official launch, the Ethereum team held an <a href=https://www.bitdegree.org/"https:////www.bitdegree.org//crypto//learn//crypto-terms//what-is-initial-coin-offering-ico/">Initial Coin Offering (ICO)<\/strong><\/a> in 2014 to attract investors and put the asset on the blockchain map. During the period, the Ethereum price was set at roughly $0.3. After the successful ICO campaign, Ethereum officially launched on 30 July, 2015.<\/p>\n<p>According to Wood, <strong>Ethereum was set to serve as a single computer<\/strong> that can encompass the entire Earth. Throughout the years, it's introduced new technologies that had not been utilized on blockchains before.<\/p>\n<p>In recent years, the asset has become increasingly volatile, with the Ethereum price experiencing more frequent swings. It saw a steady increase in its value throughout 2021.<\/p>\n<p>October-December 2021 was one of the most significant periods for Ethereum's market performance. Similar to <a href=https://www.bitdegree.org/"//crypto//buy-bitcoin-btc/">Bitcoin, ETH recorded its highest-ever worth to date. On November 16th, the ETH price peaked at $4,891.<\/p>\n<p>As the second-biggest cryptocurrency in the world, Ethereum plays an important role in <strong>setting up market trends<\/strong>. Despite aiming for decentralization, it has been subject to financial regulations in different countries.<\/p>\n<p>U.S. tax regulations have caused some Ethereum price fluctuations. ETH was also strongly affected by the crypto market crash in June 2022.<\/p>\n<h2>What Makes Ethereum Unique?<\/h2>\n<p>Ether is the native coin of Ethereum. However, the blockchain can be used to develop other tokens as well. Ethereum-based tokens can be used by other blockchain platforms as&nbsp;<strong>means of payment, staking, or to power <a href=https://www.bitdegree.org/"https:////www.bitdegree.org//crypto//learn//crypto-terms//what-are-decentralized-applications-dapps/">dApps and DeFi services.<\/strong><\/p>\n<p>Ethereum is one of the biggest cryptocurrencies in the world by market capitalization, coming second only to Bitcoin (BTC). The supply of ETH crypto assets is not limited by a hard cap, making it an <strong>inflationary coin.<\/strong> Take a look above to see how many Ethereum coins are in circulation.<\/p>\n<p>Do note that ETH can only be used on the Ethereum network. However, there is a designated ERC-20 token known as <a href=https://www.bitdegree.org/"https:////www.bitdegree.org//crypto//learn//crypto-terms//what-is-wrapped-ether-weth/">Wrapped Ether (wETH)<\/strong><\/a>. It is pegged to the value of Ethereum and can enable cross-chain transactions.<\/p>\n<h3>What Are Smart Contracts?<\/h3>\n<p><a href=https://www.bitdegree.org/"https:////www.bitdegree.org//crypto//learn//crypto-terms//what-is-smart-contract/">Smart contracts<\/strong><\/a> are self-executing programs on the blockchain. The technology was developed to enable anonymous peer-to-peer transactions and automate the process of verification. The smart contracts that contain transaction data are distributed through the network.<\/p>\n<p>Smart contracts were introduced on Ethereum. They have since revolutionized blockchain technology and become a crucial part of decentralized finance (DeFi) by enabling simpler on-chain trading, lending, and investing procedures.<\/p>\n<h3>What is the Ethereum Virtual Machine (EVM)?<\/h3>\n<p><a href=https://www.bitdegree.org/"https:////www.bitdegree.org//crypto//learn//crypto-terms//what-is-ethereum-virtual-machine-evm/">The Ethereum Virtual Machine (EVM)<\/strong><\/a> is a Turing-complete blockchain-based software that functions as a decentralized computer. It&rsquo;s responsible for executing all tasks within Ethereum. Its code is entirely isolated from any external processes, and each network node runs on the EVM to ensure the consensus is maintained.<\/p>\n<h3>What are Tokens and NFTs?<\/h3>\n<p>Although blockchain-based tokens were not invented on Ethereum, this platform played a crucial role in the rising popularity of fungible and non-fungible tokens (NFTs). There are several different token standards on Ethereum, such as <strong>ERC-677, ERC-1155, and ERC-948.<\/strong> However, the two most popular Ethereum token standards are <strong>ERC-20 and ERC-721.<\/strong><\/p>\n<p><a href=https://www.bitdegree.org/"https:////www.bitdegree.org//crypto//learn//crypto-terms//what-is-erc-20/">ERC-20 is the most commonly used token standard on the platform. While the Ethereum coin is native to the platform, ERC-20 tokens can be used on Ethereum-based decentralized platforms. Well-known examples of popular ERC-20 tokens include stablecoins such as DAI and USD Coin (USDC).<\/p>\n<p><a href=https://www.bitdegree.org/"https:////www.bitdegree.org//crypto//learn//crypto-terms//what-is-erc-721/">ERC-721 are known as non-fungible tokens, making them one-of-a-kind assets that cannot be duplicated or replicated. They often have special features that cannot be used with other token standards and offer unique use cases. NFTs are often used as digital collectibles and decentralized gaming assets.