Fixing the Ethereum Fee Market (EIP-1559)

Historical transaction fees on Ethereum
Data showing gas overpay for random block sample
  • Save up to 90% of transaction costs
  • Greatly improve user experience by automating the fee bidding system
  • Provide a predictable fee system for advanced users
  • Reduce unexpected wait times for transaction confirmations
  • Allow users to still “jump” the line when network is congested
  • Disincentive selfish mining even if fees dominate rewards
  • Enshrine the economic value of ETH at the protocol level

--

--

--

Ethereum and DeFi.

Love podcasts or audiobooks? Learn on the go with our new app.

Recommended from Medium

Historical Data Shows Crypto Exchange Dynamics Influenced By Regulatory Changes

NFT Real Estate | NFT Marketplace for Real Estate

Non-Fungible Tokens In Real Estate

Lets talk about NFTs…

How BTCNEXT by Platinum Q DAO Engineering restores confidence in crypto exchanges

[Week 5, March 2022] MEVerse Weekly Report

How to create NFTs on the bitcoin blockchain

The Renos Zerocoin Protocol Evolution

Get the Medium app

A button that says 'Download on the App Store', and if clicked it will lead you to the iOS App store
A button that says 'Get it on, Google Play', and if clicked it will lead you to the Google Play store
Eric Conner

Eric Conner

Ethereum and DeFi.

More from Medium

19% APY — Where Crypto Interest Rates Come From

Weekly Market Update — April 23th

SanR Beta: What we’ve learned about crypto price signals, decentralized economies, and “martial…

SCALE functionality on X-Bot trading platform.