Vitalik Buterin: Ethereum Issuance “Whatever It Needs To Be” For Security
Vitalik Buterin has defended Ethereum’s supply style and said issuance rates could reduce in future.
Ethereum co-founder Vitalik Buterin has confirmed his reasoning behind Ethereum’s issuance and the unlimited supply of coins.
In a Twitter exchange with Ethereum Classic fund creator Barry Silbert and cryptocurrency enthusiast Kalle Rosenbaum, Buterin said the issuance of ETH tokens “is whatever it needs to be to ensure reasonable [level] of security.”
Buterin continued that he considered the Ethereum camp had been “consistent” regarding issuance, as Rosenbaum reiterated the perspective that the altcoin’s intended purpose is not as a “money system.”
Ethereum has come under pressure in recent weeks as trading activity served to choke the network and create volatility.
The sheer popularity of ICOs using its Blockchain has also raised questions about Ethereum’s ultimate value, the number of tokens being uncapped with billions of dollars at stake.
Responding to Silbert, meanwhile, Buterin said that a future issuance rate for Ethereum could go “below 0%” once additional features became live.
Once Casper comes out, ~0.5-2% annual seems feasible. Once we add partial tx fee burning and if fees go up, may go to 0 or lower.— Vitalik Buterin (@VitalikButerin) June 28, 2017
Ethereum continues to create a mainstream presence beyond cryptocurrency circles, to the extent that Buterin has even become a target for fake news resources.
An article at the weekend claimed the developer had died in a car crash, which Buterin countered by posting a selfie with an ETH block mined after the supposed event.