<\/p>\n<h3>What is EIP-1559?<\/h3>\n<p>In August 2021, the Ethereum network conducted a large-scale upgrade known as the <strong>London Hard Fork.<\/strong> One of the core changes implemented during this upgrade was <strong>EIP-1559.<\/strong><\/p>\n<p>EIP-1559 was developed to deal with the <strong>issues related to gas fees<\/strong> on the platform. The way gas, or transaction fees, are calculated on Ethereum has been an issue for most of the network&rsquo;s run. Prior to the upgrade, all transactions would be manually chosen by the miners to validate, often leading to the higher transactions receiving priority.<\/p>\n<p>The manual selection of transactions would often lead to network congestions, delaying the transaction validation time. The EIP-1559 upgrade was developed to reduce network bottlenecks and automatize the transaction processing.<\/p>\n<p>The upgrade introduced <strong>automatic base fees. <\/strong>It&rsquo;s a set amount of <a href=https://www.bitdegree.org/"https:////www.bitdegree.org//crypto//learn//crypto-terms//what-is-gwei/">Gwei that the users pay for their transactions to be processed. The base fee depends on traffic congestion. Users that require faster transaction processing are able to pay a priority fee to move up in the queue.<\/p>\n<p>In addition to the automatization of the fees distribution, EIP-1559 also added an <strong>inflation-management mechanism.<\/strong> With each transaction, the base fee is burned to reduce the amount of Ethereum in circulation. The long-term aim of this mechanism is to ensure that the ETH price stabilizes over time and the value increases.<\/p>\n<p>Furthermore, the <strong>fee burning mechanism<\/strong> exists to regulate the price of the gas fees themselves to ensure that the users are paying a fair amount for their transactions. It&rsquo;s possible that the issues related to Ethereum price including gas fees will be further mitigated with the launch of Ethereum 2.0.<\/p>\n<h3>What is Ethereum 2.0?<\/h3>\n<p>Ethereum uses the <a href=https://www.bitdegree.org/"https:////www.bitdegree.org//crypto//learn//crypto-terms//what-is-proof-of-work-pow/">Proof-of-Work (PoW)<\/strong><\/a> consensus mechanism, which is also employed by many other blockchains, including Bitcoin. This means that in order to increase the asset&rsquo;s supply, new Ethereum coins must be mined using special hardware.<\/p>\n<p>This method of creating cryptocurrency requires high energy resources and can be expensive and inefficient. Furthermore, it can have a significant ecological impact due to the amount of heat generated by the hardware and the difficulty of acquiring materials required to produce the devices, like lithium and cobalt.<\/p>\n<p>Since the launch of Ethereum, the <a href=https://www.bitdegree.org/"https:////www.bitdegree.org//crypto//learn//crypto-terms//what-is-proof-of-stake-pos/">Proof-of-Stake (PoS)<\/strong><\/a> method of creating cryptocurrency has become more prominent. For this reason, the Ethereum network underwent the Merge in summer of 2022.<\/p>\n<p><strong>The Merge<\/strong> is the name of the project that switches Ethereum from the PoW to the PoS consensus algorithm. It is expected that the Merge will help solve some of Ethereum&rsquo;s biggest problems related to scalability and transaction speed. It&rsquo;ll make the network more sustainable overall and will significantly reduce Ethereum&rsquo;s energy consumption.<\/p>\n<p><strong>Ethereum 2.0<\/strong> will be a merger of the current Ethereum Mainnet and <a href=https://www.bitdegree.org/"https:////www.bitdegree.org//crypto//learn//crypto-terms//what-is-beacon-chain/">the <strong>Beacon Chain system<\/strong><\/a> which uses the PoS consensus algorithm. The total supply of Ethereum will be adjusted to account for the burned fees and the new ETH coin issuance system.<\/p>\n<p>Under the PoS system, users must stake a minimum of 32 ETH to start acting as network validators. For participating in this role, users are eligible to earn 6% APR as an incentive to continue their contributions to the network. The amount of rewards is expected to be adjusted as the size of the network increases.<\/p>\n<h3>What is the Ethereum Name Service (ENS)?<\/h3>\n<p>The Ethereum Name Service (ENS) is a distributed, open-source <strong>Ethereum-based naming service<\/strong>. It works similarly to the <strong>Domain Name Service (DNS)<\/strong>. However, it has a significantly different architecture allowed by blockchain technology. In essence, ENS is used to convert machine-readable Ethereum addresses into human-readable ones.<\/p>\n<p>So, instead of a long string of random letters and numbers (<em>which is how crypto addresses usually look<\/em>), you can name your address \"<em>cryptoenthusiast.eth<\/em>.\" Then, when someone wants to send you crypto, they don't need to type in your actual alphanumeric address, they can simply use the name you linked to it through ENS.<\/p>\n<h3>What is an Ethereum Killer?