SNEAK PEEK
- Lark Davis recently announced that the Ethereum triple halving event would come in the next 30 days.
- Davis boasts that the event will be equal to or even more significant than Bitcoin halving.
- The triple halving will witness the new ETH’s annual emission drop from 4.3% to 0.43%.
As per the revelation made in the tweet shared by Lark Davis, the triple halving will witness the annual emission of the latest ETH drop from 4.3% to 0.43%. Well, talking in simple terms, we are going to see the drop from 13,000 new ETH a day to 1,300.
#ethereum triple halving coming in a little over 30 days.
— Lark Davis (@TheCryptoLark) August 10, 2022
This is an event as big as or bigger than the #bitcoin halving!
Here's what you need to know
What adds more to the value of the halving is the fact that there will be a daily reduction in sell pressure of $21 million at the current prices. This contributes to over 600 million a month.
In addition to this, it should be noted that they are altering the Ethereum economy from its current mine and a proof-of-work system that is dumped into a fundamentally different one with various incentives.
He also shed some light on the EIP 1559 and addressed that it is the perpetual burn mechanism of Ethereum. Davis emphasized that if they had a PoS consensus mechanism, they would have managed to burn around 1.9 million Ethereum.
In conclusion, in the announcement, Lark Davis mentioned that the emissions are going to be reduced by 90%, and EIP 1559 will be making ETH deflationary. Moreover, the selling pressure is going to be drastically reduced along with economics changing.
