03-06-2021, 01:20 AM
EIP 1559 Officially Launching on Ethereum in July
<!-- SC_OFF --><div class="md"><p>EIP 1559 has now been officially confirmed for Eth's July London update.</p> <p>That means more predictable and lower fees for users, and it will introduce a BURNING mechanism that will burn part of the transaction fees on the network in ETH.</p> <p>That could very well mean ETH could see serious deflationary pressure (comparable to bitcoin's if not moreso) as early as July.</p> <p>The increasing growth of DEFI, DAPPS, and transactions on the network coupled with the scarcity introduced through burning could make ETH a comparable or better store of value than Bitcoin.</p> <p><strong>To put it in perspective, if EIP-1559 was live yesterday, it would have burned approximately $26M worth of ETH or roughly 17,000 ETH. Annually that equates to over 6.2 million ETH burned a year at the current rate. That is significantly more than the new ETH being created and would therefore make ETH deflationary</strong></p> <p>Essentially, this could mean new ETH created could become more valuable than new Bitcoin created.</p> <p>Stock up while you can.</p> </div><!-- SC_ON --> submitted by <a href="https://www.reddit.com/user/etheraider"> /u/etheraider </a> <br/> <span><a href="https://www.reddit.com/r/CryptoCurrency/comments/lyej8n/eip_1559_officially_launching_on_ethereum_in_july/">[link]</a></span> <span><a href="https://www.reddit.com/r/CryptoCurrency/comments/lyej8n/eip_1559_officially_launching_on_ethereum_in_july/">[comments]</a></span>Kind Regards R
<!-- SC_OFF --><div class="md"><p>EIP 1559 has now been officially confirmed for Eth's July London update.</p> <p>That means more predictable and lower fees for users, and it will introduce a BURNING mechanism that will burn part of the transaction fees on the network in ETH.</p> <p>That could very well mean ETH could see serious deflationary pressure (comparable to bitcoin's if not moreso) as early as July.</p> <p>The increasing growth of DEFI, DAPPS, and transactions on the network coupled with the scarcity introduced through burning could make ETH a comparable or better store of value than Bitcoin.</p> <p><strong>To put it in perspective, if EIP-1559 was live yesterday, it would have burned approximately $26M worth of ETH or roughly 17,000 ETH. Annually that equates to over 6.2 million ETH burned a year at the current rate. That is significantly more than the new ETH being created and would therefore make ETH deflationary</strong></p> <p>Essentially, this could mean new ETH created could become more valuable than new Bitcoin created.</p> <p>Stock up while you can.</p> </div><!-- SC_ON --> submitted by <a href="https://www.reddit.com/user/etheraider"> /u/etheraider </a> <br/> <span><a href="https://www.reddit.com/r/CryptoCurrency/comments/lyej8n/eip_1559_officially_launching_on_ethereum_in_july/">[link]</a></span> <span><a href="https://www.reddit.com/r/CryptoCurrency/comments/lyej8n/eip_1559_officially_launching_on_ethereum_in_july/">[comments]</a></span>Kind Regards R