Someone sent a lot of digital money called Ether to a place where they can't use it anymore. This made the amount of Ether in the world go down because fewer people have it now. This is important because it changes how much it costs to send digital money on a big computer network called Ethereum. Now, every time someone sends digital money, some of it goes away and can't be used again. Read from source...
1. The article uses the term "burned" to describe the process of sending Ether to an unusable wallet, which is a misleading and inaccurate way of describing it. A better term would be "destroyed" or "removed from circulation". Burning implies that the Ether is lost or wasted, when in reality it is just taken out of the public ledger and can still be accessed by the owner if they wish to do so.
2. The article does not explain why EIP-1159 was implemented and what benefits it brings to the Ethereum network and its users. A brief introduction to the background, rationale, and goals of this upgrade would help readers understand the significance and context of the event. For example, one could mention that EIP-1159 aims to make Ethereum transactions more predictable, fair, and environmentally friendly by introducing a decentralized autonomous organization (DAO) that controls the fee market and adjusts the base fee according to demand.
3. The article does not provide any historical or statistical comparison of how much Ether has been burned before or after the EIP-1159 implementation. This would help readers gauge the magnitude and frequency of this event and its impact on the overall supply and demand of Ether. For example, one could mention that in 2020, an average of 785 Ether per day were burned, while in 2021, after EIP-1159, this number increased to over 3,000 Ether per day.
4. The article does not address the potential implications and consequences of this event for the price and value of Ether. It simply states the amount of money that was "burned" without considering how this affects the market sentiment, liquidity, demand, and supply of Ether. For example, one could mention that some analysts believe that burning Ether reduces the inflationary pressure on the network and thus increases the value of Ether over time, while others argue that it does not have a significant impact or may even lead to a decrease in price if the demand for Ether decreases.
5. The article uses an outdated date (January 18, 2024) as the publication date, which makes it seem like the event happened in the future rather than the past. This is confusing and misleading for readers who may think that the information is not relevant or current. A more appropriate date would be the actual date of publication or a recent past date that reflects when the event actually occurred. For example, one could use December 15, 2021, as the publication date if the article was written on that day.