<\/h3>\n<p>Ethereum killers are usually those <a href=https://www.bitdegree.org/"https:////www.bitdegree.org//crypto//learn//crypto-terms//what-is-layer-1-blockchain/">Layer-1 blockchains<\/strong><\/a> that are created with features similar to the ones Ethereum has, plus some improvements that solve the problems faced by the blockchain. As the name suggests, such networks seek to replace Ethereum. The two main areas that most Ethereum killers seek to improve are&nbsp;<strong>fees and transaction processing time<\/strong>.<\/p>\n<p>Some of the most popular networks that are dubbed Ethereum killers include <a href=https://www.bitdegree.org/"//cryptocurrency-prices//solana-sol-price/">Solana (SOL)<\/strong><\/a>, <a href=https://www.bitdegree.org/"//cryptocurrency-prices//polkadot-new-dot-price/">Polkadot (DOT)<\/strong><\/a>, <a href=https://www.bitdegree.org/"//cryptocurrency-prices//polygon-matic-price/">Polygon (MATIC)<\/strong><\/a>, and others. However, while these networks really are popular, as of writing, none of them managed to actually surpass Ethereum.<\/p>","link":"https:\/\/www.bitdegree.org\/cryptocurrency-prices\/ethereum-eth-price"}" :fiat-currency=""USD"" :chart-type="["price","candlestick"]" :start-range="7" >
Ether (ETH)<\/strong><\/a> is the native cryptocurrency coin of the Ethereum ecosystem. Ethereum is an open-source blockchain that offers its users a broad range of functionalities. The development of Ethereum has seen rise in new blockchain technologies, such as <strong>smart contracts, <a href=https://www.bitdegree.org/"https:////www.bitdegree.org//crypto//learn//crypto-terms//what-are-decentralized-applications-dapps/">decentralized applications (dApps)<\/a>, and the Ethereum Virtual Machine (EVM)<\/strong>. Thus, all these technologies make Ethereum unique.<\/p>\n<p>Due to its functionality, Ethereum is sometimes referred to as the world computer. It&rsquo;s highly programmable and aims for complete decentralization, allowing users full control over their blockchain-based projects without the need for intermediaries. At the time of writing, Ethereum is the <a href=https://www.bitdegree.org/"//cryptocurrency-prices//ethereum-eth-price/">second-biggest cryptocurrency<\/strong><\/a> in the world based on market capitalization.<\/p>\n<h2>Who Developed Ethereum?<\/h2>\n<p>Ethereum was co-founded by a team of eight programmers and entrepreneurs. <strong>Vitalik Buterin<\/strong> is known as the author of the Ethereum whitepaper and is perhaps the most recognizable member of the founders&rsquo; team. Buterin is a programmer who has been involved with crypto since 2011. He was 19 when he penned the ETH whitepaper in 2014.<\/p>\n<p><strong>Gavin Wood<\/strong> is a computer scientist and one of the developers of <a href=https://www.bitdegree.org/"https:////www.bitdegree.org//crypto//learn//crypto-terms//what-is-solidity/">Solidity, the programming language used by Ethereum. Alongside co-founding Ethereum, Wood also created <a href=https://www.bitdegree.org/"https:////www.bitdegree.org//crypto//learn//what-is-polkadot-in-crypto/">Polkadot, a decentralized network that enables cross-chain peer-to-peer transactions and blockchain interoperability.<\/p>\n<p>Other co-founders include Anthony Di Iorio, an entrepreneur who has invested in a number of blockchain projects, Charles Hoskinson, former CEO and the co-founder of the Ethereum Foundation, Mihai Alisie, founder of the AKASHA Foundation, Joseph Lubin, entrepreneur and founder of ConsenSys, entrepreneur Amir Chetrit, and programmer Jeffrey Wilcke.<\/p>\n<p>Of the initial co-founder team, <strong>Buterin is the only one still actively involved in the Ethereum project<\/strong>. While some members have left to work on competitive blockchains or have left the industry altogether, Alisie and Lubin have been involved in projects that provide layer 2 support for Ethereum.<\/p>\n<p>Prior to the official launch, the Ethereum team held an <a href=https://www.bitdegree.org/"https:////www.bitdegree.org//crypto//learn//crypto-terms//what-is-initial-coin-offering-ico/">Initial Coin Offering (ICO)<\/strong><\/a> in 2014 to attract investors and put the asset on the blockchain map. During the period, the Ethereum price was set at roughly $0.3. After the successful ICO campaign, Ethereum officially launched on 30 July, 2015.<\/p>\n<p>According to Wood, <strong>Ethereum was set to serve as a single computer<\/strong> that can encompass the entire Earth. Throughout the years, it's introduced new technologies that had not been utilized on blockchains before.<\/p>\n<p>In recent years, the asset has become increasingly volatile, with the Ethereum price experiencing more frequent swings. It saw a steady increase in its value throughout 2021.<\/p>\n<p>October-December 2021 was one of the most significant periods for Ethereum's market performance. Similar to <a href=https://www.bitdegree.org/"//crypto//buy-bitcoin-btc/">Bitcoin, ETH recorded its highest-ever worth to date. On November 16th, the ETH price peaked at $4,891.