Some people have special coins called Ether that they use to do things on the internet. Sometimes, these coins are sent somewhere they can't be used anymore, which is called "burning". This makes the number of coins go down and makes each coin more valuable. A few days ago, a lot of these coins were burned at once, making them worth over $13 million. Read from source...
- The title is misleading and sensationalist. It implies that someone or some entity intentionally burned a large amount of Ether, when in fact it was a result of the normal operation of the Ethereum blockchain after the EIP-1159 upgrade. A more accurate title would be something like "EIP-1159 Fee Model Causes 4,728 ETH to Be Burned".
- The article does not explain what Ether is or how it works. It assumes that the reader already knows about Ethereum and its native cryptocurrency, which may not be the case for many readers who are new to crypto or blockchain technology. A brief introduction or definition of Ether would help clarify the topic and provide context for the uninitiated.
- The article does not mention how burning Ether affects the supply and demand dynamics of the cryptocurrency. It only states that the base fee is burned, but it does not explore the implications of this for the value and scarcity of Ether. For example, it could discuss whether burning Ether reduces inflationary pressure or increases the attractiveness of Ethereum as a store of value.
- The article uses the term " transaction " loosely and interchangeably with "block". A block is a group of transactions that are validated and added to the blockchain, while a transaction is a single exchange of value between two parties using Ether. The article should make this distinction clear and avoid confusion for the reader.
- The article does not provide any sources or citations for its claims or data. It relies on the authority of Benzinga, but it does not link to any original articles or studies that support its assertions. This makes the article seem unreliable and lacking in credibility. A good practice is to always cite your sources and provide evidence for your arguments.