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Total Monthly transactions in 2022 and 2023 ( growth 2x in 2023 )

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Burnt Gwei anticipation in 2023

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Mint

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At its core, Ethereum is a decentralized global software platform powered by blockchain technology. It is most commonly known for its native ether (ETH) cryptocurrency. Anyone can use Ethereum to create any secured digital technology. It has a token designed to pay for work supporting the blockchain, but participants can also use it to pay for tangible goods and services if accepted. Ethereum is designed to be scalable, programmable, secure, and decentralized. It is the blockchain of choice for developers and enterprises creating technology based upon it to change how many industries operate and how we go about our daily lives. It natively supports smart contracts, an essential tool behind decentralized applications. Many decentralized finances (DeFi) and other applications use smart contracts with blockchain technology.

A gas fee is a blockchain transaction fee paid to network validators for their services to the blockchain. Without the fees, anyone would have no incentive to stake their ETH and help secure the network.

The Ethereum gas fee exists to pay network validators for their work securing the blockchain and network. Without the fees, there would be few reasons to stake ETH and become a validator. The network would be at risk without validators and the work they do.

GWEI brunt

:key: Key Finding: :key: The highest number of transactions over the past year was on December 9th. On this day, the number of transactions is 1.93 million. The amount of GWEI that had been burnt was the most on May 1st. On this day, 548 million GWEI had been burnt.