Triple 📉📈

Triple

Ethereum is the second biggest cryptocurrency after Bitcoin, and a name most everyone has heard of in the investing community. What made Ethereum special when it first came out was that it was a decentralized, open source blockchain with smart contract functionality. Meaning, at its heart, Ethereum is a blockchain that supports smart contract functionality rather than the currency of Ether alone. Ethereum was conceived in 2013 by programmer Vitalik Buterin, but since then the blockchain has made significant progress, onboarding millions of users to build on its ecosystem and maintaining itself as a top cryptocurrency.

Most recently, Ethereum began to close in on their much anticipated “merge” event in which the blockchain would switch from a PoW protocol to a PoS protocol. With this merge will come a triple-halving event for the crypto. What this means is that the total ETH supply will decline by approximately 80% to 90% through a process called ‘burning’. This deflationary pressure on the network is equal to halving the Bitcoin system three times and is hence called the “triple” halving. Back when Bitcoin had its halving the reaction was overwhelmingly positive.

What do you think about the triple halving and how will it affect Ethereum?

I am not a financial advisor and my comments should never be taken as financial advice. Investments come with risk, so always do your research and analysis beforehand.

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