2023-12-13 07:45:02
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#Testimonies #detainees #Gaza #revealing #violations #subjected #hands #occupation #forces #AlJazeera #Arabic #Jazeera #Channel
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December 13, 2023
The Deflationary Effect: Uncovering the Changes in Ethereum’s Economic Model Post-Merge
written by Alexandra Hartman Editor-in-Chief
2023-12-13 08:02:59
By Ultrasound Money published recent analysis once more highlights that What changes have occurred in Ethereum’s economic model since the “Merge” took place in September 2022. This was the event when the network switched to a proof-of-stake consensus mechanism. By definition, the biggest change is the deflationary effect.
Ether is burning and transaction activity is also increasing
The drop in Ethereum supply is over 300,000 ethers, while previously a continuous expansion was typical. The main reason for the decrease in supply is the burning of nearly 1.2 million ether. This continuous burning mechanism therefore greatly contributes to reducing the supply and preserving the scarcity of ether. And since around 885,000 ethers were issued during this period, it can be seen that the trend is a continuously decreasing supply. Currently, the total available supply of Ethereum is around 120 million Ether, which is worth over $260 billion – so Ethereum is still a dominant force.
dApps and other service providers, such as Uniswap, Tether and OpenSea, mostly contribute to the burning of ETH. Uniswap’s role in burning ether is also large because the platform handles a high transaction volume in the DeFi sector. Tether’s role in burning points to how many stablecoin transactions are taking place on the Ethereum network. And the role of OpenSea shows the ability of NFTs to withstand time in a bear market. But if you look at the biggest ether “burners”, you can see how widely used the Ethereum network is.
And if the deflation mechanism continues, even more people will be able to turn to ether, especially from the direction of inflation-stricken fiat money. Interestingly, in the current proof-of-stake (PoS) model, the Ethereum network has burned an average of 1.83 ether per minute since the merger. However, if you look at it since the burning mechanic was introduced as part of the EIP-1559 update in August 2021, the average burning rate has almost doubled, at 3.09 ETH/min. In summary, Ethereum’s post-merger statistics indicate a significant shift towards a deflationary regime. This is also shown by the increased value due to high network usage and decreasing supply.
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#ETH #supply #18month #deflation #mechanism #working
2023-12-13 08:01:31
The UN climate conference in Dubai came to an end with a compromise on a final document in which the move away from fossil energy sources coal, oil and gas is mentioned for the first time. COP28 President Sultan Al Jaber of the United Arab Emirates called the agreement “historic.” “The hammer has fallen, the decision has been made,” said Environment Minister Leonore Gewessler (Greens).
The final text of the “Global Stocktake” would keep the Paris climate goals within reach, i.e. limiting global warming to 1.5 degrees by 2050: “We have the basis for transformative change,” said Al Jaber to the applause of the delegates. After a second night of negotiations, the COP President presented the revised central text of the decision on Wednesday morning. It calls for a “transition away from fossil fuels in energy systems” and is therefore the first decision at a UN climate conference that affects the future of all fossil energies – in addition to coal, also oil and natural gas.
UN Secretary General Antonio Guterres welcomed the decision of the World Climate Conference to move away from coal, oil and gas. “Science tells us that limiting global warming to 1.5 degrees without phasing out fossil fuels is impossible. This was also recognized by a growing and broad coalition of countries at COP28,” Guterres wrote on X, formerly Twitter . “The age of fossil fuels must end – and it must end with justice.”
States like the EU were unable to push through their demand to agree on a global move away from all fossil fuels in the face of bitter resistance from oil states like Saudi Arabia. However, the EU still expressed satisfaction. “For the first time in 30 years, we might now be reaching the beginning of the end for fossil fuels,” said EU Climate Commissioner Wopke Hoekstra on the way into the plenary hall.
“The world is saying goodbye to fossil energies. This is a huge step forward,” said Gewessler in a first statement following the initial agreement to “switch away from fossil energies”. These words would usher in a new era in global climate protection, because for the first time the World Climate Conference is specifically and unequivocally naming the cause of the climate crisis: “The hammer has fallen, the decision has been made. The world is saying goodbye to fossil fuels. This is a huge step forward in front,” said Gewessler happily. “We have to move away from fossil fuels. The global community decided that today. In the next few years, the international community will be judged by whether action is taken decisively and quickly enough,” continued Gewessler.
“We came to Dubai with subdued expectations. The last few days have shown how difficult and laborious the negotiations are. This agreement is all the more important and significant. Of course: not everything in the text is as good as we would have liked. But especially in view of the difficult situation, today’s agreement is of enormous importance. After 28 world climate conferences, following countless days of negotiations, today it is decided: the world must move away from fossil fuels,” the minister explained the work of the last few days.
In addition to the clear decisions on fossil energies, the global inventory also includes the decision of the loss and damage fund, a fair agreement on adjustment and corresponding financial contributions from many sides.
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#Transition #fossil #fuels #decided #COP28
2023-12-12 23:11:08
This year, Senegal established a space studies agency, ASES.
She took up her duties in September and is starting to build teams and work on major projects, including the opening of a satellite manufacturing factory and a large regional space observatory.
Read alsoA first satellite, a reason for hope for the Senegalese space sector
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#Senegal #sets #space #studies #agency