The Structural Shift in Blockchain's Value Accrual: Lessons from the Semiconductor Cycle
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Greed
Market Sentiment
Improves data availability sampling efficiency
Block reward halving event
92 million ARB released
Independent validator client goes live on mainnet
Block reward reduced to 3.125 BTC
Raises validator limit and account abstraction
Circulating supply increases by about 2%
Team and early investor shares released
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