Question, if tokens are burned in the crypto ecosystem is this analogous to profit in a company? For example if we read $100 million worth of tokens were burned in a week is this the same as reading a profit statement of $100 million?
In traditional economies we have companies. We measure the value of a company based on certain metrics. Profit and loss metrics are among the main metrics we look at when evaluating a company just as in real estate we look at cash flow. If we look at crypto does the burn rate provide a substitute metric for cash flow or profit?
Ethereum has just reached 100 million burned since EIP 1559 was implemented in the London fork. What does this mean? Is this how we will track the success or failure or blockchains?
References
- https://www.trustnodes.com/2021/08/11/nearly-100-million-eth-burned