Cryptocurrency Q&A
Why is the base fee burnt?
Why is the base fee burnt?
Carlo
Tue Dec 10 2024
|
6 answers
1787
I'm curious about the reason behind burning the base fee. Why does this process take place and what purpose does it serve in the overall system?
6 answers
Martina
Thu Dec 12 2024
This mechanism plays a crucial role in managing the total supply of ETH.
Was this helpful?
287
43
CryptoMagician
Thu Dec 12 2024
The base fee, once calculated, is directed to a specific address.
Was this helpful?
73
40
IncheonBeauty
Thu Dec 12 2024
This address serves as a point of no return for the base fee.
Was this helpful?
396
31
Claudio
Thu Dec 12 2024
Effectively, once sent, the base fee cannot be retrieved or reused.
Was this helpful?
294
69
Federico
Wed Dec 11 2024
By directing a portion of transaction fees to this unretrievable address, the total supply of ETH is reduced.
Was this helpful?
338
68
Load 5 more related questions
