Ethereum co-founder Vitalik Buterin Sunday proposed a lifetime cap of 120,204,432 on ethers (ETH), a marked shift from the platform’s current limit of up to 18 million coins per year, according to a post he made on GitHub. Despite the serious tone of the post, some signs hinted it could be a hoax: Why roll out a big announcement on a holiday? Why announce it now when the question of a cap has been around for a while? And, why make the announcement on April Fool’s Day? Buterin’s post said: “In order to ensure the economic sustainability of the platform under the widest possible variety of circumstances, and in light of the fact that issuing new coins to proof of work miners is no longer an effective way of promoting an egalitarian coin distribution or any other significant policy goal, I propose that we agree on a hard cap for the total quantity of ETH.” His proposal called for adopting this cap during the next hard ether fork that alters reward distributions, which will likely occur with phase one of Casper. On Monday, Buterin said on Twitter that the post was an April Fool’s joke but added, “The proposal is very real in the sense that the words actually were written in the github issue, and the arguments for it are real arguments.” Read more here.

ThirtyK Staff
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