06-15-2021, 08:24 AM
EIP1559 is going live soon. Here’s what it means for Ethereum.
<!-- SC_OFF --><div class="md"><p>EIP-1559 is a proposal that will be going live in July. It will burn the gas fees creating deflationary pressure on the coin.</p> <p>In essence, it will make gas fees <em>more consistent</em> and predictable. This is necessary because it will help to prevent ridiculously high gas prices like the 2000 Gwei that we saw a few months ago.</p> <p>This is the first step before ETH2 is implemented, hopefully all goes well. It has been a long ride, but I still believe in Ethereum and I think ETH2 is going to be huge.</p> </div><!-- SC_ON --> submitted by <a href="https://www.reddit.com/user/roberthonker"> /u/roberthonker </a> <br/> <span><a href="https://www.reddit.com/r/CryptoCurrency/comments/nzqjwv/eip1559_is_going_live_soon_heres_what_it_means/">[link]</a></span> <span><a href="https://www.reddit.com/r/CryptoCurrency/comments/nzqjwv/eip1559_is_going_live_soon_heres_what_it_means/">[comments]</a></span>Kind Regards R
<!-- SC_OFF --><div class="md"><p>EIP-1559 is a proposal that will be going live in July. It will burn the gas fees creating deflationary pressure on the coin.</p> <p>In essence, it will make gas fees <em>more consistent</em> and predictable. This is necessary because it will help to prevent ridiculously high gas prices like the 2000 Gwei that we saw a few months ago.</p> <p>This is the first step before ETH2 is implemented, hopefully all goes well. It has been a long ride, but I still believe in Ethereum and I think ETH2 is going to be huge.</p> </div><!-- SC_ON --> submitted by <a href="https://www.reddit.com/user/roberthonker"> /u/roberthonker </a> <br/> <span><a href="https://www.reddit.com/r/CryptoCurrency/comments/nzqjwv/eip1559_is_going_live_soon_heres_what_it_means/">[link]</a></span> <span><a href="https://www.reddit.com/r/CryptoCurrency/comments/nzqjwv/eip1559_is_going_live_soon_heres_what_it_means/">[comments]</a></span>Kind Regards R