A note from Daniel

The cost of compute on Ethereum is called gas. The price of gas is a small denomination of the native token ether, which varies according to supply and demand. The Ethereum network collects some of its gas fees to buy and "burn" (read: destroy) tokens. This collection and burning activity reduces the token supply and, in theory, increases the price of ether (assuming constant demand).

Daniel Read Write Own, page 145 · March 10, 2024 Save to shelf
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