EP 28 – EIP 1559 – HOW IT WILL IMPROVE ETHEREUM

In this episode, we take a deep dive into Ethereum’s Improvement Proposal EIP 1559 , that seeks to change the model on which transaction fees are charged on the Ethereum network. EIP 1559 proposes to change the current auction based model of transaction fees to one where the fees will become more predictable, thereby improving the user experience. The change has big implications for the Ethereum network as it burns a major portion of the gas fees instead of passing onto the miners, thereby bringing a deflationary component to the network’s economics as well. Listen in as we explore how EIP 1559 will change Ethereum.