Timeline for What are the events that mint new ETH?
Current License: CC BY-SA 4.0
3 events
| when toggle format | what | by | license | comment | |
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| Jan 27, 2023 at 19:11 | comment | added | VX3 | New ETH is not minted to cover a purchase. All ETH for consumer and smart contract transactions is already in circulation and available for purchase on various exchanges. The only time new ETH is minted is through the process of block validation, also known as staking in Ethereum's proof-of-stake consensus mechanism. In this process, validators are chosen to create new blocks and are rewarded with a certain amount of ETH for each block they create. The reward is paid out to validators every 6.5 minutes, on average. This is the only way new ETH is minted and added to the circulating supply. | |
| Jan 27, 2023 at 17:58 | comment | added | Manuelmaccou | Thanks that’s really helpful. Follow-up question. Is new ETH ever minted to cover a purchase? Or is all ETH for purposes of consumer and smart contract transactions already in circulation, and the ONLY mint event is for block rewards? | |
| Jan 27, 2023 at 17:28 | history | answered | VX3 | CC BY-SA 4.0 |