EIP-1559 is probably the most anticipated (and controversial) Ethereum update this side of Eth2, but what exactly is it, why are people so excited or concerned about it, and how will it affect you? I’ll answer all of those questions, and more, in this video.
Check out the written version of this video here: https://bit.ly/3gHEwqG
TIMESTAMPS:
00:00 – Introduction
00:18 – Overview
03:05 – Why Transaction Fees?
05:21 – Transaction Fees In Ethereum Today
08:08 – Why EIP-1559?
10:19 – How EIP-1559 Works
16:14 – EIP-1559 For Users
19:59 – Additional Benefits
25:44 – What EIP-1559 Will Not Do
26:29 – Risks Of EIP-1559
31:21 – EIP-1559 and Miners
36:04 – Conclusion
Additional EIP-1559 Resources:
📖 Read:
▪️ Why 1559? by Tim Beiko: https://bit.ly/3gEGF6m
▪️Blockchain fees are broken. Here are 3 proposals to fix them. by Haseeb Qureshi: https://bit.ly/32PlTJh
▪️All You Need to Know About EIP-1559 (and more) by Uncommon Core: https://bit.ly/3xqQGdv
▪️The Price of Agency by Barnabé Monnot: https://bit.ly/32MgqD4
▪️Transaction Fee Mechanism Design for the Ethereum Blockchain: An Economic Analysis of EIP-1559∗ by Tim Roughgarden: https://bit.ly/3xngBCO
▪️Economic Analysis of EIP-1559: A Summary by Saša Milić (summarises Tim Roughgarden’s lengthy paper): https://bit.ly/32NeREQ
🎧 Listen:
▪️Zero Knowledge Podcast Episode 142: Hasu & Georgios on Bitcoin Security & Elastic Block Size Proposals: https://bit.ly/3tW82N5
📺 Watch:
▪️Can ETH Become DEFLATIONARY? EIP 1559 Explained by Finematics: https://bit.ly/3npQ7MA
▪️Tim Roughgarden: An Economic Analysis of EIP-1559; Q&A with Vitalik Buterin: https://bit.ly/32MgAdE
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Disclaimer:
Anything expressed here is my own opinion stated for informational and educational purposes; nothing I say should be taken as investment or financial advice. Many projects mentioned on this channel are highly experimental and therefore come with risks. Please evaluate your own risk tolerance before experimenting with these projects.
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