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Ethereum Founder

New Proposals from Vitalik Buterin for Ethereum: “713K ETH Could Be Burned Per Year”

Vitalik Buterin has made new proposals for Ethereum, which has lagged behind Bitcoin in price over the past year and has come to the forefront with recent discussions around the foundation. While Buterin specifically touched on the importance of Layer 2 networks, he noted that these networks should be encouraged to use a portion of the proceeds generated by transactions for processes such as burning and staking.

Buterin also mentioned that if the capacity of the Blob increases, the annual number of Ethereum burned could rise to 713K.

Vitalik Buterin, who recently ended the Ethereum Foundation’s management discussions by saying, “I will decide,” offered some suggestions on how to make ether more valuable in a blog post.

Buterin, who thanked Tim Picot, Justin Drake, and other Layer 2 network developers in his article, noted the importance of these networks, also known as L2s. Emphasizing that the Ethereum network helps large segments in many areas, from stablecoins to decentralized finance (DeFi) tools and social media, Buterin said: “We shouldn’t be increasing technical and social tools together.” $ETH