<\/p>\n<p>As the second-biggest cryptocurrency in the world, Ethereum plays an important role in <strong>setting up market trends<\/strong>. Despite aiming for decentralization, it has been subject to financial regulations in different countries.<\/p>\n<p>U.S. tax regulations have caused some Ethereum price fluctuations. ETH was also strongly affected by the crypto market crash in June 2022.<\/p>\n<h2>What Makes Ethereum Unique?<\/h2>\n<p>Ether is the native coin of Ethereum. However, the blockchain can be used to develop other tokens as well. Ethereum-based tokens can be used by other blockchain platforms as&nbsp;<strong>means of payment, staking, or to power <a href=https://www.bitdegree.org/"https:////www.bitdegree.org//crypto//learn//crypto-terms//what-are-decentralized-applications-dapps/">dApps and DeFi services.<\/strong><\/p>\n<p>Ethereum is one of the biggest cryptocurrencies in the world by market capitalization, coming second only to Bitcoin (BTC). The supply of ETH crypto assets is not limited by a hard cap, making it an <strong>inflationary coin.<\/strong> Take a look above to see how many Ethereum coins are in circulation.<\/p>\n<p>Do note that ETH can only be used on the Ethereum network. However, there is a designated ERC-20 token known as <a href=https://www.bitdegree.org/"https:////www.bitdegree.org//crypto//learn//crypto-terms//what-is-wrapped-ether-weth/">Wrapped Ether (wETH)<\/strong><\/a>. It is pegged to the value of Ethereum and can enable cross-chain transactions.<\/p>\n<h3>What Are Smart Contracts?<\/h3>\n<p><a href=https://www.bitdegree.org/"https:////www.bitdegree.org//crypto//learn//crypto-terms//what-is-smart-contract/">Smart contracts<\/strong><\/a> are self-executing programs on the blockchain. The technology was developed to enable anonymous peer-to-peer transactions and automate the process of verification. The smart contracts that contain transaction data are distributed through the network.<\/p>\n<p>Smart contracts were introduced on Ethereum. They have since revolutionized blockchain technology and become a crucial part of decentralized finance (DeFi) by enabling simpler on-chain trading, lending, and investing procedures.<\/p>\n<h3>What is the Ethereum Virtual Machine (EVM)?<\/h3>\n<p><a href=https://www.bitdegree.org/"https:////www.bitdegree.org//crypto//learn//crypto-terms//what-is-ethereum-virtual-machine-evm/">The Ethereum Virtual Machine (EVM)<\/strong><\/a> is a Turing-complete blockchain-based software that functions as a decentralized computer. It&rsquo;s responsible for executing all tasks within Ethereum. Its code is entirely isolated from any external processes, and each network node runs on the EVM to ensure the consensus is maintained.<\/p>\n<h3>What are Tokens and NFTs?<\/h3>\n<p>Although blockchain-based tokens were not invented on Ethereum, this platform played a crucial role in the rising popularity of fungible and non-fungible tokens (NFTs). There are several different token standards on Ethereum, such as <strong>ERC-677, ERC-1155, and ERC-948.<\/strong> However, the two most popular Ethereum token standards are <strong>ERC-20 and ERC-721.<\/strong><\/p>\n<p><a href=https://www.bitdegree.org/"https:////www.bitdegree.org//crypto//learn//crypto-terms//what-is-erc-20/">ERC-20 is the most commonly used token standard on the platform. While the Ethereum coin is native to the platform, ERC-20 tokens can be used on Ethereum-based decentralized platforms. Well-known examples of popular ERC-20 tokens include stablecoins such as DAI and USD Coin (USDC).<\/p>\n<p><a href=https://www.bitdegree.org/"https:////www.bitdegree.org//crypto//learn//crypto-terms//what-is-erc-721/">ERC-721 are known as non-fungible tokens, making them one-of-a-kind assets that cannot be duplicated or replicated. They often have special features that cannot be used with other token standards and offer unique use cases. NFTs are often used as digital collectibles and decentralized gaming assets.<\/p>\n<h3>What is EIP-1559?<\/h3>\n<p>In August 2021, the Ethereum network conducted a large-scale upgrade known as the <strong>London Hard Fork.<\/strong> One of the core changes implemented during this upgrade was <strong>EIP-1559.<\/strong><\/p>\n<p>EIP-1559 was developed to deal with the <strong>issues related to gas fees<\/strong> on the platform. The way gas, or transaction fees, are calculated on Ethereum has been an issue for most of the network&rsquo;s run. Prior to the upgrade, all transactions would be manually chosen by the miners to validate, often leading to the higher transactions receiving priority.<\/p>\n<p>The manual selection of transactions would often lead to network congestions, delaying the transaction validation time. The EIP-1559 upgrade was developed to reduce network bottlenecks and automatize the transaction processing.<\/p>\n<p>The upgrade introduced <strong>automatic base fees. <\/strong>It&rsquo;s a set amount of <a href=https://www.bitdegree.org/"https:////www.bitdegree.org//crypto//learn//crypto-terms//what-is-gwei/">Gwei that the users pay for their transactions to be processed. The base fee depends on traffic congestion. Users that require faster transaction processing are able to pay a priority fee to move up in the queue.