Topic: will EIP-1559 make the price of ETH very high in the future...??? - page 2. (Read 243 times)
Can't say about just a single Improvement Proposal but the overall improvements in Ethereum blockchain has been positive and that's driving the experience to better side. The transaction prices are largely reduced and the speed increased. Using dapps and defis are getting pleasant again. Overall the team has worked hard to deliver and I believe they'd keep on improving Ethereum and maintain it as a prime contender of utility market.
that will be making the price of ethereum will very high in the future. the main purpose for the EIP 1559 to prevent the inflation that was happening caused by the unlimited supply and it will be also decreasing the block reward. There are lots of ether miners who against this EIP but we will see that whether the implementation of EIP 1559 will be successfully reducing the inflation.
The most interesting thing for crypto asset traders is that now Ethereum will reduce the amount of ETH in circulation by destroying some tokens each time it is used to process multiple transactions in order to try to control inflation in Ethereum. When EIP-1559 is implemented, the Ethereum gas fee will be replaced with a mandatory fee and determined by an algorithm called the base fee
I have read about EIP in the past months too, and believe it will be a useful feature for ETH. I have no idea about the technical side, but a burning in the supply will surely increase the attention to the project and its price. Remember, when ETH2's testnet was announced, its price was pumped a lot. EIP1559 may not be an ETH2, but when prices are not so good, this little news will attract many.
that will be making the price of ethereum will very high in the future. the main purpose for the EIP 1559 to prevent the inflation that was happening caused by the unlimited supply and it will be also decreasing the block reward. There are lots of ether miners who against this EIP but we will see that whether the implementation of EIP 1559 will be successfully reducing the inflation.
EIP-1559 is a proposed update owned by Ethereum that is planned to be implemented on the Ethereum blockchain in conjunction with the London Hard Fork, in July or August this year. where the network will 'burn' a small amount of ETH each time the currency is used to pay a gas fee on a transaction. This aims to reduce the amount of ETH circulating in the crypto asset trading market.
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