Vitalik: ETH should focus on value storage rather than transaction fee burning

According to Ethereum co-founder Vitalik Buterin, he believes that instead of positioning ETH as a fee-burning token, more emphasis should be placed on its value storage function.

Vitalik stated that the role of the fee-burning narrative is not as strong as it seems, and optimizing around this goal may struggle to balance decentralization and resistance to capture; positioning it as a value storage aligns with Ethereum's advantages such as decentralization. He believes that the stability brought by these advantages has practical value for asset holders and will also be valued in an era of transformation brought by AI.

He supports retaining EIP-1559 and its burning mechanism but believes that even if fee burning remains below the breakeven level of 10% in the long term, there is no need to feel disappointed, as the value of ETH comes from other aspects.