<\/p>\n<p>In addition to the automatization of the fees distribution, EIP-1559 also added an <strong>inflation-management mechanism.<\/strong> With each transaction, the base fee is burned to reduce the amount of Ethereum in circulation. The long-term aim of this mechanism is to ensure that the ETH price stabilizes over time and the value increases.<\/p>\n<p>Furthermore, the <strong>fee burning mechanism<\/strong> exists to regulate the price of the gas fees themselves to ensure that the users are paying a fair amount for their transactions. It&rsquo;s possible that the issues related to Ethereum price including gas fees will be further mitigated with the launch of Ethereum 2.0.<\/p>\n<h3>What is Ethereum 2.0?<\/h3>\n<p>Ethereum uses the <a href=https://www.bitdegree.org/"https:////www.bitdegree.org//crypto//learn//crypto-terms//what-is-proof-of-work-pow/">Proof-of-Work (PoW)<\/strong><\/a> consensus mechanism, which is also employed by many other blockchains, including Bitcoin. This means that in order to increase the asset&rsquo;s supply, new Ethereum coins must be mined using special hardware.<\/p>\n<p>This method of creating cryptocurrency requires high energy resources and can be expensive and inefficient. Furthermore, it can have a significant ecological impact due to the amount of heat generated by the hardware and the difficulty of acquiring materials required to produce the devices, like lithium and cobalt.<\/p>\n<p>Since the launch of Ethereum, the <a href=https://www.bitdegree.org/"https:////www.bitdegree.org//crypto//learn//crypto-terms//what-is-proof-of-stake-pos/">Proof-of-Stake (PoS)<\/strong><\/a> method of creating cryptocurrency has become more prominent. For this reason, the Ethereum network underwent the Merge in summer of 2022.<\/p>\n<p><strong>The Merge<\/strong> is the name of the project that switches Ethereum from the PoW to the PoS consensus algorithm. It is expected that the Merge will help solve some of Ethereum&rsquo;s biggest problems related to scalability and transaction speed. It&rsquo;ll make the network more sustainable overall and will significantly reduce Ethereum&rsquo;s energy consumption.<\/p>\n<p><strong>Ethereum 2.0<\/strong> will be a merger of the current Ethereum Mainnet and <a href=https://www.bitdegree.org/"https:////www.bitdegree.org//crypto//learn//crypto-terms//what-is-beacon-chain/">the <strong>Beacon Chain system<\/strong><\/a> which uses the PoS consensus algorithm. The total supply of Ethereum will be adjusted to account for the burned fees and the new ETH coin issuance system.<\/p>\n<p>Under the PoS system, users must stake a minimum of 32 ETH to start acting as network validators. For participating in this role, users are eligible to earn 6% APR as an incentive to continue their contributions to the network. The amount of rewards is expected to be adjusted as the size of the network increases.<\/p>\n<h3>What is the Ethereum Name Service (ENS)?<\/h3>\n<p>The Ethereum Name Service (ENS) is a distributed, open-source <strong>Ethereum-based naming service<\/strong>. It works similarly to the <strong>Domain Name Service (DNS)<\/strong>. However, it has a significantly different architecture allowed by blockchain technology. In essence, ENS is used to convert machine-readable Ethereum addresses into human-readable ones.<\/p>\n<p>So, instead of a long string of random letters and numbers (<em>which is how crypto addresses usually look<\/em>), you can name your address \"<em>cryptoenthusiast.eth<\/em>.\" Then, when someone wants to send you crypto, they don't need to type in your actual alphanumeric address, they can simply use the name you linked to it through ENS.<\/p>\n<h3>What is an Ethereum Killer?<\/h3>\n<p>Ethereum killers are usually those <a href=https://www.bitdegree.org/"https:////www.bitdegree.org//crypto//learn//crypto-terms//what-is-layer-1-blockchain/">Layer-1 blockchains<\/strong><\/a> that are created with features similar to the ones Ethereum has, plus some improvements that solve the problems faced by the blockchain. As the name suggests, such networks seek to replace Ethereum. The two main areas that most Ethereum killers seek to improve are&nbsp;<strong>fees and transaction processing time<\/strong>.<\/p>\n<p>Some of the most popular networks that are dubbed Ethereum killers include <a href=https://www.bitdegree.org/"//cryptocurrency-prices//solana-sol-price/">Solana (SOL)<\/strong><\/a>, <a href=https://www.bitdegree.org/"//cryptocurrency-prices//polkadot-new-dot-price/">Polkadot (DOT)<\/strong><\/a>, <a href=https://www.bitdegree.org/"//cryptocurrency-prices//polygon-matic-price/">Polygon (MATIC)<\/strong><\/a>, and others. However, while these networks really are popular, as of writing, none of them managed to actually surpass Ethereum.<\/p>","link":"https:\/\/www.bitdegree.org\/cryptocurrency-prices\/ethereum-eth-price"}" :fiat-currency="{"name":"United States Dollar","logo":"\/crypto-prices\/fiat-logos\/USD.svg","symbol":"USD","sign":"$","price":1}">

