It's the process of destroying **Ether** and removing from circulation,  It occurs in every **Transaction** on Ethereum when users pay their **base gas fee**

University of Michigan - Ann Arbor

Ether is the native cryptocurrency used fundamentally for payment transaction fees on the Ethereum network, then after the **Merge** it's also used for validate and propose blocks on Mainnet. The pricing mechanism for Ethereum's computing power is facilitated by the ether cryptocurrency. In order for transactions to be validated on the blockchain, users are required to pay ether, known as gas fees, which depends on computing power required for running a transaction


Ether (ETH)

Known as the fee market proposal, EIP-1559 introduces a new mechanism for setting gas prices in Ethereum transactions. Gas prices are determined by an algorithmic formula that evaluates transaction demand and network processing to adjust the prices accordingly. This proposal was implemented in August 2021.

EIP-1559

Minting is the procedure through which ether is generated on the Ethereum ledger. This new ether is created by the Ethereum protocol itself, and it is not feasible for users to generate ether independently.

Ether is minted as a reward for each block proposed and at every epoch checkpoint for other validator activity related to reaching consensus.

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