Ethereum Capacity Limited to 120 Mln Coins
April 2, 2018
Vitalik Buterin has written his new proposal that would lay the groundwork for settling major problem in the Ethereum network: whether there will be a cap on amount of coins that can be mined or not.
The new Ethereum Improvement Proposal (EIP) published on April 1 shares the author’s views on the matter and informs developers and software users, top limit for Ethereum currency amount to equal 120 204 432 coins. The figure is twice bigger than sold initially during ICO in 2014.
Vague financial policy by the platform has gained attention of the critics since the very launch of Ethereum. The point is that total volume of all bitcoins mined is limited to 21 mln, while Ethereum has always had far more open-minded policy. In accordance with ICO terms, up to 18 mln of Ethereum are allowed to be issued annually, though it has been rumored quite long the conditions are to change after fundamental shift in protocol.
Still it is to be noted that the proposal is just a proposal. Even though it is accepted on a solid vote by developers and network users, the process may take months and years.