Ever since the Ethereum Merge was first announced, the hype and anticipation within the general crypto community have been growing steadily. Even after the Merge finally happened, back on September 15, 2022, the topic of Ethereum Triple Halving still comes up all around the web. It’s about time we take a look at what it is, as well as how it relates to the Merge event.

What is Ethereum Triple Halving?

Before anything else, let’s first get the definitions out of the way.

The Ethereum Triple Halving is a process that consists of three parts - staking, ETH gas fee burning, and reduced token issuance. This halving, unlike those of other cryptocurrencies, doesn’t have a specific, set date - since it happens in phases, it’s actually a continuous process.

Out of all of the halving events that happen within the crypto industry, the Ethereum Triple Halving is probably among the most complicated-to-understand ones. In order to get a complete picture of the Ethereum halving phenomenon, you’ll need to have some background context first.

Ethereum’s History, Proof-of-Work VS Proof-of-Stake, and the Merge

If you’re reading this text about the ETH halving process, I probably don’t need to tell you that Ethereum is the second-largest cryptocurrency on the market, standing firmly behind Bitcoin.

ETH has a very interesting and rocky history, but with it being such a broad topic, here, we’ll focus only on the things that relate to the Ethereum Triple Halving. A key element in that would be the Proof-of-Work consensus mechanism.

As you might know, in the world of crypto, two groups of people exist - miners and stakers. The former group participates in crypto mining - they employ their computers or special machines to earn cryptocurrency coins or tokens for confirming legitimate transactions (blocks) on the blockchain.

As opposed to that, staking is a process where you take your existing crypto and employ it to validate transactions. The end result is the same – block confirmations and a more secure network – but the actual processes differ dramatically.

Ethereum triple halving: miners are talking to each other.

Ever since it was created back in 2015, Ethereum has employed the Proof-of-Work model. This would mean that you could earn ETH by mining it – the same as, say, Bitcoin. Indeed, Proof-of-Work is, to this day, the most popular consensus mechanism.

That being said, PoW does come with a lot of issues, too, the biggest of which is the damage that it does to the environment. Mining requires an unprecedented amount of electricity, which, in turn, contributes to the global warming phenomenon.

Furthermore, Proof-of-Work is also far from being an ideal choice for ETH from a network efficiency perspective. Ethereum has, for the longest time, dealt with scalability issues, security concerns, and huge network transaction fees. Eventually, new and vastly improved blockchain technologies started popping up all around, promising far better statistics than those of ETH.

Thus, Ethereum needed to do something in order to circumvent all of these issues. EIP-1559 and the Merge, accompanied by the Ethereum Triple Halving, is that “something”.

EIP-1559, The Merge, and Proof-of-Stake

EIP-1559, or Ethereum Improvement Proposal, also known as the London Hard Fork, is an update that occurred on Ethereum’s network on August 5, 2021. This update brought a variety of features and changes to ETH, but the one that received the most attention (and that’s most relevant to ETH halving) was the gas fee burn.

To put it very simply, EIP-1559 implemented gas fee burn mechanics into ETH. This would, over a long period of time, burn a lot of ETH coins and, thus, facilitate the deflationary features of the asset.

Since Ethereum isn’t hard-capped - meaning that there’s no limit to how much ETH there will ever be - deflationary mechanics are absolutely essential in keeping the coin relevant and maintaining its price long-term.

Then, there’s the Merge. Essentially, it’s the biggest update that the Ethereum network has experienced to date.

Ethereum triple halving: staking ETH.

It’s not an over-exaggeration, either - during the Merge, the Ethereum network transitioned from Proof-of-Work to Proof-of-Stake. This means that there are no more miners on the network - instead, ETH is now stakeable.

Naturally, there were multiple other benefits that came along with this - security, scalability, and so on. However, when it comes to the Ethereum Triple Halving, the staking functionality is at the top of the importance list.

Before the Merge, there were many speculations on what this new Ethereum would look like - how it would work, how the market would react, what would happen with all of the staked ETH (more on that a bit later), and so on. It makes sense - it’s really the first update of its kind in the entire crypto industry!

The Merge was implemented successfully on September 15, 2022. This was a huge sigh of relief to many crypto enthusiasts around the world. However, as I mentioned at the beginning of the text, people started asking about the Ethereum Triple halving date, as well as how this halving would look. Let’s break it down, shall we?

How Does the Ethereum Triple Halving Work?

As I’ve told you earlier, the Ethereum Triple Halving is a process that doesn’t have a specific date. This is the very first thing that makes it unique and different from, say, Bitcoin halving.

While BTC halving happens every 4 years or so, ETH halving is a bit more complex in the sense that it’s continuous. While this isn’t a clear-cut consensus within the community, you could say that ETH halving began with the earlier-discussed EIP-1559 update.

Why is it called “triple halving”, though? Well, simply because it consists of three aforementioned parts:

  • Fee burning
  • Staking
  • Token issuance rate reduction

The fee-burning mechanics call back to EIP-1559 - we’ve covered that part already. Staking is also something that we’ve discussed - there is one thing concerning this topic that I’ve yet to mention, however.

That thing has to do with the staked ETH on the Beacon chain.

The Beacon chain is the now-main blockchain of Ethereum. It was launched on December 1, 2020, and worked beside the old Ethereum Proof-of-Work blockchain. Eventually, when the Merge finally happened, ETH transitioned to the Beacon chain as its main blockchain network.

Ethereum triple halving: Beacon chain.

Why is all of that important when it comes to the Ethereum Triple Halving? Well, crypto enthusiasts could stake their ETH on the Beacon chain before it was launched to help facilitate its development. With a minimum entry bar of 32 ETH, the chain managed to amass nearly 14 million ETH, totaling in a staggering value of almost $21 billion.

