A research report has reflected the merits of Ethereum which is a better store of value than Bitcoin. EIP-1559 is said to have the potential of becoming the world's first deflationary currency.
<h2>Ethereum is a Better Store of Value than Bitcoin</h2>
Bitcoin's reputation as the finest store of value <a href="https://www.cryptoknowmics.com/news/bitcoin-network-overtakes-paypal-in-transaction-volume/">network</a> in cryptocurrency has been questioned by Australian university experts, who believe Ethereum is on pace to "become the world's first deflationary currency."

Four Australian researchers <a href="https://www.thebharatexpressnews.com/academic-research-claims-eth-is-a-greater-store-of-value-than-bitcoin/">published</a> a study on Nov. 18 exploring how the EIP-1559 upgrade makes ETH a potentially better store of wealth. Ester Félez-Vias of the University of Technology Sydney, Sean Foley of Macquarie University, Jonathan Karlsen of Western Australia, and Jiri Svec of the University of Sydney collaborated on the study.

During Ethereum's EIP-1559 <a href="https://www.cryptoknowmics.com/news/after-the-eip-1559-upgrade-ethereum-is-burning-10000-per-minute/">upgrade</a> in August, the network burned a percentage of transaction fees, resulting in the burning of over one million ETH from the circulating supply of 118,583,580.

According to the research, transaction fees amounting to more than half of the 12,000 freshly generated ETH each day are burned at times, thanks to EIP-1559. They predict that as Ethereum's robust ecosystem of decentralized finance dApps grows in popularity, more ETH will be burned.

Ethereum is already less inflationary than Bitcoin, according to academics.
<blockquote>"Annualizing the rate of Ethereum creation since EIP-1559, the expected increase in the total Ethereum supply is only 0.98%, being less than half the 1.99% increase in Bitcoin supply which is almost certain in the same period."</blockquote>
Ether has "greater inflationary hedging properties than Bitcoin, and Ether may thus offer a superior long-term value storage than Bitcoin," according to the experts.
<h2>The Potential to Become the World's First Deflationary Currency</h2>
Due to uncontrolled money printing during the epidemic and inflation rising throughout the year to 6.2 percent in the United States in October, there has been significant interest in Bitcoin's hard cap of 21 million coins and its appropriateness as an inflation hedge. However, according to the report, investors may want to investigate Ethereum for this purpose.

In reaction to Bitcoiners praising BTC as "hard money" or "sound money," Ethereum supporters have started calling ETH "ultrasound money."

However, proponents of Bitcoin, such as MicroStrategy CEO Michael Saylor, believe it is immensely more secure in terms of hash rate and more dependable due to its constant supply and rarely altered protocol. The issuance of Ethereum has changed over time due to its ongoing evolution.

Ethereum is a 'Better' Value Store than Bitcoin: Academic Research Claims

The reports reflect the merits of Ethereum which is a better store of value than Bitcoin and is said to have the potential of becoming the world's first deflationary currency.

Usha is a diehard crypto enthusiast and has been actively writing on different facets of the blockchain and crypto world. She has authored many research articles on cryptocurrency and aims to provide informational and quality content to readers. She firmly believes that crypto has a great potential to redefine the world of finance and blockchain.

Ethereum is a 'Better' Value Store than Bitcoin: Academic Research Claims

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