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What Is EIP 1559? Ethereum's Secret Weapon Explained
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Gas fees on Ethereum are currently problematic. They are either typically underpaid resulting in a slow or incomplete transaction, or on the opposite end overpaid. Ethereum Improvement Proposal (EIP 1599) is a proposal to replace the current auction model method of ETH gas fees. EIP 1599 implements a BASEFEE which is burned, and additionally users can add a tip for miners if necessary. The burned ETH creates 2 economic benefits to the future value of Ethereum which I will explain in this video.
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🇺🇸🇺🇸Avoid Stressful Crypto Tax Audits. SAVE TIME AND MONEY With Cryptotrader.
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DISCLAIMER: This is NOT financial advice. I am just offering my opinions. I am not responsible for any investment decisions that you choose to make. This description may contain affiliate links for products that I believe in and use personally. If you purchase a product through one of them, I will receive a commission (at no additional cost to you). Thank you for your support.
Gas fees on Ethereum are currently problematic. They are either typically underpaid resulting in a slow or incomplete transaction, or on the opposite end overpaid. Ethereum Improvement Proposal (EIP 1599) is a proposal to replace the current auction model method of ETH gas fees. EIP 1599 implements a BASEFEE which is burned, and additionally users can add a tip for miners if necessary. The burned ETH creates 2 economic benefits to the future value of Ethereum which I will explain in this video.
-
-
🇺🇸🇺🇸Avoid Stressful Crypto Tax Audits. SAVE TIME AND MONEY With Cryptotrader.
📚 📚 My Favorite Books
-
DISCLAIMER: This is NOT financial advice. I am just offering my opinions. I am not responsible for any investment decisions that you choose to make. This description may contain affiliate links for products that I believe in and use personally. If you purchase a product through one of them, I will receive a commission (at no additional cost to you). Thank you for your support.
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