Almost 1M Ether would have been burnt in past year if fee proposal approved
The long awaited EIP-1559 would have seen almost 1 million ETH burnt in the last 365 days if it had been implemented, but miners are yet to get on board. The controversial Ethereum Improvement Proposal (EIP) 1559 would have burnt 970,000 Ether (ETH) — with a total value of $360 million — in the last year, if it had been implemented. EIP-1559 seeks to reduce transaction fees by introducing flat fees alongside a burn mechanism,The findings, based on Dune Analytics data and published by the Head of DTC Capital Spencer Noon, have raised questions among some in the wider Ethereum community as....
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A new Ethereum Improvement Proposal could offer a path to compromise between Ethereum’s miners and developers, but few in the community appear to support the EIP. A new Ethereum Improvement Proposal, or EIP, has emerged amid opposition from miners to scheduled changes to the network’s fee market. While some are looking to the proposal as a means to cool flaring tensions between Ethereum’s miners and developers, the EIP appears to have secured little support from the community.In recent weeks, tensions have escalated over EIP-1559 — an upgrade slated for integration in July that is expected....