In short, the burning of EOS tokens shows how much the network is at the heart of decentralization cryptography. According to Brendan Blumer, CEO of Block.One, this proves that the power of decentralized governance and designed networks operated in the best interests of their owners.
“If EOS is not decentralized, nothing will be. And if nothing is decentralized, EOS will still be aligned ”.
Despite having decentralization, EOS has one of the worst performances in the top 10. According to data from CoinMarketCap, altcoin is down 14.25% and is trading at $ 3.51.
In fact, the proposal to reduce inflation had been in the vote for some time. However, it only managed to gain momentum now in 2020 and was voted to be reduced by 80%. As a consequence, the annual inflation rate went from 5% to 1%.
Although there are many problems with fiat money, inflation is one of the most negatively affecting individuals. Digital assets have come to change this scenario.
Just to illustrate, EOS, with the new inflation, would need $ 40 million to maintain current prices. In return, its main competitor, Ethereum, with an inflation rate of 5%, would need US $ 750 million to guarantee current values. Even the main crypto, Bitcoin, does not have inflation as low as that of EOS. BTC has a 3.6% stake, this would require $ 6.14 billion to maintain current prices for the original crypto.
