How Does the Transition to Proof-of-Stake Affect Ether’s Issuance Rate?
The transition to Proof-of-Stake (the Merge) drastically reduced Ether's issuance rate. The network no longer needs to issue large amounts of Ether to reward miners for energy-intensive work.
Instead, a much smaller amount is issued to validators as staking rewards, leading to a substantial net reduction in new supply.