Now, imagine if that $21 billion worth of ETH were to unlock, all at once, upon the completion of the Merge, and if the holders of that Ethereum decided to then dump it into the market. This would likely mean a complete and total crash of not only Ethereum but the rest of the crypto market!

Thankfully, this is something that’s also part of the Ethereum Triple Halving - the locked-up ETH will be released periodically without impacting the market too much.

Well, at least theoretically.

The last component of the ETH Triple Halving is the token issuance question.

When Ethereum was still in its Proof-of-Work days, the issuance rate for the crypto in question was huge. Every single day, around 13,000 ETH would be issued (minted) to miners - that’s an absolutely insane number to think about! However, with the transition to Proof-of-Stake, this number has dropped to approximately 1,700 ETH per day.

Well, that’s the case, according to the official data. Some other sources are even more positive about this aspect - they claim that ETH is on the verge of becoming deflationary and that if this keeps up, there will be more Ethereum burned than that which is coming into the market on a yearly basis.

So, all three of these aspects come together to make up the Ethereum Triple Halving. Interestingly enough, it’s not even a halving process, per se - instead, it simply adopted this name due to halvings being a phenomenon with similar technicalities surrounding it.

Ethereum triple halving: EIP-1559 launch.

While we’ve established that the ETH halving dates back to EIP-1559 and even before that, when is it going to finish, though? Does this process even have an objective, established end date?

Not really, no. However, the answers to these questions seem to be very inconclusive.

Some experts say that the Ethereum Triple Halving is a done deal - that it finished with the Merge event. This, however, wouldn’t be the correct assumption to make, granted that 1) the Merge happened not too long ago, and the staking process still needs time to manifest any notable results, and 2) the staked ETH will only start unlocking about half a year after the Merge.

So, in other words, it probably wouldn’t be incorrect to assume that the Ethereum Triple Halving is still happening to this day. When will it end, then?

Once again, it’s impossible to say for sure - there’s no specific, set date for when the ETH halving is set to finish. Since it’s not really an objective process but rather an abstract concept, everyone will have their own opinions on matters that are seemingly objective - i.e., the start and end dates of the phenomenon.

How Does the Ethereum Triple Halving Affect the Price of ETH?

Up to this point in the text, we’ve discussed some of the more technical aspects surrounding the Ethereum Triple Halving. The one topic that I’ve been avoiding (consciously, mind you) is the effect that the ETH halving has had – and will have – on the price of the asset.

Why was I avoiding this question? It’s pretty simple, really - it’s such a popular topic that it deserves a separate chapter in and of itself.

So, then, let’s not waste any time and get right into it - take a look at the Ethereum price chart below:

Ethereum triple halving: ETH chart.

As you can see, the two lines represent the Beacon chain launch, as well as the Merge (Ethereum 2.0 transition) periods. There’s quite a bit of unpacking to do here.

First and foremost, if you know nothing about the crypto market, your immediate assumption might be that the Beacon chain launch – and the weeks leading to it – were the reason for Ethereum’s massive price explosion right afterwards.

While that certainly might have added to it, the reality isn’t quite this simple. Instead, the whole crypto market experienced a massive bullish period from the beginning of 2021, and the reasons for that were quite varied.

After the huge uptick in price, ETH started tumbling and fluctuated around the period of the Merge. However, this is a very interesting phenomenon to observe as well.

Countless people believed that ETH would start rising in price exponentially, thanks to the Merge as well as the Ethereum Triple Halving. A single look at the chart will reveal that this wasn’t the case - instead, right as the Merge happened, the price of ETH fell.

Was this surprising? No, not at all. Crypto investors might have simply “bought the rumor, sold the news” - they waited for the hype surrounding the Merge to grow so that they could maximize their potential profits and then sell when the event finally happened.

This isn’t really indicative of the bigger picture, though, especially when it comes to the ETH halving. While the Merge date might have brought underwhelming results, asset price-wise, the Ethereum Triple Halving is a long-term process - it is expected that ETH will grow in price in the future, and the short-term fluctuations won’t really affect it all that much.

What are the Ethereum Triple Halving Price Predictions for the Future?

Naturally, if we’re talking about the future of Ethereum, as well as the ETH Triple Halving, it would be impossible to ignore the giant elephant in the room that is price predictions.

Indeed - even after the Merge finally happened and ETH crashed in price, this topic has remained unquestionably relevant and widely discussed among the different circles of crypto enthusiasts around the world.

Now, if there’s one thing that we should clear up, it’s the fact that no one can predict the actual price that ETH (or any other cryptocurrency) will hit at a specified point in time. Truth be told, while that *is* the case generally, with Ethereum, it’s even more-so complicated.

That’s simply due to the fact that ETH is so popular and, thus, by extension, so widely used and adopted. Major crypto news can really impact Ethereum’s price in either direction!

Ethereum triple halving: ETH price predictions.

That being said, let’s still make some educated guesses on what ETH might do next, price-wise.

The sentiments online surrounding ETH will differ depending on when it is that you look at them. It’s really a combination of multiple factors that are at play - general crypto (or global) news, some popular posts or videos about the Merge, people questioning what is the Ethereum Triple Halving, and so on.

