The token issuance mechanism of Ethereum always adheres to the principle of Minimum Viable Issuance (MVI), and its core logic is to only issue the minimum amount of Ethereum (ETH) necessary to maintain network security. This design philosophy has demonstrated astonishing stability in the evolution of the protocol – despite multiple adjustments to the issuance curve throughout history, the dual requirements of suppressing inflation and ensuring security have always constituted its unshakable underlying logic.
This balancing art is essentially a continuous exploration of the optimal security threshold: ensuring sufficient economic incentives to attract miners/validators to maintain network security while avoiding excessive issuance that dilutes token value. It is worth noting that this mechanism quantifies security requirements into precise mathematical formulas, making each issuance cycle a reassessment of the marginal benefits of network security, thus maintaining a subtle balance in dynamics.
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