It Will not be totally fixed, but it will no more be determined by free market.
Quote
Buterin said:
“if the last block was 50% full, leave the fee unchanged, if the last block was 10% full, drop it by 10%, if the last block was 90% full, increase it by 10%.”
Buterin claims that his method will eliminate drawbacks from social cost mismatch due to fee volatility. He further said:
“Intuitively, the adjusting fee mechanism works like a fixed fee in the short run and a cap in the long run, and it turns out that because of arguments from Martin Weitzman’s 1974 paper fixed fees are likely better than a cap in the circumstances that basically all public blockchains are in today and will likely continue to be in.”
Source: https://ambcrypto.com/ethereum-eth-vitalik-buterin-suggests-new-fixed-fee-model-transaction/“if the last block was 50% full, leave the fee unchanged, if the last block was 10% full, drop it by 10%, if the last block was 90% full, increase it by 10%.”
Buterin claims that his method will eliminate drawbacks from social cost mismatch due to fee volatility. He further said:
“Intuitively, the adjusting fee mechanism works like a fixed fee in the short run and a cap in the long run, and it turns out that because of arguments from Martin Weitzman’s 1974 paper fixed fees are likely better than a cap in the circumstances that basically all public blockchains are in today and will likely continue to be in.”
What do you think about it?
I think that this kind of intervention is against cryptocurrencies ideals. Intervention in the economy always results in inefficiencies.
This may turn mining less profitable, and in long term miners may leave ethereum and move to other plataforms.
Losing hashrate may result in a network more susceptible to a 51% attack.
What do you think about it?