How much Ethereum (ETH) is there
The popularity of Ethereum is growing constantly despite the recent turbulence in the cryptocurrency market. Even though the coin is inflationary, its price is growing in the long term.
Ethereum Overview
The Ethereum blockchain is the major one to support dApps, smart contracts, DeFi, and to create different types of tokens, including NFTs. With the switching to the proof-of-stake consensus algorithm, the network is expected to grow in popularity.
Ethereum is one of the network’s tokens. It can be sold, bought, exchanged, or stored - in other words, it can be used as money. This is the coin that runs on one of the most powerful blockchains whose utility level is high, indeed. Therefore, we can expect that the ETH price is going to grow over time, and Ethereum might be a very promising investment in the long term.
How Many Ethereum Are There?
Unlike many popular cryptocurrencies, the Ethereum network doesn’t limit the ETH supply to a specific number. It adopted an inflationary model. However, it is not bad as many people insist. Here, we shall not confuse Ethereum with other cryptocurrencies that are used as a storage of value and nothing more. The main task of Ethereum is to make the blockchain run. There are so many applications there, and so many platforms run on the Ethereum blockchain that by limiting ETH in supply, the network would limit its own development opportunities.
The more the network grows, the more ETH coins are needed to make it operate.
Ok, but how much Ethereum is there? And how much Ethereum is left to mine?
Back in 2015, the first block in the network mined 72 mln coins. This block is called a genesis block. The first coins were provided for a development fund and sold in a crowdsale. The coins that are left were given to miners.
As of July 28, the circulating supply of ETH is almost 122 mln coins.
As you can see from the graph, the maximum supply is not defined.
So, the maximum supply doesn’t exist. As many ETH can be mined as it is needed for the network operation.
What is limited is the mining time. One Ethereum can be mined within 13-15 seconds.
Will Ethereum 2.0 Affect the Ethereum Supply?
Now, it is unclear whether Ethereum stays with an unlimited supply or it will be limited. Some specialists believe that after the network moves to the proof-of-stake algorithm, the supply of new coins to the market will be reduced because there will be no need for miners, and the production of coins through mining will stop.
What Is the Current Size of the Ethereum Blockchain?
Currently, the Ethereum blockchain size is 104,043,825,451 kB.
Source: Blockchair
Initially, the blockchain size was much smaller because blocks were smaller, and the number of users was not high. Now, it has grown significantly, and its growth is speeding up. This is causing such a problem as scalability which is one of the main issues blockchains face. Over time, with the increase in size, the growth of the number of users and transactions, blockchain slows down. At times when the traffic is very high, the network gets clogged, and transactions are stuck in a queue waiting to be verified. The gas fee surges, too.
How Many Ethereum (ETH) Coins Are Left?
The number of Ethers that can be mined is unlimited. However, the question of how the network is going to handle producing new ETH after moving to the proof-of-stake protocol is still under question. Some specialists believe that after the network moves to the proof-of-stake algorithm, the supply of new coins to the market will be reduced because there will be no need for miners, and the production of coins through mining will stop. It is still unclear to the public how the blockchain is going to deal with it, however, we believe that everything was carefully planned by the Ethereum developers.
How Many Ethereum (ETH) Coins Are Left?
Now, there are almost 122 mln ETH coins in circulation, and the number is growing with every confirmed block.
How many ETH coins are still left to mine? It is for sure that the miners will be working until the blockchain shifts to the PoS, after that, it is unclear how the new coins are going to be produced.
What Happens When Ethereum Reaches Maximum Supply?
The maximum supply of Ethereum is unlimited, therefore, it can reach the max supply only if mining stops, and no other alternative to produce coins is offered. However, for the functionality of the ETH blockchain, it is a must to produce new coins.
FAQ
How Many Ethereum Are There in 2022?
Now, there are almost 122 mln of ETH coins in circulation, and more coins are produced constantly.
Who Owns a Lot of Ethereum?
Vitalik Buterin, one of the Ethereum project co-founders, is one of the most prominent ETH whales. Cryptocurrency exchanges such as Binance and Kraken also hold a lot of ETH in their cold wallets, however, those are not only their funds but also the funds of their users.
Who Develops Ethereum?
The very first developers of the Ethereum network were its founders: Vitalik Buterin, Gavin Wood, Charles Hoskinson, Antony Di Iorio, and Joseph Lubin.
Is Ethereum (ETH) Limited?
No, the maximum supply of ETH is not defined which means that an unlimited number of coins can be mined.
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