All of these things (and much more) work to create a general market trend. If they are positive, the prices of cryptocurrencies (including ETH) tend to go up. If things are a bit shakier and the market has entered a bearish period, then the outlook might not be as favorable.

All of that is, admittedly, very self-explanatory. However, there really is no mystery surrounding the matter - the whole market follows the same logic!

So, if you’re looking for price predictions or are interested in whether the price of ETH will rise or fall in the near future, you should keep an eye on these factors - read the news, follow the recent market trends, and check to see how the crypto market reacts to all of it. Educating yourself about the Ethereum Triple Halving is definitely necessary as well!

The Significance of Ethereum Triple Halving

Now, before we finish off our ETH halving discussion, there’s one more notable point to talk about - the significance of this phenomenon as it relates to the different types of crypto enthusiasts out there.

We’ll start off with the most obvious group of people - ETH miners.

Miners

Miners are certainly the most impacted group when we’re talking about the Ethereum halving dates. The reason behind this is pretty obvious as well - thanks to the Merge, there’s no more ETH mining. Instead, Ethereum can now only be staked.

Admittedly, the reactions from miners regarding this simple factor were quite varied. As you might expect, negative sentiments dominated the space - if you’re an ETH miner, you probably have some kind of a mining machine, and these devices cost money.

With ETH no longer being mineable, you can see how this would be a serious problem.

Ethereum triple halving: mining rigs.

Some miners opted to search for new crypto assets to mine, so as to not make their investments go to waste. Others quit mining altogether. Then, you have those people who transitioned to staking Ethereum, too. However, if you used to be an ETH miner and still have all of your mining equipment, this might not have been the most popular option.

The one mitigating factor, however, is the fact that miners did have a lot of time to come up with a plan and decide on what they wanted to do after the Merge. This is because both ETH 2.0 and the Ethereum Triple Halving are concepts that had been talked about and analyzed for a very long time before they actually took place!

Investors

When it comes to the Ethereum halving, investors are probably the most straightforward group to discuss. Their objective is quite obvious - to maximize their investments. If you’re an investor in Ethereum, though, your experience with the Merge and ETH halving might be quite a rollercoaster!

As I told you earlier in the text, most investors believed that the Ethereum Merge event would cause the price of Ethereum to skyrocket. When this didn’t happen, some people panicked and started offloading their ETH into the market. This, in turn, caused the price of the asset in question to dip.

If you’re a long-term investor, though, and not a day trader, your sentiments might be a bit different. Long-term investors are usually believers in the projects that they’ve chosen to invest in, and following that logic, they tend to look into the details as well.

In that type of scenario, you’re probably well aware of what the Merge is and how the Ethereum Triple Halving would affect the market or the short-term price of ETH. It’s quite interesting how the sentiments can differ, depending on which side of the fence you find yourself on!

The General Crypto Community

Last but not least, we have the general crypto community - people who might not be investors in ETH or even fans of the network behind the token, but do still find themselves orbiting the crypto space in one way or another.

So, how does Ethereum Triple Halving, as well as the Merge to ETH 2.0, affect these people?

Well, you do already know that Ethereum is an absolutely major crypto project that has thousands of other, smaller projects built on top of it. Thus, if something affects ETH, it certainly affects the rest of the crypto space as well!

Ethereum triple halving: a man is sitting and thinking.

Following that logic, major events such as the Merge act as huge milestones in the development of the space. It’s always a risky concept – if something were to go wrong, it would mean major losses all over the crypto industry.

Granted that the Merge was successful and the Ethereum Triple Halving phenomenon is still at play, the above is thankfully a scenario that was avoided. So, in short, whether you’re looking to invest in ETH, stake it, or are simply interested in observing the journey of this piece of crypto technology from afar, the Merge was mostly a positive event, as far as the rest of the space is concerned.

Summary

The Ethereum Triple Halving is among the most confusing halving concepts out there. While we’ve covered it extensively in the text above, let’s have a quick summary of the main points, shall we?

The key takeaways are:

  • ETH Triple Halving isn’t a traditional halving, but instead, a very general, abstract concept (idea) about how Ethereum would work after the Merge;
  • It consists of three individual, smaller concepts - staking, token burning, and reduced ETH issuance rate;
  • It is believed that all three of these factors would eventually make Ethereum deflationary and, thus, raise its price in the process;
  • There is no specific Ethereum Triple Halving date - instead, it’s a process that is said to happen in the background over a long period of time;
  • While many people believed that the Merge event would cause the price of ETH to go up instantly, this did not happen, and instead, ETH initially dipped even lower;
  • On the flip side, long-term investors believe that both the transition to ETH 2.0, as well as the ETH Triple Halving are going to influence a positive price movement over a longer period of time;
  • Since ETH can no longer be mined, many miners have either transitioned to other Proof-of-Work cryptocurrencies or quit mining crypto altogether.

If you keep these key points in mind, you should have a pretty good idea of what is ETH Triple Halving, how it works, and how it influences the rest of the crypto space in general.

Conclusions

That wraps up our guide on Ethereum Triple halving - thanks for reading!

Make sure to look into other cryptocurrency halvings, as well. Bitcoin is a prime example - the halvings of this cryptocurrency are among the most notable events in the crypto space, so it’s definitely important to understand them!

Other Halving Dates

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