Among the influential questions that are difficult to answer, at least for the time being, is the question: What is the total supply of Ethereum (ETH)?

As it is known in the crypto market that each currency has a specific total supply number, for example, Bitcoin has a total supply of 21 million bitcoins, while Ripple owns 44.8 billion XRP, and whether the total supply is large or decreased, but it is specified, except in the case of Ethereum.

As the overall supply of Ethereum is increasing year by year, Bitcoin enthusiasts are attacking Ethereum at this very point.

chirp Anthony Pampiliano recently tweeted:

The Ethereum community cannot know the total outstanding supply of the asset.

Read:Founder of “NEO”: Blockchain Technology Will Thrive After Corona Virus

This is a major issue and explains why ETH is not so good

But the enthusiasts of the Ethereum project responded that this was due to the difference and said that the problem lies in the fundamental differences between the blockchain networks.

So what is the answer to our article title and why is it so difficult to determine the overall supply of Ethereum?

With a simple arithmetic:

Mr. Ben Eddington from Teku to source By saying:

It’s not in principle, it’s very difficult, and people are not particularly interested in it.

So the methods for doing this have not been implemented by the users.

The attachment is there, you just need to write a little code.

In response to the challenge posed by Bitcoin developer Pierre Rochard, several Ethereum developers over the weekend took on the challenge of creating a code that could know the total supply of Ethereum from its inception to the moment.

The challenge was won by the engineer “Marc-Andre Dumas” with the reward presented.

Read:Cryptocurrency exchange Bitfinex announces the creation of a platform for trading securities tokens

Dumas’ calculations were based on the amount of Ethereum (ETH) generated, a metric also used by crypto trackers such as Coinmarketcap.

However, the number obtained by Dumas is relatively low with the true total supply of Ethereum, and Dumas later admitted that there was a significant miscalculation of the supply in his calculations.

Quick text to calculate total eth supply. It gives a result close to etherscan, but don’t trust me and etherscan, see the code and run it yourself. pic.twitter.com/9ECDtF1509

– Marc-Andre Dumas (@marcandu) August 7, 2020

The tricky aspect of calculating the supply of Ethereum is that, unlike Bitcoin, you don’t just need to add the block mining rewards. For Ethereum, there are two types: mining rewards and there are also so-called “uncle rewards.”

Ethereum supply can be divided into three different types.

“Uncle rewards” are given to blocks that are close to a solution but don’t fully make it, and they exist primarily for the sake of decentralization.

Uncles are issued with a delay of up to six blocks and can make up to 87% of the block reward, making their computation a must-have but difficult and complex.

Read:The Ethereum Classic coin has increased by 170% this month.. Find out the reasons for this

Additionally, Ethereum that has been wiped from the network should be included, as this happens on rare occasions when a smart contract is set to self-destruct while sending the remaining funds to it.

In this regard, Ethereum developer Péter Szilágyi commented on this by saying:

Since it’s ugly to calculate the supply of Ethereum by adding block rewards, uncle rewards and subtracting self-destruction, people screw it up easily.

Ethereum and Bitcoin Radicals:

Peter recommended adding the amount of Ethereum in all the accounts in each recent block, which results in a slightly lower number because the destroyed Ethereum is not included.

Peter wrote a program for the operation, and said about it:

You will need a fully synchronous client to add it.

I don’t have a number right now, and running the code to iterate across the entire database will probably take longer than the deadline for that.

Ethereum developer Martin Holst Swindi told the current total supply is about 112 million ETH, roughly consistent with data from Coinmarketcap, Etherscan and other tracking platforms.

Holst wrote a mechanism for arriving at a computational process, stating:

The degree of importance one attaches to knowing the exact number in some particular block is clearly subjective.

Personally, I see it as very important to be computed, which is clearly something that can be done fairly easily.

But it is not easy enough to please the Bitcoin fanatics who are happy with the fact that the price tracking platforms are hitting different numbers.

Holst Swindi explained this by saying:

These calculations differ because the question was not asked about a specific mass number, so depending on the exact mass people are calculating it for, they will arrive at different answers.

The various nuances to consider in order to arrive at the total Ethereum supply figure were addressed in detail in a (long) series by Andreas Antonopoulos on Monday.

Although Andreas is a prominent advocate of Bitcoin, he chastised the “experts” who rejected all the nuances needed to calculate the total supply of Ethereum, accusing them of showing their ignorance.

Eddington says from a different perspective and sees the dispute between Bitcoin and Ethereum enthusiasts revolving around the overall supply, and he explained this by saying:

Bitcoin enthusiasts are obsessed with the overall view which is a defining characteristic of the Bitcoin blockchain that Bitcoin has a stable version. For them, it’s all about the money supply.

In Ethereum, it is all about getting things done, and on the list of “things” to get done, there is a reduction in the issuance of Ethereum coins to almost zero.

In 2017, mining generated 9.2 million new Ethereum coins with an increase of 10% in the total supply.

One idea that would reduce issuance is a proposal called “EIP 1559” to introduce a mechanism that burns part of the transaction fee, and takes it out of circulation, which Mr. Ryan Watkins has suggested.

This is important because utility is a key component of what makes money valuable (just look at the US dollar).

Probably just as much money as a stock of valuable real estate.

ETH is ahead on both fronts due to its ever-growing economy and technical roadmap.

– Ryan Watkins (@RyanWatkins_) June 24, 2020

Read also:

The launch of a new beta phase for Ethereum 2.0 … details here

One of the founders of Ethereum plans to launch a social network on the Ethereum blockchain